Thursday, September 29, 2011
Happy Birthday Mises!
Today is the 130th anniversary of the birth of one of the great defenders of freedom, one of the great theorists of classical liberalism, Ludwig von Mises. He is one of the clearest, most persuasive free market thinkers who has ever written. I don't know how anyone can read Human Action and not come away with both a much clearer understanding of economics and persuaded of liberalism. His methodology is, to my mind, well ahead of its time. Indeed, that has been part of the problem with Austrian economics, that its way of understanding the economy is so far ahead of the rest of economics that it is not really understood at all by mainstream economics. The good news is that, with the introduction of complexity, self-organization, complex adaptive systems, etc. into mainstream economics, the mainstream is in fact moving more and more toward where the Austrian school is already. Which is a nice gift for such a great man.