/lit/ - Literature

*solves economics*

Just finished Liberalism by Von Mises. I appreciated his description of liberal values but I found his critique of other economic systems lacking, particularly interventionism. What are /lit/‘s thoughts on Von Mises? Any suggestions on essential liberal literature? Human Action is in the mail.

How strange... that doesn't appear to be a picture of Ludwig Von Mises.

>>18625261
(4/5)

Ludwig von Mises

- Notable ideas and contributions:

Economic calculation & Economic calculation problem
>Mises describes the nature of the price system under capitalism and describes how individual subjective values are translated into the objective information necessary for rational allocation of resources in society. He argued that the pricing systems in socialist economies were necessarily deficient because if a public entity owned all the means of production, no rational prices could be obtained for capital goods as they were merely internal transfers of goods and not "objects of exchange", unlike final goods.
Quantity theory of money
>The QTM states that the general price level of goods and services is directly proportional to the amount of money in circulation, or money supply. Mises agreed that there was a core of truth in the QTM, but said the theory "fails to explain the mechanism of variations in the value of money".
Austrian business cycle theory
>Grounded in the economic theory set out in Carl Menger's Principles of Economics and built on the vision of a capital-using production process developed in Eugen von Böhm-Bawerk's Capital and Interest, his early development of Austrian business cycle theory was a direct manifestation of Mises's rejection of the concept of neutral money and emerged as an almost incidental by-product of his exploration of the theory of banking in Mises's Theory of Money and Credit and in subsequent exposition and extension by F. A. Hayek.
Praxeology
>Mises adopted praxeology as a general conceptual foundation of the social sciences and set forth his methodological approach to economics.
Methodological dualism
>Ludwig von Mises' insistence on methodological dualism was a reaction against “the ‘methodological monism’ preached by behaviorists and positivists who saw no basic reason to approach human behavior and social phenomena differently from the way natural scientists approach molecular behavior and physical phenomena.”

- Notable works: Human Action, The Theory of Money and Credit

>>14062421
Good look doing that, bucko.

https://books.google.nl/books/about/Economic_Calculation_in_the_Socialist_Co.html?id=wepPv2u3A_8C&printsec=frontcover&source=kp_read_button&redir_esc=y#v=onepage&q&f=false

Is anarcho-capitalism just a meme?

If only he read this guy he would be able to more coherently

>>8526119
There is no "collective" or "society" in reality, just individuals.
A society is made of individuals, just like a forest is made of trees.
Protecting the collective and sacrificing to the collective accomplishes nothing but give power and goods to those who claim to represent said collective, aka the government.
To protect the individual IS to protect the interests of society at large, as opposed to the imaginary god of "the collective" (which in practice is the government).
That's because a happy society is made of happy individuals.
Seeing society as equal to "the collective" and the good of its people equaling collectivism, is your first mistake,
thinking that collectivism can accomplish anything is your second.
It's a false god and a false pursuit.
It's something that only makes sense in theory, but which when actually applies only causes disaster.
That's why the most individualist societies (and yes that is not an oxymoron) have been the most sucessful and the best ones to live in.