Ludwig von Mises

An Inevitable, Unhappy Ending

Tim Price offers some important observations in this article: Credit expansion, wrote the great Austrian economist Ludwig von Mises, is not a nostrum to make people happy. “The boom it engenders must inevitably lead to a debacle and unhappiness.” That seems a pretty accurate summary of the current situation for the western economies: a debacle, and unhappiness. Von Mises also wrote that [...]

Common Sense Video — How Unsound Money Destroys Civilizations

The importance of money, sound money, is not well understood. Ludwig von Mises understood and he commented a century ago on its importance to liberty: It is impossible to grasp the meaning of the idea of sound money if one does not realize that it was devised as an instrument for the protection of civil liberties against despotic inroads on the [...]

How Unsound Money Destroys Societies

The importance of money, sound money, is not well understood. Ludwig von Mises understood and he commented a century ago on its importance to liberty: It is impossible to grasp the meaning of the idea of sound money if one does not realize that it was devised as an instrument for the protection of civil liberties against despotic inroads on the [...]

Common Sense Videos — Hayekian Economics and Influence

The return of the views of Friedrich Hayek (and his mentor, Ludwig von Mises) are becoming fashionable once again as a result of the continuing financial crisis. This video from the BBC discusses his economics in contrast with the Keynesian views that have created this crisis. The roots of the current crisis can be tracked back many decades, probably the [...]

How Empires Die

The US became great as a result of lack of government or minimal government. Our destruction came about by allowing government to break the binds imposed by the Constitution. It now is excessive and has destroyed initiative, innovation and social cooperation. Doug French discusses this issue: An Aging, Bankrupt Empire by Doug French The U.S. government has created borders within the [...]

Fatal Conceit Leads to Fatal Government

A half-century ago, Ludwig von Mises discussed the concept of a “perfect government.” In this excerpt from his book, The Ultimate Foundation of Economic Science, Mises deals with what Friedrich Hayek would later refer to as “the fatal conceit” that all liberals and progressives are infected with. It is a conceit that has been with us since mankind began to govern [...]

Ludwig von Mises: The Logician of Freedom

For those wanting to learn more about Ludwig von Mises, this piece by Eugen-Maria Schulak and Herbert Unterköfler from Mises.org is a reasonable starting point. It deals with his personal life more than his economic contributions. His life spanned possibly the most interesting time in human history. There are numerous links within the piece for those wishing to pursue other areas of Mises’ work and [...]

Economics vs. Physics

For those interested in epistemological problems in the social sciences versus the physical sciences, the following article is a good summary. It contrasts the Austrian economics approach with that of more mainstream economics. The article is from FEE. ECONOMICS, NOT PHYSICS Download “Social Science and Natural Science” by Ludwig von Mises here. By Nicholas Snow Published: 23 May 2011 Ludwig von [...]

Lazy Man’s Guide to Ludwig von Mises and His Contributions

The name Ludwig von Mises is synonymous with classical liberalism. He was an unrepentant champion of freedom and free markets. His beliefs, unlike so many of us, were not something he inherited from his parents or society. Many he obtained from others, but many he was the original developer using his incredibly strong and fertile mind. He was unique in [...]

Mises Discussion

If you are interested in learning more about Ludwig von Mises and Austrian economics, this talk between Boettke and Roberts is valuable. It represents a simple history of economics over the last century. Not a difficult listen, however probably most enjoyed by econophiles and those wanting to get a better understanding of the remarkable contributions of Ludwig von Mises.

Mises on The Solution

Contrary to what many think, newer is not necessarily better. Change is not always progress or improvement. This caution seems to apply especially in the field of economics where theory, aided by political reinforcement, took a wrong turn about 75 years ago. To gain an understanding of current events, it is often useful to read economics prior to its politicization. [...]

Ludwig von Mises

A number of readers have inquired about Austrian economics and Austrian economists. The Dean of the modern Austrian school was Ludwig von Mises. For those wanting to read about his life, I recommend this book. The book is a remarkable account of his life and times and his intersection with some of the great events of the 20th Century. It [...]