Free Market Masters: Ludwig von Mises

Ludwig von Mises was one of the greatest economists and political scientists of the twentieth century. He revolutionised the understanding of money, inflation and recessions; comprehensively refuted the arguments for socialism; and provided a devastating critique of the methodologies of mainstream economics. His contributions to the Austrian School laid the intellectual groundwork for thinkers such as F. A. Hayek, Murray Rothbard and Israel Kirzner.
In Ludwig von Mises - A Primer , Eamonn Butler provides a comprehensive yet accessible overview of Mises’ outstanding achievements. At a time of economic crisis, this monograph makes it clear that Mises’ work is highly relevant today. Indeed, while mainstream economics has been found wanting, the latest recession appears to have been entirely consistent with his analysis. Furthermore, the poor performance of state health and education services can be explained by Mises’ Austrian theories. Nevertheless, Mises remains neglected by the economics profession, policy makers and academics. This readable primer explains why his work should be at the core of economic thinking.

[@laznboyyo1]

If there was one man who I truly wish was alive in today's time to save the West... it's Ludwig von Mises.

[@RabbitConfirmed]

Same

[@aeronothis5420]

I needed this comment today

[@kai89tracid]

kzbin.info/www/bejne/qZ-Tn4Cfi5yod7c

[@kai89tracid]

Korwin the King

[@wtfhah]

Von Mises was a card-carrying fascist in the Austrian "Fatherland Front" Party He joined this fascist party of his own will

[@jccusell]

The discrepancy between the reasonableness of these arguments and their reputation is ridiculous.

[@charly4323]

Of course, governments spread the theories that benefit them (keynesian economics) and censor or hide those that don't benefit them.

[@juandeni4956]

I'm convinced that Ludwig von Mises is one of the most underestimated men that have studied the Economy sistematically.

[@wtfhah]

Ludwig Von Mises was a card-carrying member of the "Fatherland Front" fascist party. We still have his membership number of both the party & the fascist social club "On 1 March 1934, at the Austrian Chamber of Commerce where [Von Mises] worked as a business sector lobbyist, Mises became member 282632 of the Patriotic Front and member number 406183 of Werk Neues Leben the official Fascist social club (Hülsmann 2007, 677, n149)." Mises' fascist party membership cards can still be seen in his archives in Pennsylvania Mises was pro-fascism & anti-communism. That should clue you in right there This is what Ludwig Von Mises wrote about fascism in 1927: "It cannot be denied that Fascism and similar movements aiming at the establishment of dictatorships are full of the best intentions and that their intervention has, for the moment, saved European civilization."

[@Ron-kz6mn]

@@wtfhah fascism>communism sure, but mises was far from a fascist, how could a fascist believe in free markets and the destruction of the state?

[@wtfhah]

@@Ron-kz6mn no, communism is greater than fascism Von Mises joined the fascist party Von Mises actually believed government was a positive overall

[@bartoszkonopacki8983]

@@wtfhah It sometimes takes new generation to weed out old delusions, and yes, he was mistaken about fascism, to some extent. It's hard to say how much it delayed/stopped or even contributed to the ''communisation of European civilization''. Now, Rothbard picked up after him, free of pro-government delusions. ;)

[@wtfhah]

@@bartoszkonopacki8983 Rothbard was even more of an idiot & Rothbard also has dehumanizing & fascistic views

[@daveyschneider]

i would like to hear this guy explain every aspect of life to me in videos like this with his classy british accent.

[@RabbitConfirmed]

lol haha

[@kai89tracid]

kzbin.info/www/bejne/qZ-Tn4Cfi5yod7c

[@lukasnummer1]

One of the greatest social philosophers and the greatest economic thinker of all time. I was blown away when I read his "Liberalism" around ten years ago and I was only about to discover his other works... it changed my life. I owe that to Ron Paul, whom I had first heard referring to someone called "Ludwig von Mises" frequently on the campaign trail.

[@erelpc]

Mises. That's more like it. Not like that Adam Smith bloke, way too compromised in his theories.

[@quinnimon]

Renato Moicano sent me here

[@yurinator6380]

Me too

[@DamaniJones]

This was very enjoyable AND educational.

[@RabbitConfirmed]

Ludwig von Mises is life

[@wtfhah]

Ludwig Von Mises was a card-carrying member of the "Fatherland Front" fascist party. We still have his membership number of both the party & the fascist social club "On 1 March 1934, at the Austrian Chamber of Commerce where [Von Mises] worked as a business sector lobbyist, Mises became member 282632 of the Patriotic Front and member number 406183 of Werk Neues Leben the official Fascist social club (Hülsmann 2007, 677, n149)." Mises' fascist party membership cards can still be seen in his archives in Pennsylvania Mises was pro-fascism & anti-communism. That should clue you in right there This is what Ludwig Von Mises wrote about fascism in 1927: "It cannot be denied that Fascism and similar movements aiming at the establishment of dictatorships are full of the best intentions and that their intervention has, for the moment, saved European civilization."

