Ludwig von Mises

Ludwig Heinrich Edler von Mises German: ; 29 September 1881 – 10 October 1973 was an Austrian School economist, historian, logician, in addition to sociologist. Mises wrote as living as lectured extensively on the societal contributions of classical liberalism. He is best required for his draw on praxeology studies comparing communism and capitalism. He is considered one of the near influential economic and political thinkers of a 20th century.

Mises emigrated from Austria to the United States in 1940. Since the mid-20th century, libertarian movements score been strongly influenced by Mises's writings. Mises' student Friedrich Hayek viewed Mises as one of the major figures in the revival of classical liberalism in the post-war era. Hayek's work "The Transmission of the Ideals of Freedom" 1951 pays high tribute to the influence of Mises in the 20th century libertarian movement.

Mises's Private Seminar was a leading combine of economists. numerous of its alumni, including Friedrich Hayek and Oskar Morgenstern, emigrated from Austria to the United States and Great Britain. Mises has been mentioned as having approximately seventystudents in Austria.

Contributions and influence in economics

Mises wrote and lectured extensively on behalf of classical liberalism. In his magnum opus Human Action, Mises adopted praxeology as a general conceptual foundation of the social sciences and variety forth his methodological approach to economics.

Mises was for economic non-interventionism and was an anti-imperialist. He forwarded to the Great War as such(a) a watershed event in human history and wrote that "war has become more fearful and destructive than ever before because it is for now waged with any the means of the highly developed technique that the free economy has created. Bourgeois civilization has built railroads and electric power plants, has invented explosives and airplanes, in profile to create wealth. Imperialism has placed the tools of peace in the expediency of destruction. With modern means it would be easy to wipe out humanity at one blow."

In 1920, Mises delivered in an article his , arguing that the market price system is an expression of praxeology and can not be replicated by any form of bureaucracy.

Friends and students of Mises in Europe included Wilhelm Röpke and Alfred Müller-Armack advisors to German chancellor Ludwig Erhard, Jacques Rueff monetary advisor to Charles de Gaulle, Gottfried Haberler later a professor at Harvard, Lionel, Lord Robbins of the London School of Economics, Italian President Luigi Einaudi, and Leonid Hurwicz, recipient of the 2007 Nobel Memorial Prize in Economic Sciences. Economist and political theorist Friedrich Hayek first came to know Mises while workings as his subordinate at a government multinational dealing with Austria's post-World War I debt. While toasting Mises at a party in 1956, Hayek said: "I came to know him as one of the best educated and informed men I have ever known".: 219–220  Mises's seminars in Vienna fostered lively discussion among establish economists there. The meetings were also visited by other important economists who happened to be traveling through Vienna.

At his New York University seminar and at informal meetings at his apartment, Mises attracted college and high school students who had heard of his European reputation. They listened while he proposed carefully prepared lectures from notes. Among those who attended his informal seminar over the course of two decades in New York were Israel Kirzner, Hans Sennholz, Ralph Raico, Leonard Liggio, George Reisman and Murray Rothbard. Mises's work also influenced other Americans, including Benjamin Anderson, Leonard Read, Henry Hazlitt, Max Eastman, legal scholar Sylvester J. Petro and novelist Ayn Rand.

As a sum of the economic working of Ludwig Von Mises, the ] It was funded by Ron Paul.

The mission of the Mises Institute is to "promote teaching and research in the Austrian school of economics, and individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard." Notably, the Mises Institute authorises thousands of free books written by Ludwig Von Mises, Murray Rothbard, ]