Being merely an economist, I think it prudent to defer to philosophers on this issue.
Here is David Gordon’s monograph, “The Philosophical Origins of the Austrian School.” It has an extended discussion of method. You’ll find it nearly midway through the article.
http://mises.org/daily/2200
I would also suggest you post your question under the “Introduction to Logic” forum for Liberty Classroom’s resident philosopher, Professor Casey, to answer.
