An Honor for a Philosopher
Photograph of Ludwig von Mises
Original Preface, May 1952
Publisher's Preface to Fourth Edition
I. Planning for Freedom
1. Planning as a synonym for socialism. 2. Planning as a synonym
for interventionism. 3. What interventionism or mixed economy means.
4. Two patterns of socialism. 5. Only method of permanently raising
wage rates for all. 6. Interventionism the cause of depression.
7. Marx condemned interventionism. 8. Minimum wage rates bring about
mass unemployment. 9. Traditional labor union policies harmful to
the worker 10. The social function of profit and loss. 11. A free
market economy best serves the common man.
II. Middle-of-the-Road Policy Leads
1. Socialism. 2. Interventionism, allegedly a middle-of-the-road
policy. 3. How interventionism works. 4. How price control leads
to socialism. 5. The Zwangswirtschaft type of socialism.
. German and British experience. 7. Crises and unemployment. 8.
Two roads to socialism. 9. Foreign exchange control. 10. Progressive
taxation. 11. The trend toward socialism. 12. Loopholes capitalism.
13. The coming of socialism not inevitable.
III. Laissez Faire or Dictatorship
1. What the Encyclopedia of the Social Sciences says about
laissez faire. 2. Laissez faire means free market economy. 3. The
Cairnes argument against laissez faire. 4. "Conscious planning"
versus "automatic forces." 5. The satisfaction of man's
"true" needs. 6. "Positive" policies versus
"negative" policies. 7. Conclusion.
IV. Stones Into Bread, the Keynesian
V. Lord Keynes and Say's Law
VI. Inflation and Price Control
1. The futility of price control. 2. Price control in Germany. 3.
Popular inflation fallacies. 4. Fallacies must not be imported.
VII. Economic Aspects of the Pension
1. On whom does the incidence fall? 2. Pensions and the purchasing
power of the dollar. 3. Pensions and the "new economics."
VIII. Benjamin M. Anderson Challenges
The Philosophy of the Pseudo-Progressives
1. The two lines of Marxian thought and policies. 2. The guide of
the progressives. 3. Anderson's fight against destructionism. 4.
Anderson's posthumous economic history.
IX. Profit and Loss
A. The Economic Nature of Profit and Loss
1. The emergence of profit and loss. 2. The distinction
between profits and other proceeds. 3. Non-profit conduct of affairs.
4. The ballot of the market. 5. The social function of profit and
loss. 6. Profit and loss in the progressing and in the retrogressing
economy. 7. The conputation of profit and loss.
B. The Condemnation of Profit
1. Economics and the abolition of profit. 2. The consequences
of the abolition of profit. 3. The anti-profit arguments. 4. The
equality argument. 5. Communism and poverty. 6. The moral condemnation
of the profit motive. 7. The static mentality.
C. The Alternative
X. Wages, Unemployment and Inflation
1. Wages ultimately paid by the consumers. 2. What makes wages rise.
3. What causes unemployment 4. Credit expansion no substitute for
capital 5. Inflation cannot go on endlessly. 6. The policy of the
unions. 7. The purchasing power argument. 8. Wage rates as such
not inflationary. 9. The dilemma of present day policies. 10. Insincerity
in the fight against inflation. 11. The importance of sound monetary
XI. Economic Teaching at the Universities
1. Methods of the "progressive" teachers. 2. The alleged
impartiality of the universities. 3. How modern history is taught.
4. The Proscription of sound economics.
XII. Trends Can Change
XIII. The Political Chances of Genuine
XIV. The Gold Problem
1. The fiction of government omnipotence. 2. The "cheap-money"
fallacy. 3. The failure of minimum wage legislation and of union
coercion. 4. The inescapable consequence, namely, the United States
government gold holdings will shrink.
XV. Capital Supply and American Prosperity
XVI. Liberty and Its Antithesis
XVII. My Contributions to Economic Theory
Also: The Essential von Mises
by Murray N. Rothbard
I. The Austrian School
II. Mises and "Austrian Economics": The Theory of
Money and Credit
III. Mises on the Business Cycle
IV. Mises in the Inter-Ware Period
V. Socialism and Economic Calculation
VI. Mises on the Methodology of Economics
VII. Human Action
VIII. Mises in America
IX. The Way Out; Hope for the Futures
Salute to Von Mises by Dr. Henry Hazlitt
Mises' Private Seminar, Prof. Gottfried Haberler
How Mises Changes My Mind, Dr. Albert Hunold
Ludwig von Mises, Distinguished Fellow Citation