Ludwig von Mises

Mises concludes by arguing that intervention is not a sustainable “third way” between totalitarian socialism and liberal capitalism.

Mises associates democracy with market processes and finds international peace and goodwill a necessary corollary to economic prosperity.

Mises surveys two poles in the modern conflict over the proper ways to moderate the perceived evils of industrial civilization.

Unable or unwilling to inflate away their inefficiency, the central planner or interventionist will likely resort to exorbitant taxation and doling of spoils.

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 surveys two of the major methods by which governments interfere in free economies–the imposition of trade restrictions and price controls.

Bettina Bien Greaves introduces this unpublished manuscript by Ludwig von Mises, in which our author parses the differences between free and unfree systems.