Quoting Mises himself [1]:
> The experience with which the sciences of human action have to deal is always an experience of complex phenomena. No laboratory experiments can be performed with regard to human action. [...] Neither experimental verification nor experimental falsification of a general proposition is possible in its field.
> Praxeology is a theoretical and systematic [...] science. Its cognition is purely formal and general without reference to the material content and the particular features of the actual case. [...] Its statements and propositions are not derived from experience. They are, like those of logic and mathematics, a priori. They are not subject to verification or falsification on the ground of experience and facts.
Basically, Mises claimed that Praxeology brings prerequisite tools necesary to understand human action, and that these tools are axioms, not subject to being tested themselves. Praxeology is, to him, an algebra that must be true in order to be able to understand complex events such as economics.
I don't want to say how Mises would have reacted, but had he faced modern economics (for instance RCTs in the context of development economics) or machine learning, he would have been confronted with the fatal flaws of his theory, just like a time-traveling medieval doctor could not reasonably defend the theory of humours today.
[1]: https://oll.libertyfund.org/titles/greaves-human-action-a-tr...
> The experience with which the sciences of human action have to deal is always an experience of complex phenomena. No laboratory experiments can be performed with regard to human action. [...] Neither experimental verification nor experimental falsification of a general proposition is possible in its field.
> Praxeology is a theoretical and systematic [...] science. Its cognition is purely formal and general without reference to the material content and the particular features of the actual case. [...] Its statements and propositions are not derived from experience. They are, like those of logic and mathematics, a priori. They are not subject to verification or falsification on the ground of experience and facts.
Basically, Mises claimed that Praxeology brings prerequisite tools necesary to understand human action, and that these tools are axioms, not subject to being tested themselves. Praxeology is, to him, an algebra that must be true in order to be able to understand complex events such as economics.
I don't want to say how Mises would have reacted, but had he faced modern economics (for instance RCTs in the context of development economics) or machine learning, he would have been confronted with the fatal flaws of his theory, just like a time-traveling medieval doctor could not reasonably defend the theory of humours today.
[1]: https://oll.libertyfund.org/titles/greaves-human-action-a-tr...