Difference between revisions of "Ludwig von Mises"
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[[Image:Ur8756.jpg|right|thumb|Ludwig von Mises]] | [[Image:Ur8756.jpg|right|thumb|Ludwig von Mises]] | ||
| − | '''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. Mises also felt that [[government]] should not take positions on morality | + | '''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. |
| − | 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. | ||
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''Economic theory has demonstrated in an irrefutable way that a prosperity created by an expansionist monetary and credit policy is illusory and must end in a slump, an economic crisis. It has happened again and again in the past, and it will happen in the future, too.'' [http://oll.libertyfund.org/?option=com_staticxt&staticfile=show.php%3Ftitle=1887&chapter=109644&layout=html&Itemid=27] | ''Economic theory has demonstrated in an irrefutable way that a prosperity created by an expansionist monetary and credit policy is illusory and must end in a slump, an economic crisis. It has happened again and again in the past, and it will happen in the future, too.'' [http://oll.libertyfund.org/?option=com_staticxt&staticfile=show.php%3Ftitle=1887&chapter=109644&layout=html&Itemid=27] | ||
</blockquote> | </blockquote> | ||
| + | |||
| + | ==Quotes== | ||
| + | * "Nothing can be expected from the future if men do not realize that they were on the wrong path." | ||
==Books by Ludwig von Mises== | ==Books by Ludwig von Mises== | ||
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== See also == | == See also == | ||
| + | * [[Austrian School of Economics]] | ||
| + | * [[Capitalism]] | ||
| + | * [[Enterprise]] | ||
| + | * [[Friedrich Hayek]] | ||
| + | * [[Libertarianism]] | ||
| + | * [[Milton Friedman]] | ||
| + | * [[Murray Rothbard]] | ||
| − | + | ==External links== | |
| − | + | ||
| − | + | ||
| − | ==External | + | |
*[http://mises.org/ Ludwig Von Misses Institute] | *[http://mises.org/ Ludwig Von Misses Institute] | ||
| − | {{DEFAULTSORT: Mises, Ludwig von }} | + | {{DEFAULTSORT:Mises, Ludwig von}} |
| − | [[Category: | + | {{Economic preparedness topics}} |
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| + | [[Category:Economic Preparedness]] | ||
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[[Category:Economists]] | [[Category:Economists]] | ||
[[Category:Capitalists]] | [[Category:Capitalists]] | ||
| + | [[Category:Libertarianism]] | ||
| + | [[Category:American Jews]] | ||
| + | [[Category:European Jews]] | ||
| + | [[Category:Jewish People]] | ||
| + | [[Category:Libertarians]] | ||
| + | [[Category:Anti-Communism]] | ||
| + | [[Category:Fiscal Conservatives]] | ||
Revision as of 16:47, June 24, 2016
Ludwig von Mises (1881-1973) was an Austrian-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 libertarians. Mises also felt that government should not take positions on morality.
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 felt that society does not benefit from an increase in the money supply, that increased money and bank credit causes inflation and business cycles. Mises supported a 100 percent gold standard.
A student of Mises, F.A. Hayek, won the Nobel Prize in economics in 1974 for elaborating on Mises' business cycle theory.
Economic theory has demonstrated in an irrefutable way that a prosperity created by an expansionist monetary and credit policy is illusory and must end in a slump, an economic crisis. It has happened again and again in the past, and it will happen in the future, too. [1]
Quotes
- "Nothing can be expected from the future if men do not realize that they were on the wrong path."
Books by Ludwig von Mises
- The Theory of Money and Credit
- Nation, State, and Economy
- Socialism: An Economic and Sociological Analysis
- Critique of Interventionism
- Liberalism
- Epistemological Problems of Economics
- Omnipotent Government: The Rise of Total State and Total War
- Bureaucracy
- Human Action: A Treatise on Economics
- Theory and History: An Interpretation of Social and Economic Evolution
- The Anti-Capitalistic Mentality
- The Ultimate Foundation of Economic Science
- Mises wrote Human Action (1949), the most comprehensive case for economic liberty ever written. [2]
E-Books
- The Free Market and Its Enemies: Pseudo-Science, Socialism, and Inflation Lecture Series, Volume 1, with an introduction by Richard Ebeling.
- Nine Books by Mises, made available online by the Liberty Fund.
- Human Action: A treatise on economics 1949 (4th edition, 1996). San Francisco: Fox & Wilkes. ISBN 0-930073-18-5. Made available online by The Ludwig von Mises Institute.
- Human Action: The Scholars Edition Auburn, Alabama: Mises Institute, 1999. Re-issue of the classic 1949 Edition with new introduction and expanded index.
- A Critique of Interventionism, The Ludwig von Mises Institute.
- The Anti-Capitalistic Mentality, Libertarian Press 1990.
- Economic Freedom and Interventionism, The Ludwig von Mises Institute.
- Economic Policy: Thoughts for Today and Tomorrow Second Edition, with a New Introduction by Bettina Bien Greaves, The Ludwig von Mises Institute.
- The Historical Setting of the Austrian School of Economics, The Ludwig von Mises Institute.
- Liberalism: In the Classical Tradition, Online edition Copyright The Mises Institute, 2000.
- The Theory of Money and Credit. 1912 integration of microeconomics and macroeconomics. ISBN 0-913966-71-1. Online edition Copyright The Mises Institute.
- Socialism: An Economic and Sociological Analysis Von Mises' critique of Socialism
- Theory and History. 1957 treatise on social and economic evolution, with a preface by Murray N. Rothbard. Online edition Copyright The Mises Institute, 2000.
See also
- Austrian School of Economics
- Capitalism
- Enterprise
- Friedrich Hayek
- Libertarianism
- Milton Friedman
- Murray Rothbard
External links
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