Ludwig von mises biography define

Austrian economist Ludwig von Mises (1881–1973) produced path-breaking critiques of socialism, central banking, and methodological malpractice in the social sciences, yet the details of his intellectual development had remained a mystery. Fortunately, in the monumental biographyMises: The Last Knight of Liberalism(2007),Jörg Guido Hülsmann reveals many of these details, illuminating the remarkable life and works of a man who deserves wider recognition for reviving classical liberalism and putting it on a more consistent footing.

Article

Ludwig von Mises (1881–1973) was one of the most important economists of the twentieth century. Even if he had made no other contribution over a professional lifetime that spanned seven decades, his place in the history of economic ideas would be assured by his devastating analysis of why socialist central planning is inherently “impossible.” Besides this achievement, however, he also formulated a monetary theory of the business cycle that at one point in the 1930s rivaled even the emerging Keynesian Revolution for attention.

In addition, Mises was a leading contributor to the philosophy of the social sciences, building on the legacy of the classical economists, the early Austrian school, Max Weber’s sociology of meaningful action, and the “intentionalist” tradition in continental philosophy. His major economic treatise Human Action ([1949] 1996a) is a work in the grand style of eighteenth-century Enlightenment thinkers. It lays before the reader not only a thorough analysis of the logic of human decision making and the market process, but also a theory of society and the social order with all of its philosophical, sociological, economic, and political dimensions. Though “Renaissance man” is a much misused and abused appellation, it may rightly be said that the breadth and depth of Mises’s writings marked him truly as such a man even in an age of growing scientifi

Austrian–American economist (1881–1973)

Not to be confused with Ludwig Mies van der Rohe.

Ludwig Heinrich Edler von Mises (; German:[ˈluːtvɪçfɔnˈmiːzəs]; 29 September 1881 – 10 October 1973) was an Austrian-American economist, logician, sociologist and philosopher of economics of the Austrian school. Mises wrote and lectured extensively on the societal contributions of classical liberalism and the power of consumers. He is best known for his work in praxeology, particularly for studies comparing communism and capitalism, as well as for being a defender of classical liberalism in the face of rising illiberalism and authoritarianism throughout much of Europe during the 20th century.

Mises emigrated from Austria to the United States in 1940, fleeing from Nazis who on the first day the German Army entered Vienna rushed into the von Mises apartment in Vienna, apparently looking for him, and confiscated his library and papers. Mises was in Geneva, Switzerland at the time, but when the German invasion of France was about to leave Switzerland completely surrounded by Fascist and Nazi controlled territory, von Mises and his wife found it necessary to flee through France dodging German troops, to get to the US via Spain and Portugal.

Since the mid-20th century, both libertarian movements and the field of economics as a whole, have been strongly influenced by Mises's writings. Mises's 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. Economist Tyler Cowen lists his writings as "the most important works of the 20th century" and as "among the most important economics articles, ever".

Mises's Private Seminar created a leading gro

Ludwig Heinrich Edler von Mises (1881–1973)

One of the most notable economists and social philosophers of the twentieth century, Ludwig von Mises, in the course of a long and highly productive life, developed an integrated, deduct­ive science of economics based on the fundamental axiom that in­dividual human beings act purposively to achieve desired goals. Even though his economic analysis itself was “value-free” — in the sense of being irrelevant to values held by economists — Mises concluded that the only viable economic policy for the human race was a policy of unrestricted laissez-faire, of free markets and the unhampered exercise of the right of private property, with government strictly limited to the defense of person and property within its territorial area.

For Mises was able to demonstrate (a) that the expansion of free markets, the division of labor, and private capital investment is the only possible path to the prosperity and flourishing of the human race; (b) that socialism would be disastrous for a modern economy because the absence of private ownership of land and capital goods prevents any sort of rational pricing, or estimate of costs, and (c) that government intervention, in addition to hampering and crippling the market, would prove counter-productive and cumulative, leading inevitably to socialism unless the entire tissue of interventions was repealed.

Holding these views, and hewing to truth indomitably in the face of a century increasingly devoted to statism and collectivism, Mises became famous for his “intransigence” in insisting on a non-inflationary gold standard and on laissez-faire.

Effectively barred from any paid university post in Austria and later in the United States, Mises pursued his course gallantly. As the chief economic adviser to the Austrian government in the 1920s, Mises was single-handedly able to slow down Austrian inflation; and he developed his own “private seminar” which attracted the out­stan

Ludwig von Mises was an influential Austrian economist. He is known as an advocate of free-market capitalism and a staunch opponent of socialism and interventionism.

Von Mises taught at the University of Vienna and New York University and published his most renowned work, "Human Action", in 1949. Ludwig von Mises died on Oct. 10, 1973.

Early Life and Education

Ludwig von Mises was born in 1881 in Galicia, a region of Austria-Hungary. Raised by Jewish parents who were well connected and "well-to-do," he was fluent in German, Polish, French, and Latin.

In 1906, Ludwig von Mises graduated with a Juris Doctorate in law and economics from the University of Vienna and began a career as an economist, author, and educator.

Views on Economy

Ludwig Von Mises served in World War I as a front officer and an economist to the War Department of Austria, where he served as economic adviser to Austrian Chancellor Engelbert Dollfuss, a strong opponent of Nazism.

As an economist, Ludwig von Mises was known for his consistent adherence to the principles of laissez-faire and strong resistance to government intervention in economic matters. He closely followed the teachings of Carl Menger, founder of the Austrian School of Economics. Menger's “subjective theory of value" is one of the most influential insights in economics, citing that people will exchange something they value less for something they value more.

As the National Socialists began to influence Austria and Germany, Ludwig von Mises secured a position as a professor at the Graduate Institute of In