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The Ludwig von Mises Institute

Advancing Austrian Economics, Liberty, and Peace

Advancing the scholarship of liberty in the tradition of the Austrian School

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Written in 1940 as part of Nationaloekonomie, the German predecessor to Human Action. Translated from the German manuscript by Thomas Francis McManus and Heinrich Bund. First printed in 1998 by the Foundation for Economic Education, Irvington-on-Hudson, New York.Copyright © 1998 by Bettina Bien Greaves. Our appreciation is given to Mrs. Greaves for the permission to offer this book online for all to read. Online edition is copyright © 2004 by the Ludwig von Mises Institute.

  1. INTERFERENCE BY RESTRICTION (p. 17)
    1. The Nature of Restrictive Measures
    2. Costs and Benefits of Restrictive Measures
    3. The Restrictive Measure as a Privilege
    4. Restrictive Measures as Expenditures
  2. INTERFERENCE BY CONTROL (p. 23)
    1. The Alternative: Statutory Law Versus Economic Law
    2. The Reaction of the Market
    3. Minimum Wages and Unemployment
    4. The Political Consequences of Unemployment
  3. INFLATION AND CREDIT EXPANSION (p. 35)
    1. Inflation
    2. Credit Expansion
    3. Foreign Exchange Control
    4. The Flight of Capital and the Problem of “Hot Money”
  4. CONFISCATION AND SUBSIDIES (p. 51)
    1. Confiscation
    2. The Procurement of Funds for Public Expenditure
    3. Unprofitable Public Works and Subsidies
    4. “Altruistic” Entrepreneurship
  5. CORPORATIVISM AND SYNDICALISM (p. 61)
    1. Corporativism
    2. Syndicalism
  6. WAR ECONOMY (p. 67)
    1. War and the Market Economy
    2. Total War and War Socialism
    3. Market Economy and National Defense
  7. THE ECONOMIC, SOCIAL, AND POLITICAL CONSEQUENCES OF INTERVENTIONISM (p. 77)
    1. The Economic Consequences
    2. Parliamentary Government and Interventionism
    3. Freedom and the Economic System
    4. The Great Delusion
    5. The Source of Hitler’s Success
  8. CONCLUSIONS (p. 91)