[@RabbitConfirmed]

​@@wtfhah The way you try to cut out a specific quote without context and try to make him look bad is disgusting. Have you ever considered working for CNN? Because I think you would fit right in. Also the quote is still correct, within the whole context of what he wrote. Mises was always against centralizations and tyrannies. He saw what socialism did both in Germany and in Russia. He experienced it on his own. If you want socialism, then I suggest you to build your own country with people who think alike. Then see how long you can sustain. In a Libertarian world that is no problem. You can do this. It's the socialists, that have a problem with people like us having our own "free" countries while their country turns slowly into shit every single time. And they always blame it on everyone else and claim the only solution would be a global socialism. What a Joke.

[@wtfhah]

@@RabbitConfirmed Mises was himself a card-carrying fascist & we still have his membership card of the Austria Fascist "Fatherland Front" party "Mises (1985 [1927], 50)-- who sought to be the intellectual Fuhrer of a Nazi-Classical Liberal Pact-- advised Fascists how to hold power permanently: "The great danger threatening domestic policy from the side of Fascism lies in its complete faith in the decisive power of violence. In order to assure success, one must be imbued with the will to victory and always proceed violently. This is its highest principle ... The suppression of all opposition by sheer violence is a most unsuitable way to win adherents to one's cause. Result to naked force- that is, without justification in terms of intellectual arguments accepted by public opinion-- merely gains new friends for those whom one is thereby trying to combat. In a battle between force and an idea, the latter always prevails [emphases added]." books.google.com/books?id=Vg5ADwAAQBAJ&pg=PA67&lpg=PA67&dq=%22advised+Fascists+how+to+hold+power+permanently:+%22The+great+danger+threatening+domestic+policy+from%22&source=bl&ots=-UDq2kUANd&sig=ACfU3U3lumxoqRLfS9nTALT8jWgw8QjB7A&hl=en&sa=X&ved=2ahUKEwj5kL2EgevwAhXmB50JHWceAmUQ6AEwAHoECAQQAw Mises was a fascist and cheered for the fascist victory in Europe over communism/socialism Ludwig Von Mises was literally a card-carrying fascist in the 1930s lol, why did you cite him? Mises did not oppose fascism, and through his other writings one can see that Mises did in fact value authoritarian control over the unruly masses. Even if it was a temporary fix in his view. Mises himself writes: "You have the choice, they say, between the tyranny of men from the scum and the benevolent rule of wise kings and aristocracies... [the laborer] must be deprived of the franchise. All political power must be vested in the upper classes. Then the populace will be rendered harmless. What the masses need is to be held under tight control. If they are left free they will fall an easy prey... Save them by establishing in time the oligarchic paternal rule of the best, of the elite, of the aristocracy."[46] This system for Mises is "Classical Liberalism" which Mises explicates upon. "The program of liberalism, therefore, if condensed into a single word, would have to read: property [Mises' emphases] ... All the other demands of liberalism result from this fundamental demand... The victory of Fascism in a number of countries is only an episode in the long series of struggles over the problem of property." Mises here advocates for the side of Fascists protecting property from socialists & workers' uprising.[47] "'von' Mises 'took great care to destroy any evidence--from receipts to love letters--anything that could have been useful to potential opponents' ... he clearly did not want to invite confrontations about his 1927 defense of 'Fascism' and his 1940 retreat to safety. Raico (2012, 258, n7), Mises Institute Senior Fellow, revealed that Mises was lying: "When I undertook to translate Liberalismus into English in the late 1950s, Mises at one point suggested that I include a translator's note explaining the historical context of these and similar remarks on Italian [sic] Fascism. My reply, in retrospect mistaken, was that such a note was superfluous, since the grounds for the views he expressed in 1927 were obvious. The English translation appeared, unfortunately, without any such explanation."[48]

[@RabbitConfirmed]

@@wtfhah Must be an Antifa member, nobody is so incredibly stupid.

[@wtfhah]

@@RabbitConfirmed fascism is anti-communism... communism has nothing to do with fascism Actually it was Karl Polanyi who said that MIses' "liberalism" was just an ill-fitting mask on a fascist face Polanyi writes this "fascism is condoned as the safeguard of liberal economics" (Polanyi, 1935, p. 392)

[@RN-lo6xc]

Moicano brought me here

[@adrienchartier]

Same

[@davidburns7045]

This is fantastically well done.

[@hectorplanam5170]

Was one great economist and political

[@lmqs94]

Wow. Such a great primer.

[@jeannelson8403]

Shout-out to Money Moicano for making me learn about economy!

