Austrian economics

This paradigm in economics/ philosophy has caught my imagination in a very positive sense. A feeling of having reached a philosophical shore. I look forward to visit Von Mises institute to interact with some of the worthies there. I would try to summarise the core philosophy of austrian economics here. later i would want to write on why I am attracted and why it would go along with my own sense of ' hindu way of living'.
1. Its emphasis on praxeology vis-a -vis phychology. Praxeology can be understood as the science of human action. The essential difference , it seems to me as of now, is in accepting the core motivation of human action. Human action is conceived as those which are done to reduce dissatisfactions one after the other. Actions are executed in the order of priority of the dissatisfactions. In this sense, praxeology negates the cardinal utility principle of psychology and the the derived mathematical economics. Need to understand more here.

2. Austrian economics support market economy in its true form. It even argues in favour of no tax on profits.

3. There is the presence of ' subjectivism' in its logic and in that sense it is a critique of the formal methods in economics. More on this later as I need more rigorous reading to undeestand the subtelities in the critique.

4. The subjectivism logic explains the difference in understanding ' value ' between the classical economics and Austrian economics.
More later....