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Human Action

Part Three: Economic Calculation

Chapter XI. Valuation Without Calculation

1. The Gradation of the Means
2. The Barter-Fiction of the Elementary Theory of Value and Prices
3. The Problem of Economic Calculation
4. Economic Calculation and the Market

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Human Action

Ludwig von Mises

The masterpiece first appeared in German in 1940 and then disappeared, only to reappear in English in 1949. It was a sensation, the largest and most scientific defense...

Select from the table of contents below to read this book.

Foreword to the 4th Edition by Bettina Bien Greaves
Foreword to the 3rd Edition by Ludwig von Mises
Introduction
Part One: Human Action
Part Two: Action Within the Framework of Society
Part Three: Economic Calculation
Part Four: Catallactics or Economics of the Market Society
Part Five: Social Cooperation Without a Market
- Chapter XXV. The Imaginary Constuction of a Socialist Society
- Chapter XXVI. The Impossibility of Economic Calculation Under Socialism
Part Six: The Hampered Market Economy
Part Seven: The Place of Economics in Society

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Money Supply
Monopoly and Competition
Other Schools of Thought
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Political Theory
Praxeology
Prices
Private Property
Production Theory
Subjectivism
Value and Exchange

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