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    This page is about a range of ideas in economical theory. For political , see the Polcompball Wiki

    "A man who chooses between drinking a glass of milk and a glass of a solution of potassium cyanide does not choose between two beverages; he chooses between life and death. A society that chooses between capitalism and socialism does not choose between two social systems; it chooses between social cooperation and the disintegration of society. Socialism is not an alternative to capitalism; it is an alternative to any system under which men can live as human beings."

    Austrian School of Economics is a field of economics founded by Carl Menger and systemized by Ludwig von Mises.

    Beliefs[edit | edit source]

    Methodological Dualism[edit | edit source]

    Epistemological basis for Austrian School is that the each (alive) individual is a conscious being who actively judges and chooses their own actions. Austrian School argues that this basis is unfalsifiable since any refutations of it would ultimately lead to self-contradiction by engaging in actively judging and choosing their own actions.

    Austrian School also argues that individual behaviors cannot be studied in empirical methods alone since individuals do not behave in the way that objects or (non-human) animals behave. Because of this arguement, Austrian School firmly rejects positivist or any other irrational empirical methods in studying individual behaviors. This of course does not mean that Austrian School rejects scientific methods in all fields but rather that scientific methods and non-scientific methods are both necessary in their own appropriate field. This epistemological stance is self-described as methodological dualism.

    Foundationalism[edit | edit source]

    Political Individualism[edit | edit source]

    Austrian School argues that individual liberty is crucial in acheiving human welfare and prosperity and that the government must be highly restricted or be eventually abolished.

    Variants[edit | edit source]

    Misesianism[edit | edit source]

    Misesianism is a philosophy of Austrian economist Ludwig von Mises, founder of Austrian School of Economics.

    Rothbardianism[edit | edit source]

    Rothbardianism is a political philosophy created by Murray N. Rothbard.

    Rothbard agreed with Mises on methodological dualism. Rothbard believed that the humans perceive the reality directly, and rejected Kant's epistemology. Rothbard was also agnostic about the existence of God.

    Rothbard defended his political stance by the natural law theory, until 1980s when he began using argumentation ethics proposed by his mentee Hans-Hermann Hoppe.

    Hoppeanism[edit | edit source]

    Hoppeanism is the philosophy of German contemporary philosopher Hans-Hermann Hoppe.

    Argumentation Ethics[edit | edit source]

    Hans-Hermann Hoppe's Argumentation Ethics is influenced by Discourse ethics by Jürgen Habermas and Karl-Otto Apel. According to Argumentation Ethics, ethical thesis is based on discourse between two or more people in participation. It is essential for the participators to acquire their own body to make the discourse happen as the discourse is based on a premise that the participators use their own body to form an argument. He argued that the participators' ownership of their own body has to be based on homesteading principle which gives them the right to their body, leading to legitimate right of self-ownership.

    He also argued that any repudiation of argumentation ethics makes a performative contradiction, automatically making their arguments false.

    Critique of Democracy[edit | edit source]

    Hans-Hermann Hoppe argued that democracy is worse than traditional governmental systems such as monarchy or aristocracy at protecting the population's safety and property. Whilst the ruler in monarchy has interest in protecting those safety and property as the ruler is de facto the private-owner of the government, the ruler in democracy however has no interest in the protection as the ruler is just a mere temporary caretaker of the government. Because of this, democracy tends to have more corruption, governmental spending, economic crisis and ect. than those of monarchy.

    He also argued that equal distribution of power in democracy had been lead to expansion of governmental power rather than suppressing it.

    Social Conservatism[edit | edit source]

    Hoppe argued that conservative lifestyle is not only compatible with libertarianism but also necessary for the libertarian order. Furthermore, Hoppe argued that those who advocate for non-family and kin-centered lifestyles should be physically removed from society. What Hoppe means by physical removal of course is not murder or any other violence but rather is an exclusion from cooperation.

    Hayekism[edit | edit source]

    Relations[edit | edit source]

    Friends[edit | edit source]

    Enemies[edit | edit source]

    • Dialectical Materialism - “...They did not realize that it was nonsensical to uproot dialectics from its idealistic ground and transplant it to a system that was labeled materialistic and empirical.”
    • Freudo-Marxism - “How entirely people have misunderstood Marxian materialism is shown in the common practice of lumping together Marxism and Freud's psychoanalysis. Actually no sharper contrast can be thought of than that between these two doctrines. Materialism aims at reducing mental phenomena to material causes. Psychoanalysis, on the contrary, deals with mental phenomena as with an autonomous field. While traditional psychiatry and neurology tried to explain all pathological conditions with which they were concerned as caused by definite pathological conditions of some bodily organs, psychoanalysis succeeded in demonstrating that abnormal states of the body are sometimes produced by mental factors.”
    • Materialism - “The materialist thesis has never yet been proved or particularized. The materialists have brought forward no more than analogies and metaphors. They have compared the working of the human mind with the operation of a machine or with physiological processes. Both analogies are insignificant and do not explain anything.”
    • Romanticism - “Romanticism is man's revolt against reason, as well as against the condition under which nature has compelled him to live. The romantic is a daydreamer; he easily manages in imagination to disregard the laws of logic and of nature. The thinking and rationally acting man tries to rid himself of the discomfort of unsatisfied wants by economic action and work; he produces in order to improve his position. The romantic is too weak - too neurasthenic for work; he imagines the pleasures of success but he does nothing to achieve them. He does not remove the obstacles; he merely removes them in imagination. He has a grudge against reality because it is not like the dream world he has created. He hates work, economy, and reason.”

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    Literature[edit | edit source]

    AnCap Reading Guide

    The Fundamentals of Libertarian Ethics by LiquidZulu

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