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Encyclopedia > Human Action

Human Action: A Treatise on Economics is the magnum opus of the Austrian economist Ludwig von Mises. A comprehensive treatise on economics, it rigorously and uncompromisingly presents the case for the unhampered market economy; that is, laissez-faire capitalism. It rejects positivism within economics. It defends an a priori epistemology and underpins the science of "praxeology" with a foundation of methodological individualism and laws of apodictic certainty. Mises forcefully argues that the free-market economy not only outdistances any government-planned system, but ultimately serves as the foundation of civilisation itself. Magnum opus (sometimes Opus magnum, plural magna opera), from the Latin meaning great work,[1] refers to the best, most popular, or most renowned achievement of an author, artist, or composer, and most commonly one who has contributed a very large amount of material. ... Alan Greenspan, former chairman, United States Federal Reserve. ... Ludwig Heinrich Edler von Mises (September 29, 1881 – October 10, 1973) was a notable economist and a major influence on the modern libertarian movement. ... Laissez-faire capitalism is, roughly stated, the doctrine that the free market functions to the greatest good when left unfettered and unregulated by government. ... Positivism is a philosophy developed by Auguste Comte in the beginning of the 19th century, which stated that the only authentic knowledge is scientific knowledge. ... This article or section does not cite its references or sources. ... The terms a priori and a posteriori are used in philosophy to distinguish between two different types of propositional knowledge. ... It has been suggested that Meta-epistemology be merged into this article or section. ... Praxeology is the science of human action. ... Methodological individualism is a philosophical orientation toward explaining broad society-wide developments as the accumulation of decisions by individuals. ... Apodictic (Gr. ...


Nationalökonomie: Theorie Des Handelns und Wirthschaftens is the 1940 German-language predecessor to Human Action.

Contents

Contents

Part One: Human Action
I. Acting Man
II. The Epistemological Problems of the Sciences of Human Action
III. Economics and the Revolt Against Reason
IV. A First Analysis of the Category of Action
V. Time
VI. Uncertainty
VII. Action Within the World

Part Two: Actions Within the Framework of Society
VIII. Human Society
IX. The Role of Ideas
X. Exchange Within Society

Part Three: Economic Calculation
XI. Valuation Without Calculation
XII. The Sphere of Economic Calculation
XIII. Monetary Calculation as a Tool of Action

Part Four: Catallactics or Economics of the Market Society
XIV. The Scope and Method of Catallactics
XV. The Market
XVI. Prices
XVII. Indirect Exchange
XVIII. Action in the Passing of Time
XIX. The Rate of Interest
XX. Interest, Credit Expansion, and the Trade Cycle
XXI. Work and Wages
XXII. The Nonhuman Original Factors of Production
XXIII. The Data of the Market
XXIV. Harmony and Conflict of Interests

Part Five: Social Cooperation Without a Market
 XXV. The Imaginary Construction of a Socialist Society
XXVI. The Impossibility of Economic Calculation Under Socialism

Part Six: The Hampered Market Economy
XXVII. The Government and the Market
XXVIII. Interference by Taxation
XXIX. Restriction of Production
XXX. Interference with the Structure of Prices
XXXI. Currency and Credit Manipulation
XXXII. Confiscation and Redistribution
XXXIII. Syndicalism and Corporativism
XXXIV. The Economics of War
XXXV. The Welfare Principle Versus the Market Principle
XXXVI. The Crisis of Interventionism

Part Seven: The Place of Economics in Society
 XXXVII. The Nondescript Character of Economics
XXXVIII. The Place of Economics in Learning
XXXIX. Economics and the Essential Problems of Human Existence


Publishing history

The first edition of the work came out in 1949. The revised and expanded second edition came out in 1963. The revised third edition came out in 1966. The fourth edition came out in 1996, with revisions by Bettina B. Greaves.


See also

The Austrian School, also known as “the Vienna School” and as “the Psychological School”, is a school of economic thought that advocates adherence to strict methodological individualism. ... Methodenstreit is a German term referring to an intellectual controversy or debate over epistemology, research methodology, or the way in which academic inquiry is framed or pursued. ... Praxeology is the science of human action. ...

External link

  • Human Action by Ludwig von Mises (PDF 4th, Ed.)

  Results from FactBites:
 
Human Action chap2 - DiscoverLudwigVonMises.COM - PRODOS Institute Inc. (17231 words)
If it chooses human action as the subject matter of its inquiries, it cannot mean anything else than the categories of action which are proper to the human mind and are its projection into the external world of becoming and change.
It is the meaning that marks one action as the action of an individual and another action as the action of the state or of the municipality.
The content of human action, i.e., the ends aimed at and the means chosen and applied for the attainment of these ends, is determined by the personal qualities of every acting man. Individual man is the product of a long line of zoological evolution which has shaped his physiological inheritance.
Book Review -- Human Action: A Treatise on Economics (995 words)
Human Action is, in short, at once the most uncompromising and the most rigorously reasoned statement of the case for capitalism that has yet appeared.
In Human Action, Mises refined that argument, showing that market-based economic calculation through the price system was the institution whose development had enabled the emergence of a complex network of division of labor, without which modern civilization could never have arisen.
In Human Action, he restated this insight in the wider context of his refined exposition of the "Austrian" theory of capital and interest.
  More results at FactBites »


 

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