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Raising the minimum wage and the Austrian apriorism
Panýr, Jakub ; Špecián, Petr (advisor) ; Brožová, Dagmar (referee)
This thesis deals with a problem of a relationship between minimum wage and potential consequent unemployment. While solving it, I am trying to connect apriorism of the misesian branch of the Austrian school and a Bayesian approach. It will enable us to correct our subjective belief in certain hypothesis with regard to the new facts which may appear. Sentences of the Austrian school about a certain positive relationship between raising the minimum wage and unemployment of unskilled workers, based on claiming about a synthetic a priori character of these sentences, seems as not so convincing, after confrontation with the Bayesian epistemology and facts from other disciplines. Then I am trying to show, that refusing of a quantification of unique events seems to be wrong and not coherent with callings of the Austrian school for "realistic" foundaitons. The Austrian school may according to these findings give up its claim about unchallengeable certainty of its theories, and complement it with a healthy dose of this Bayesian approach.

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