An analytical tool for the analysis of epistemological positions is presented in detail. The classification scheme employed is a slightly advanced version of Popper's analysis and classification of epistemological positions as reformulated by Milford. The classification characterizes epistemological positions by means of reference to their solution of the problem of induction. Five inductivist and three deductivist positions prevalent in the history of economics are introduced and exemplified. Several preliminary results regarding the classification of Mises' position are stated.