On his podcast The Local Maximum, software engineer (and developer at Foursquare) Max Sklar has Bob explain Ludwig von Mises' distinction between class and case probability. They apply Mises' framework to other economic theory, and discuss Bayesian inference and machine learning.

Mentioned in the Episode and Other Links of Interest:

• Max Sklar's podcast, the Local Maximum.
• Mises' Human Action and Bob's Study Guide to Human Action; the class vs. case probability distinction is handled in Chapter VI on uncertainty.
• Max Sklar's episode dealing with his own views on probability.
• Help support the Bob Murphy Show.

The audio production for this episode was provided by Podsworth Media.