Knowledge of the principles of the free society is not something that everyone is born with or something that we just catch like the common cold. The principles of liberty must be carefully passed on from one generation to the next if they are to survive, let alone flourish. Each generation must learn anew from... Read�More

In the capitalist system of society's economic organization the entrepreneurs determine the course of production. In the performance of this function they are unconditionally and totally subject to the sovereignty of the buying public, the consumers. If they fail to produce in the cheapest and best possible way those commodities which the consumers are asking... Read�More

This collection of articles on the business cycle, money, and exchange rates by Ludwig von Mises appeared between 1919 and 1946. Here we have the evidence that the master economist foresaw and warned against the breakdown of the German mark, as well as the market crash of 1929 and the depression that followed. He presents... Read�More

When my husband died in 1973 I had to go through his papers. Some of them were still in manuscript form and had never before been published. I selected several of these, plus a number of other articles that had appeared in periodicals but were no longer in print. This book is the result. At... Read�More

When Professor Ludwig von Mises died in 1973, he was mourned by friends, associates, and students. His admirers at that time, though not numerous, had recognized him for decades as an intellectual giant and the leading spokesman of the subjective value, marginal utility, "Austrian" school of economics. Yet most of the world paid little attention... Read�More

The ideal economic policy, both for today and tomorrow, is very simple. Government should protect and defend against domestic and foreign aggression the lives and property of the persons under its jurisdiction, settle disputes that arise, and leave the people otherwise free to pursue their various goals and ends in life. This is a radical... Read�More

In the twentieth century, the advocates of free market economics almost invariably pin the blame for government intervention solely on erroneous ideas—that is, on incorrect ideas about which policies will advance the public weal. To most of these writers, any such concept as "ruling class" sounds impossibly Marxist. In short, what they are really saying... Read�More

In 1960, in the preface to the first English-language edition of this volume of essays, Mises wrote, "They represent... the necessary preliminary study for the thorough scrutiny of the problems involved such as I tried to provide in my book Human Action, a Treatise of Economics" (p. VII). This brief indication of the position these... Read�More

THERE ARE TWO USES of the word liberalism that I find heartbreaking. The first occurs when a self-described liberal pushes government power as the solution to all our economic and social woes. How can this be? Government is not liberal. Government is the robber, the coercer, the taser, the jailer. Another is when a self-described... Read�More

The twentieth century has witnessed the beginning, development, and end of the most tragic experiment in human history: socialism. The experiment resulted in tremendous human losses, destruction of potentially rich economies, and colossal ecological disasters. The experiment has ended, but the devastation will affect the lives and health of generations to come. The real tragedy... Read�More

The pages that I herewith submit to the public do not presume to be more than observations about the crisis in world history that we are living through and contributions to understanding the political conditions of our time. I know that any attempt to offer more would be premature and therefore mistaken. Even if we... Read�More