The social, political, and economic conditions of our world today give Ludwig von Mises’s treatise a refreshing relevance matched by few other works written over the last century.
Socialist regimes have long gone to great lengths to replace all the independent institutions of civil society with the omnipotence of the state in all things.
Just as unilateral free trade results in a more solid economy for the countries that adopt it — even within an international economy of protectionism in other countries — so would a commodity-money based economy surrounded by fiat-money economies.
Liberty can be lost and so can the benefits of capital accumulation. The well developed capital structure is not a given. It can be eroded by central banks and by government policies and regulations.
