Book · 1949 · Nonfiction

Human Action

Name: Human Action
Author: Ludwig von Mises

Ludwig von Mises Institute · 912 pages

★ 5.8 editorial score

Every economic law follows from one fact, Mises argues: people act to relieve uneasiness. Planners without market prices are blind, and three generations of the libertarian right have drawn their economics from him.

Genre

Economics

Subject

Capitalism Free market

Time

1949

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Quote · 1776

“It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.”

Adam Smith

Quote · 1949

“Laissez faire does not mean: Let soulless mechanical forces operate. It means: Let each individual choose how he wants to cooperate in the social division of labor; let the consumers determine what the entrepreneurs should produce. Planning means: Let the government alone choose and enforce its rulings by the apparatus of coercion and compulsion.”

Ludwig von Mises

Quote · 1776

“All systems, either of preference or of restraint, therefore, being thus completely taken away, the obvious and simple system of natural liberty establishes itself of its own accord. Every man, as long as he does not violate the laws of justice, is left perfectly free to pursue his own interest his own way, and to bring both his industry and capital into competition with those of any other man, or order of men.”

Adam Smith