Murray Rothbard

Action takes plac

Action takes place by

There is another unique type

4. Further Implications: Time

T

The time expended

Action requires an image of a desired end and “technological ideas” or plans on how to arrive at this end.

any given action, we can distinguish among three periods of time involved: the period before the action, the time absorbed by the action, and the period after the action has been completed.

Thus, the larger the supply of means available, the more ends can be satisfied and the lower the rank of the ends that must remain unsatisfied.

unpredictability of human acts of choice, and insufficient knowledge about natural phenomena

action occurs in the present and is aimed at the future