Ludwig von Mises

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Mises, Ludwig von

 

Born Sept. 29, 1881, in L’vov. American economist.

Mises graduated from the University of Vienna in 1906, where he was a professor from 1913 to 1938. During 1938–40 he worked in Switzerland; he moved to the United States in 1940, and in 1945 became a professor at New York University.

In works such as Socialism (1951) and The Anticapitalist Psychosis (1956), Mises emerges as an apologist for capitalism, proclaiming it to be a system that corresponds to human nature. An advocate of unrestricted freedom of competition, Mises rejects any attempts at government interference in the economy, taking the view that such interference disrupts the natural process of economic development. Many of Mises’ propositions are severely criticized even by bourgeois economists.

References in periodicals archive ?
Let me first give a brief overview of the recent history of the WTO and of the literature concerning the causes of negotiation deadlock, and then offer a Misesian perspective on these issues.
Kirzner (1963) followed the Misesian tradition that defines entrepreneurship in terms of uncertainty and uncertainty in terms of ignorance.
However, Misesian praxeology and its value-free economics is not enough to establish a moral argument for a free society.
It is the mission of Mises Canada to advance the Misesian tradition of thought through the defence of the market economy, private property, and sound money.
The Misesian model of credit creation sees modern fractional-reserve banks as hybrid institutions.
Baumol's claims are consistent with a Misesian understanding of human action in the market process (1949).
Mueller recognizes that the Misesian position on human welfare threatens his own, and he attempts to address this.
Wapshott thinks the Misesian critique of socialism was that prices "were made redundant" when what Mises actually said about socialism is that it made prices, and the information we get from prices, impossible.
3) This metaphor is borrowed from Steele (1992), who describes the Misesian economic calculation argument in the following way: 'In much the same way, if we start a car in Chicago and make purely random movements with the steering wheel, we can be morally certain that the car will not arrive in Saint Louis.
In the first volume of this work, they present 23 previously published papers that explicitly engage with the theory and methodology of the "uncontested dean of the Austrian School of economics," organized into sections concerned with the overarching Misesian system or paradigm; issues of methodology; market theory and the price system; money, capital, and business cycles; and socialism, interventionism, and liberalism.
Uncertainty, discovery, and human action: A study of the entrepreneurial profile in the Misesian system.
The Misesian entrepreneur is alert to arbitrage opportunities which occur when prices in resource markets are not adjusted to prices in the product markets (Kirzner 1973: 85).