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son whose spirit was unusually sharp right up to a very old age. The spirit of old Europe radiated from his whole personality. Towards the end of his life, he became darker and darker, just as Carl Menger once did …

act, all income must come from productivity, from the use of activity in conjunction with capital to better satisfy the needs of others. Redistribution, especially the hidden—but more important—monetary redistribution, hides this need, but does not eliminate it …

lead to an explosion of violence (revolutions, civil wars, uprisings), but also by the fact that it leads to a systematic overestimation regarding how well the existing order corresponds to the preferences of the people. It is similar to …

Quarterly Journal of Austrian Economics 18, no. 3 (Fall 2015)ABSTRACT: Ludwig von Mises’s most important legacy is the foundation and analysis of catallactics, i.e., the economics of interpersonal exchange, as a sub-discipline of praxeology, the science …

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.

Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.