Last Knight Live Blog: Final Entry - Kraus
This is the last post of a quite long journey across the content of the book. I have decided to stop here, i.e. omit the discussion of the last two chapters, Fragmentation of the Movement and Last Years, not because they are uninteresting, in a number respects they certainly are, but because I am not particularly interested in personal matters. Those of you who have followed this live blog more or less regularly will have noticed that it is theoretical matters which interest me most. In this particular respect, the reading of the book was more than just entertaining; it has been a profound intellectual experience for me. I have not only learned a great deal about a number of key aspects in doctrinal history, but have come to see more clearly along which lines economics can be improved. Those of you who have a serious interest in important problems in economics will benefit enormously from studying this biography. I also hope that you take the time to read great works by Mises himself, above all Socialism and Human Action, which are also among my most favorite books in general, and not just in economics. I would like to conclude with a profound quote from Human Action, which is included in the Epilogue, on the importance of studying economics.
The body of economic knowledge is an essential element in the structure of human civilization; it is the foundation upon which modern industrialism and all the moral, intellectual, technological, and therapeutic achievements of the last centuries have been built. It rests with men whether they will make the proper use of the rich treasure with which this knowledge provides them or whether they will leave it unused. But if they fail to take the best advantage of it and disregard its teachings and warnings, they will not annul economics; they will stamp out society and the human race.A special thank you is due to Dr. Hülsmann for writing this book, and to the Mises Institute for publishing it and for letting me to live-blog on it.