Status
Available
Genres
Publication
Irvington-on-Hudson, N.Y. : Foundation for Economic Education, c1996.
Description
Ludwig von Mises is to economics what Albert Einstein is to physics. Human Action is his greatest work: a systematic study that covers every major topic in the science of economics. It is also one of the most convincing indictments of socialism and statism ever penned. When it first appeared in 1949, it ignited an eruption of critical acclaim. Rose Wilder Lane wrote, "I think Human Action is unquestionably the most powerful product of the human mind in our time, and I believe it will change human life for the better during the coming centuries as profoundly as Marxism has changed all of our lives for the worse in this century." Henry Hazlitt wrote, "It should become the leading text of anyone who believes in freedom, in individualism, and in a free market economy." This book is a universally recognized classic in the field of modern economics.… (more)
User reviews
LibraryThing member RonManners
"In this seminal work, one of the most brilliant thinkers of our time examines the basic principles that underlie the entire scope of human action. Revolutionary when it first appeared, controversial to this day, Human Action represents the culmination of Ludwig von Mises' lifelong quest to present
Mises begins with the philosophical foundations of economics: the basic questions of human nature, knowledge, and methodology upon which all social sciences rest. He then explores the fundamental facts about social cooperation that give rise to specialization, division of labor, exchange, prices, and economic calculation.
At the heart of the book is a lengthy section that applies economic principles to all aspects of the market: profit and loss, competition, prices, money, capital, time preference, investment, savings, interest, factors of production, and the trade cycle.
Among his many original contributions is Mises' explanation that economic calculation under socialism is impossible because of the absence of market prices. This argument, once dismissed, is now conceded by economists everywhere, and confirmed by the collapse of socialist states worldwide.
Mises also explains how all efforts by governments to plan, regulate or intervene in market processes are doomed to fail. They actually add to the very problems they were meant to solve.
Breathtaking in its originality and scale of integration, stunning in its intellectual power, Human Action is an unparallelled examination and defense of the free-market system.
Uncompromising in his defense of laissez faire, Ludwig von Mises was one of the great minds of our time. Dubbed the "dean of the Austrian School" of economics, he was for a full half century the leading champion of capitalism. He is now regarded as the founding father of the modern movement to limit the scope and power of government. Author of nearly thirty books on economics, philosophy and history, and a renowned teacher, his work has inspired several generations of influential economists. The 1974 Nobel Laureate Friedrich Hayek was his student. Mises' thinking continues to shape the views of influential policy makers. He died in 1973 at age 92."
Taken from the Dust Jacket
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economic theory as a true science.Mises begins with the philosophical foundations of economics: the basic questions of human nature, knowledge, and methodology upon which all social sciences rest. He then explores the fundamental facts about social cooperation that give rise to specialization, division of labor, exchange, prices, and economic calculation.
At the heart of the book is a lengthy section that applies economic principles to all aspects of the market: profit and loss, competition, prices, money, capital, time preference, investment, savings, interest, factors of production, and the trade cycle.
Among his many original contributions is Mises' explanation that economic calculation under socialism is impossible because of the absence of market prices. This argument, once dismissed, is now conceded by economists everywhere, and confirmed by the collapse of socialist states worldwide.
Mises also explains how all efforts by governments to plan, regulate or intervene in market processes are doomed to fail. They actually add to the very problems they were meant to solve.
Breathtaking in its originality and scale of integration, stunning in its intellectual power, Human Action is an unparallelled examination and defense of the free-market system.
Uncompromising in his defense of laissez faire, Ludwig von Mises was one of the great minds of our time. Dubbed the "dean of the Austrian School" of economics, he was for a full half century the leading champion of capitalism. He is now regarded as the founding father of the modern movement to limit the scope and power of government. Author of nearly thirty books on economics, philosophy and history, and a renowned teacher, his work has inspired several generations of influential economists. The 1974 Nobel Laureate Friedrich Hayek was his student. Mises' thinking continues to shape the views of influential policy makers. He died in 1973 at age 92."
Taken from the Dust Jacket
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LibraryThing member matthewloewen
This is a very detailed, very long book on economics. I find that it is amazing material to show the details of free market economics, but it is not a quick and easy read. For someone wanting an introduction to the subject of Austrian Economics, this is not the book. But, for someone wanting to
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hash out all the minute details of Austrian Economics, you will find this book priceless. Ludwig von Mises is one of the greatest economists in history, so I would highly recommend looking into his viewpoints and teachings. Show Less
LibraryThing member fulner
Very Very very long. While everything in this audio book was good, all, or nearly all, was repated from what I had learned in my week at "Rothbard University" If you want an introduction to Economics, this is far too much. If you want an audio book, this is probably too long for it to be of use, if
As usual I again recommend purchasing the dead tree version, but cannot recommend the audio book with only 3 stars.
