imaginary construction

is a method of logical deduction resting on the categories of action, that is, of choosing and of setting things aside.

a conceptual image of a sequence of events logically evolved from the elements of action employed in its formation. It is a method of logical deduction resting on the categories of action, that is, of choosing and of setting things aside.[1] Mises writes:

is a method of logical deduction which asks whether the assumptions of our construction are consistent with the conditions of those actions which we want to conceive, rather than asking whether our imaginary constructions correspond to reality.

In confronting the imaginary constructions with reality we cannot raise the question of whether they correspond to experience and depict adequately the empirical data. We must ask whether the assumptions of our construction are identical with the conditions of those actions which we want to conceive.'[1] The method is difficult to use because of the potential for logical errors and therefore must be applied with care and criticism.' (https://wiki.mises.org/wiki/Imaginary construction)

imaginary construction, n.All

imaginary construction