Theory and History

Theory and History: An Interpretation of Social and Economic Evolution is a treatise by Austrian school economist and philosopher Ludwig von Mises. It can be thought of as a continuation in the development of the Misesian system of social science. It provides further epistemological support for his earlier works, especially Human Action. Mises elaborates on methodological dualism, develops the concept of thymology – a historical branch of the sciences of human action – and presents his critique of Marxist materialism.

Mises puts forward a theory of knowledge and value. He later explores and critically analyzes paradigms of thought like determinism, materialism, dialectic materialism, historicism, scientism, positivism, behaviorism and psychology. He argues that these schools of thought – some politically motivated, others blinded by dogmatism – have committed epistemological and methodological blunders and are not conducive to a scientific understanding of human behavior.

Economist Murray Rothbard considered Theory and History to be amongst the most significant works of Mises's career, alongside The Theory of Money and Credit (1912), Socialism (1922), and Human Action (1949), although he argued that Theory and History had been the most overlooked of these four major works.