Mises surveys two poles in the modern conflict over the proper ways to moderate the perceived evils of industrial civilization.
Ludwig von Mises
Ludwig von Mises was a prominent Austrian economist and a prolific writer. His work influenced Benjamin Anderson, Leonard Read, Henry Hazlitt, Israel Kirzner, Hans Sennholz, Ralph Raico, Leonard Liggio, George Reisman, F.A. Hayek and Murray Rothbard, amongst others.
Bettina Bien Greaves introduces this unpublished manuscript by Ludwig von Mises, in which our author parses the differences between free and unfree systems.
Unable or unwilling to inflate away their inefficiency, the central planner or interventionist will likely resort to exorbitant taxation and doling of spoils.
Mises associates democracy with market processes and finds international peace and goodwill a necessary corollary to economic prosperity.
Mises surveys two of the major methods by which governments interfere in free economies—the imposition of trade restrictions and price controls.
Since the central planner or interventionist’s plans will inevitably fail, it’s only a matter of time before they turn on the people’s money.
Mises concludes by arguing that intervention is not a sustainable “third way” between totalitarian socialism and liberal capitalism.
Ludwig von Mises founded the modern Austrian School of economics, and wrote the sweeping, authoritative treatise Human Action.
Smith discusses the theory of value that provided the foundation for the argument that rational economic calculation is impossible in a socialistic economy.
Smith explains the theory of value provided the foundation for the argument that rational economic calculation is impossible in a socialistic economy.
George H. Smith explains why Mises predicted that “planned chaos” would emerge in a socialist economy and how F.A. Hayek elaborated on that insight.
Smith explains why Mises predicted that “planned chaos” would emerge in a socialist economy and how F.A. Hayek elaborated on that insight.
Ludwig von Mises was one of the most influential economists of the Austrian School, focusing among other issues the failures of central planning.
Peter T. Leeson joins us this week to discuss rational choice theory as it applies to self-governance. What happens in the absence of government?
The USSR tried to plan its economy without prices for capital goods. It failed, vindicating the scholarship of Ludwig von Mises.