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you want a reference as to why free markets work, this is a good one. As usual I again recommend purchasing the dead tree version, but cannot recommend the audio book with only 3 stars.
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LibraryThing member cliffmon
Anyone who has not read thisbook is poorly schooled in economics, even if they have a PHD in the subject. Human Action deserves to be counted among the Great Books of the Western World.
One would have to ask, why is it not counted as such, or at least required reading in all Economics ciriculae?
1. Most people don't understand it, or at least not at first, and there is no support structure, other than a few small Libertarian-type organizations, to promote understanding, or even to provide any incentive for that.
2. Von Mises's theories are based on Kantian, a-priori logic, and there are too few who have grappled with either Kant or a-priori logic in general to generate any large consensus, or even interest. It is also an unfortunate tendency among conservatives to think that Kantian logic is somehow a degenerate facet of modern thinking, although such people have very rarely actually read Kant.
3. The free-market technology (It should not properly be called philosophy, because it is in fact a very practical science, i.e., a technology) is the biggest intellectual, and therefore the potential basis for a practical, opposition to the gravy-train economics of interferism(interventionism, "Big Government", etc.) The ones who exploit the government-knows-best philosophy (and that is, as opposed to free-market economics, a philosophy, not a science). Those who feel (and are) threatened by this science wil do whatever is necessary to ignore, marginalize, suppress it. Above all, the most potent weapon against it is to have it perceived as "not fasionable".
4. The last reason is more arcane, and more subject to question. And that is, that people are deep down inside afraid of freedom. It is a scary leap into personal and even collective responsibility, which most people are not willing, or at least hesitant, to make. Even in this age of personal empowerment seminars and LGAT's, not to mention books, videos, online courses, popular films, etc., very few seem to be able to connect the concept of personal automony and self-determination to it's application in the public arena, which is the essence of Human Action.
There are two kinds of people in the world - the kind who agree with the "Austrian" (free market) economists, and the kind who have not studied them. Nevertheless, there is still new ground to be broken. One possible advance is to give it a new name. We might start with "Natural Economics". We could also use the term "Pure Economics", since it is simply the study of the economics of human action and inter-action without the contamination of external, non-economic concepts, such as aggressive interference by either minority or majority organizations of force. It is the economics found in nature, in the nature of human beings to be inventive, to be industrious and to be in relationship. It is also the economics of the growth of human consciousness, because human conscious grows in relationship, and relationship is what free market (natural) economics is all about.
One would have to ask, why is it not counted as such, or at least required reading in all Economics ciriculae?
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There are several possible answers.1. Most people don't understand it, or at least not at first, and there is no support structure, other than a few small Libertarian-type organizations, to promote understanding, or even to provide any incentive for that.
2. Von Mises's theories are based on Kantian, a-priori logic, and there are too few who have grappled with either Kant or a-priori logic in general to generate any large consensus, or even interest. It is also an unfortunate tendency among conservatives to think that Kantian logic is somehow a degenerate facet of modern thinking, although such people have very rarely actually read Kant.
3. The free-market technology (It should not properly be called philosophy, because it is in fact a very practical science, i.e., a technology) is the biggest intellectual, and therefore the potential basis for a practical, opposition to the gravy-train economics of interferism(interventionism, "Big Government", etc.) The ones who exploit the government-knows-best philosophy (and that is, as opposed to free-market economics, a philosophy, not a science). Those who feel (and are) threatened by this science wil do whatever is necessary to ignore, marginalize, suppress it. Above all, the most potent weapon against it is to have it perceived as "not fasionable".
4. The last reason is more arcane, and more subject to question. And that is, that people are deep down inside afraid of freedom. It is a scary leap into personal and even collective responsibility, which most people are not willing, or at least hesitant, to make. Even in this age of personal empowerment seminars and LGAT's, not to mention books, videos, online courses, popular films, etc., very few seem to be able to connect the concept of personal automony and self-determination to it's application in the public arena, which is the essence of Human Action.
There are two kinds of people in the world - the kind who agree with the "Austrian" (free market) economists, and the kind who have not studied them. Nevertheless, there is still new ground to be broken. One possible advance is to give it a new name. We might start with "Natural Economics". We could also use the term "Pure Economics", since it is simply the study of the economics of human action and inter-action without the contamination of external, non-economic concepts, such as aggressive interference by either minority or majority organizations of force. It is the economics found in nature, in the nature of human beings to be inventive, to be industrious and to be in relationship. It is also the economics of the growth of human consciousness, because human conscious grows in relationship, and relationship is what free market (natural) economics is all about.
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LibraryThing member octoberdad
One of these days, Ludwig, you and I will finish our little dance....