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Planned Chaos
•
Ludwig von Mises
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This new edition of Planned Chaos features a new introduction by Chris Westley of Jacksonville State University. The introduction brings this classic up to date — not that it has ever fallen out of date or ever will.
The title comes from Mises’s description of the reality of central planning and socialism, whether of the national variety (Nazism) or the international variety (communism). Rather than create an orderly society, the attempt to central plan has precisely the opposite effect. By short-circuiting the price mechanism and forcing people into economic lives contrary to their own chosing, central planning destroys the capital base and creates economic randomness that eventually ends in killing prosperity.
This important work was written decades after Mises’s original essay on economic calculation and includes the broadest and boldest attack on all forms of state control.
Meet the Author
Ludwig von Mises
Ludwig von Mises was the acknowledged leader of the Austrian school of economic thought, a prodigious originator in economic theory, and a prolific author. Mises’s 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 that he called praxeology.
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[A selection from Liberalism .] All those in positions of political power, all governments, all kings, and all republican authorities have always looked askance at private property. There is an...
The Real Meaning of Inflation and Deflation
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[Excerpted from Chapter 17 of Human Action.] The services money renders are conditioned by the height of its purchasing power. Nobody wants to have in his cash holding a definite number of pieces of...
Mises Explains the Santa Claus Principle
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Ludwig von Mises
[From “The Exhaustion of the Reserve Fund” in Human Action, chap. 36.] The idea underlying all interventionist policies is that the higher income and wealth of the more affluent part of the population...
View Ludwig von Mises bio and works
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