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Ludwig von Mises (1881-1973) was the acknowledged leader of the Austrian School
of economic thought, a prodigious originator in economic theory, and a prolific
author. A library of his books would total twenty-one volumes if confined to
first editions, forty-eight volumes if all revised editions and translations
were included, and still more if the Festschriften and other volumes containing
contributions by him were added.
Mises' writings and lectures encompassed economic theory, history, epistemology,
government, and political philosophy. His contributions to economic theory
include important clarifications on the quantity theory of money, the theory
of the trade cycle, the integration of monetary theory with economic theory
in general, and a demonstration that socialism must fail because it cannot
solve the problem of economic calculation. Mises was the first scholar to recognize
that economics is part of a larger science in human action, a science which
Mises called "praxeology".
Ludwig von Mises received doctorates in law and economics from the University
of Vienna in 1906. In 1909 he became Economic Advisor to the Austrian Chamber
of Commerce (comparable to the U.S. Department of Commerce). After serving
in World War I, he became Professor of Economics at the University of Vienna
and, in 1934, Professor of International Relations at the Graduate Institute
of International Studies in Geneva. In 1945 he became Visiting Professor at
New York University where he remained until his retirement in 1969. In a lecturing
and teaching career that spanned many continents and more than half a century,
Mises numbered among his students one Nobel Laureate, F.A. Hayek, two presidents
of the American Economic Association, Gottfried Haberler and Fritz Machlup,
and many other economists of international reputation.
Bibliography
Works by the Author
His major works are The Theory of Money and Credit (1912), Socialism (1922), Human
Action (1949), Theory and History (1957), Epistemological
Problems of Economics (1960), and The Ultimate Foundations of Economic
Science (1962).
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