The Continuing Relevance of Mises’s Human Action
In the nearly seven decades since its appearance, Human Action has come to be recognized as one of the truly great classics of modern economics.
In the nearly seven decades since its appearance, Human Action has come to be recognized as one of the truly great classics of modern economics.
The macroeconomic approach looks upon an arbitrarily selected segment of the market economy as if it were an integrated unit.
Like Mises, economist Robert Lucas understood that realities of human action make it impossible to treat economics as if it were a physical science.
How is it possible for Millennials to favor both a socialist government and a capitalist economy? It is simple, they don't truly understand the concepts.
John Stuart Mill and Ludwig von Mises realized that democracy can only work if the voters pay more into the system than they take out of it.
Since the French Revolution, leftism has served as the impetus for many of the state's worst massacres and totalitarian impulses.
Central planning relies on successfully predicting the future. Unfortunately for central planners, this is an impossible task.