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Ludwig Von Mises: Fountainhead of the Modern Microeconomic Revolution

by Eamonn Butler

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The Austrian economist Ludwig von Mises is increasingly recognized as one of the most important originators of modern economic thought. This book studies his ideas in a clear and systematic way and pulls out from Mises' own writings the main themes of his work. Mises' central theme is an emphasis on microeconomics. All real economic decisions, he insists, are taken by particular people at particular times and places; the motivating forces, therefore, are personal and psychological. In this view, economics is not a science at all, but a discipline more like mathematics or geometry. Its principles are deduced not by observation and experiment, but from certain axiomatic facts about the nature of human choice. This basic insight allows Mises to study important topics such as entrepreneurship and competition in new and fruitful ways.… (more)
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Good introduction to von Mises' economic thought. Analyzes him fairly, and gives some balance to criticisms as well as his strong points. Simplifies some of his more complex ideas, and makes them more palatable. ( )
  HadriantheBlind | Mar 29, 2013 |
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The Austrian economist Ludwig von Mises is increasingly recognized as one of the most important originators of modern economic thought. This book studies his ideas in a clear and systematic way and pulls out from Mises' own writings the main themes of his work. Mises' central theme is an emphasis on microeconomics. All real economic decisions, he insists, are taken by particular people at particular times and places; the motivating forces, therefore, are personal and psychological. In this view, economics is not a science at all, but a discipline more like mathematics or geometry. Its principles are deduced not by observation and experiment, but from certain axiomatic facts about the nature of human choice. This basic insight allows Mises to study important topics such as entrepreneurship and competition in new and fruitful ways.

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