In Mises's view, interventionism is an inherently unstable policy because it creates new dislocations that would seem to cry out for further interventions, which, in turn, do not solve the problem.
In 1954, after a lifetime of serious theoretical work in economic science, Mises turned his attention to one of the great puzzles of all time: discovering why the intellectuals hate capitalism.
Mises explains that the core choice we face is between rational economic organization by market prices or the arbitrary dictates of government bureaucrats. There is no third way.
Mises presented his business cycle theory in its most elaborate form, applies it to the prevailing conditions, and discusses the policies that governments undertake that make recessions worse.
Mises describes the revolutionary meaning of capitalism in human history, and how it was responsible for the most spectacular increases in the standard of living of the common man ever.
Ludwig von Mises was the greatest economist of the twentieth century, but often readers are reluctant to tackle his major works. For readers like this, The Quotable Mises is ideal.
