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Human Action

908 pages, 2012

economics & politics

economics & politics

987 books
philosophy

philosophy

711 books
Takeaways
Description
Human Action: A Treatise on Economics was written by Ludwig von Mises and first published in 1949. It is the most comprehensive treatise on economics ever written by a member of the Austrian school of economics. Von Mises's contribution was very simple, yet at the same time extremely profound: he explained that the whole economy is the result of what individuals do. Individuals act, choose, cooperate, compete, and trade with one another. In this way, Mises explained how complex market phenomena develop. Mises did not simply describe economic phenomena - prices, wages, interest rates, money, monopoly, and even the trade cycle - he explained them as the outcomes of countless conscious, purposive actions, choices, and preferences of individuals, each of whom was trying as best as he or she could under the circumstances to attain various wants and ends and to avoid undesired consequences. Hence the title Human Action.
Understanding Human Action

In 'Human Action', Ludwig von Mises explores the concept of praxeology, the study of human action. He believes that all human actions are purposeful and driven by individual preferences. This is a fascinating concept to dig into, as it can help us understand our own actions and those of others better.

The Role of Economics

Mises emphasizes the importance of economics in human action. He argues that economics is not just about money, but about human choices and actions. This book encourages us to see economics from a different perspective, not just as a dry subject but as a vital part of our lives.

The Power of Free Market

One of the key points Mises makes in 'Human Action' is the power and efficiency of the free market. He argues that government intervention often leads to inefficiencies and problems. If you're interested in economics or politics, this is a must-read point to explore.

Critique of Socialism

Mises doesn't hold back in his critique of socialism. He believes that socialism fails to consider the individual's needs and desires, leading to economic inefficiency. If you're curious about different economic systems, you'll find his arguments thought-provoking.

The Importance of Individualism

Above all, 'Human Action' is a celebration of individualism. Mises argues that individual actions and choices drive society and the economy. This book will make you think about your own actions and their impact on the world around you.

Quotes 5

Human Action is a systematic work that covers nearly all of the major areas of theoretical economics. It is a monument of the best that the older, deductive, and 'Austrian' tradition has to offer.

Murray RothbardMurray Rothbard - Austrian School economist

Human Action is a profound and enlightening work. It is a comprehensive treatise on economic theory, and the economic calculation problem.

Friedrich HayekFriedrich Hayek - Nobel laureate economist

Human Action is a must-read for anyone interested in understanding the economic principles that govern our world. It is a timeless classic.

Ron PaulRon Paul - American politician

Human Action is a masterpiece that lays out the principles of economics in a way that is both accessible and profound.

Peter SchiffPeter Schiff - Investment broker

Human Action is a monumental work that provides a comprehensive understanding of economics and human behavior.

Thomas WoodsThomas Woods - Historian, economist
Murray RothbardFriedrich HayekRon PaulPeter SchiffThomas Woods

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