Summary
Outstanding among his many original contributions are his "circulation credit" theory of business cycles, which emphasizes the harm of cheap-money policies, and his demonstration that partial socialism is parasitic on capitalism and that a complete socialism would not even know how to solve the problem of economic calculation. If any single book can turn the ideological tide that has been running in recent years so heavily toward statism, socialism, and totalitarianism, Human Action is that book.
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Extract
The Case for Capitalism
There has just been published by the Yale University Press a book that is destined to become a landmark in the progress of economies. Its title is Human Action, and its author is Ludwig von Mises. It i...
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