Next October 10th will mark the 40th anniversary of the death of Ludwig von Mises, one of the prominent figures of the Austrian School of economics and one of the founders of modern libertarianism. Von Mises devoted his entire life as a scholar, first in Vienna in the early 20th century and then in New York, where he taught until 1969, to the rebuttal of the socialist theories and to the development of praxeology as a basic concept of human actions.
The anniversary of his death coincides with the worst financial crisis that the world has been through since the end of World War II – a crisis that has its origin in the excessive indebtedness of private and public sectors and the bubble burst on subprime mortgages. For many economists, it was caused by the easy-money monetary policy followed by the Fed for many years.
If Von Mises were alive today he would see that many of his predictions have become reality.
quarta-feira, junho 26, 2013
Ludwig von Mises was right
Ludwig von Mises and the current economic crisis: