We argue that Fritz Machlup's ( 1995 ) interpretation of Mises's epistemology is at least as, if not more, plausible than Murray N. Rothbard's ( 1957 ) interpretation.
The implications of Machlup's interpretation of Mises and of Austrian epistemology affect Austrians and non-Austrians in their academic interaction. Machlup's interpretation shows that Austrian epistemology is well grounded in post-Popperian epistemology and that most criticisms of Austrian economics based on its aprioristiccharacter are misplaced. Furthermore, Machlup's interpretation provides us with a setting to rebuild the academic interaction between Austrians and non-Austrians that was characteristic of the early twentieth century.