by Ludwig von Mises

Mises wrote this comprehensive, landmark work on economics in 1949, yet its importance is only now being widely recognized. Here Mises fully develops his controversial philosophy of the social sciences, his brilliant entrepreneurial theory of the market process, and his devastatingly consistent classical liberal perspective on the market economy. In the process, he creates an overarching system of extraordinary scope. Mises shows that deep economic understanding is not attained by virtuosity of mathematical technique but rather by subtlety and penetration of economic insight and interpretation. He discusses how economics is a natural outgrowth of human society and interaction, and no successful system of economic thought can ignore such factors. Mises also shows why economic freedom is not possible without personal freedom. This eloquently written book is Mises at his very best, and an example of why his influence on economics has grown tremendously in recent years.