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free-market economy
'''Ludwig von Mises''' (1881-1973) was an [[Austria]]n-born [[economist]] who emigrated to the [[United States]] to escape [[Nazi]] persecution. He was an [[advocate]] of free market and ''[[laissez-faire]]'' policies, and was an outspoken critic of [[socialism]] and is considered the founder the "neo-Austrian School" of economics, favored by many [[libertarianism|libertarians]]. Mises also felt that [[government]] should not take positions on morality either.
'''Ludwig von Mises''' (1881-1973) was an [[Austria]]n-born [[economist]] who emigrated to the [[United States]] to escape [[Nazi]] persecution. He was an [[advocate]] of free market and ''[[laissez-faire]]'' policies, and was an outspoken critic of [[socialism]] and is considered the founder the "neo-Austrian School" of economics, favored by many [[libertarianism|libertarians]]. Mises also felt that [[government]] should not take positions on morality either.
Mises built on the [[Austrian School of Economics]] founded by [[Carl Menger]], as expressed in his book ''Principles of Economics''. Mises supported the Austrian emphasis on individual action and the benefits of a free-market economy.
Mises built on the [[Austrian School of Economics]] founded by [[Carl Menger]], as expressed in his book ''Principles of Economics''. Mises supported the Austrian emphasis on individual action and the benefits of a [[free-market economy]].
Mises' classic work was "The Theory of Money and Credit" (1912), in which he integrated [[macroeconomics]] into [[microeconomics]] by integrating the theory of money into the general theory of marginal utility. Other Austrian economists rejected his work, forcing Mises to start a neo-Austrian school of economics.
Mises' classic work was "The Theory of Money and Credit" (1912), in which he integrated [[macroeconomics]] into [[microeconomics]] by integrating the theory of money into the general theory of marginal utility. Other Austrian economists rejected his work, forcing Mises to start a neo-Austrian school of economics.