Who is Ludwig von Mises?

Who is Ludwig von Mises?

June 25, 2021 Off By Felso

He was born on September 29, 1881, in Lemberg, Austro-Hungarian Empire (now in Ukraine), the son of a railway engineer father.

Mises, who started his education in law and administrative sciences at the University of Vienna at the age of 19, started to focus on economics by getting rid of the historian’s point of view when he read Carl Menger’s Principles of Economics in 1903 while working on the history of administrative sciences with Carl Grünberg. He got his doctorate in 1906 and started to work in the public sector as a financial manager, and then he worked as an intern in a law firm for 2 years, dissatisfied with the functioning of the bureaucracy. Meanwhile, he started to teach economics at the Austrian School of Economics, thus forming the second generation of the Austrian School, founded by Carl Menger, from the Eugen von Böhm-Bawerk tradition, together with Hans Mayer and Joseph Schumpeter. He later started to work at the Vienna Chamber of Commerce, where he would work for 25 years. He left Vienna to escape from the Nazis in the 1934-1940 period and started to teach at the University of Genoa, but immigrated to the USA in 1940 with the increasing pressure. He became a visiting professor at New York University in 1945 and continued his studies there until 1969. During this period, he contributed to the training of libertarian intellectuals such as Murray Rothbard, Hans Sennholz, George Reisman, Ralph Raico, Leonard Liggio and Israel Kirzner.

In 1973, at the age of 92, he went to St. Vincent’s Hospital passed away.

Selected Words from Mises

– There are things in the universe that our minds cannot grasp and that we cannot perceive with our emotions.

– Government expenditures do not create additional employment. If the state spends by borrowing and levying taxes from the public, it will destroy more than the jobs it will create on the one hand.


– The Theory of Money and Credit (1912)

In this book, Mises closed the micro-macro bifurcation that started with David Ricardo in British classical economics and emphasized that economics is a science based on the step-by-step analysis of individual human behavior. Money is integrated into the analysis of individual behavior and the market economy. It also transformed the analysis of current banking practices, returning to the tradition of the Ricardian Money School, showing that it was right to abolish the inflationary fractional reserve credit system.

– Socialism: An Economic and Sociological Analysis An Economic and Sociological Analysis (1922)

This Book is an in-depth analysis of Socialism and its derivatives and a striking critique of the landscape. With this work, Mises points out why economic calculation will not be possible in a society where there is complete socialist control, and this is a problem accepted even by socialists. * This book has been translated into Turkish by Liberte Publishing.

– Liberalism or The Free and Prosperous Commonwealth

This book is an eloquent expression of the role of the state in classical liberalism. Mises; In this book he described the role of the state and explained what would and would not promote peace, freedom and prosperity.

– A Critique of Interventionism (1929)

This work is a collection of articles written on the economic debates that took place in Europe in the 1920s. In this review, Mises; He persistently criticized Marxism and programs involving price controls and the nationalization of banks in the Europe of that day.

– Bureaucracy Bureaucracy (1944)

This study is an impartial study in which the differences between bureaucratic administration and management based on profit and loss are expressed in plain language. Bureaucracy may be reasonably efficient in state administration, but it has important distinctions with profit-loss administration. Bureaucracy is for the state, but in the business world, management based on profit and loss has to be valid. Many writers have seen large corporations as a bureaucratic structure in the form of a state, but this is a deep-rooted misconception. The business world is concerned with profit and loss, not size. A company can be divided into multiple divisions, each of which keeps its own balance sheet. Sometimes it is necessary to keep records with double entry in these divided sections. On the other hand, the state is not accountable to its customers as in the business world, but it can be manipulated through social pressure, like democracy. Democracy; Although it is majority control, it is still the most attractive form of government. * This book has been translated into Turkish by Liberte Publishing.

– Human Action: A Treatise on Economics

This work is a comprehensive academic study of economics and social sciences. of Mises; It is the basic book in which the individual’s preferences reveal that they are purposeful in the cause-effect relationship and that he specifies methodological working principles.

– The Anti-Capitalistic Mentality (1956)

The book explains why Mises has misunderstood capitalism and feared it.