[@zelda12346]

Wait, so I was right? Economics isn't a science but simply the philosophy of resource distribution? This is the first video I have watched pertaining to Mises, and just like Friedman, everything in it just makes sense.

[@eKoush]

mises is rock solid logic. you will love praxeology.

[@gabbar51ngh]

Austrian economics is king.

[@paranadasimple7087]

@@eKoush yeah dude, that is why it is the same thing when a king has 10000 people working to build a pyramid so that he could be closer to god than an enterprise having 10000 people to build the same pyramid for profit. Both are human behavior right? Give me a fucking break, social context matters and the way Mises approaches economics is ideologically and empirical false. He does not understand what profits can do to people.

[@echo2374]

@@paranadasimple7087 An enterprise can only hire 10,000 people if 10,000 people are willing to work there. Providing your services in a free market economy is a mutually beneficial exchange , as opposed to a king where he enslaved the 10k.

[@paranadasimple7087]

@@echo2374 a company can only hire 10000 if 10000 are willing to work there. Geez, do you know what the reserve army of labor is? Do you also understand that capitalism does not lead to full employment? Specially when it comes to reproducible work. Check out what happens to those who don't own the means of production and that the only thing they have to offer is their labor. We can easily measure the rate of exploitation, without making a moral judge btw, just analytically. Just because a trade went forward. It does not mean that both parties mutually benefit equally, you have to remember that every action is MORE or LESS voluntary, we cannot talk in the absolute here.

[@TheGUGZIE]

Hi I went to the website and did not find the Primer available for download. Did anyone happen to download it in PDF before it was taken down?

[@reecealeck8314]

❗️Amazing video 👍❗️

[@AlphaEdgeMedia1]

I approve of this message!

[@bingeltube]

Recommendable, but way too short doing injustice to von Mises!

[@roberthixon9800]

Good accurate brief summing up of Mises and finance in general. Robert Hx

[@lukecockburn1140]

Anyone know where this was filmed?

[@Smashburn06]

Thank you for the share! I had no idea who Mises was

[@eren_krugerTV]

Menos intervencionismo do Estado e mais Mercado. Menos impostos mais trabalhos. O que gera pobreza é o Estado, um Mercado Livre sem intervenção gera apenas riqueza.

[@Paul_Brainstorm]

Спасибо большое!

[@wagnergitirana]

I can measure the value of the materials putting into a Montblanc Meisterstück pen versus a BIC pen, not to mention the craftsmanship. It’s not only the emotional value.

[@sonofode902]

Beautiful.

[@migsy2115]

THANKS for Making this so OPAQUE & VAGUE that WE Don't Have a CLUE About Basic Economics OR Ludwig Von Meses Thanks to YOUR Wishy Washy NON SPECIFIC Video. Mate. Value = SUPPLY & DEMAND BTW. Thanks for making that CLEAR.

[@charleschase6428]

Von Mises did his Masters Thesis on Reeses Pieces!

[@user-rx4uk9lp1i]

Economic my sunshine is about relationship in society focused on exchanging, and that is a good answear. Everything else is divereate.

[@ernstkurzmann8318]

Da muss ich also Mises-Kenner (beschäftige mich seit meiner Jugendzeit, also seit ca. 40 Jahren mit Mises und seinen Werken und bin beruflich ebenso - als Unternehmensberater - mit Ökonomie beschäftigt) jedoch folgendes klarstellen: Mises sieht in seiner Praxeologie eine apriorische Wissenschaft und keine empirische Wissenschaft. Die Praxeologie von Mises ist durchaus vergleichbar der Logik oder auch der Mathematik mit dem einzigen wesentlichen Unterschied, dass sich die Praxeologie der unumkehrbare "Zeitkomponente" (historische Zeit) bedient und sich zwar auf die Wirklichkeit bezieht (begrifflich und vollinhaltlich), diese Wirklichkeit jedoch aufgrund unendlich vieler Einflussgrößen sich jedoch einer empirischen Untersuchung entzieht. Ich würde so sagen: Man benötigt die Mises´sche Ökonomie zum Klären der Gedanken und zum Klären von Zusammenhängen; sie ist sozusagen die Vorstufe zu einer möglicherweise empirischen Wissenschaft, die jedoch aus Mises´scher Sicht nicht Ökonomie sein kann. Denn Ökonomie ist die "Logik des Handels" und das nicht nur wirtschaftlicher Natur, sondern allem menschlichen Handelns.

[@JM-co6rf]

free markets > centralized monopoly planning

[@estebanf.rivero6195]

Hello, could I share this content on my social media?, of course, I will give all credits, I just want to share this content with Spanish people who are not able to speak English.

[@nascar0509]

"Credit binges" such as S.M.E. and personal debt that are not if but when they cause the next big financial crash!

[@EntelSidious_gamzeylmz]

Thanks for the informative video, the other person who needs some education is that barista

[@nicolaslatorre810]

The barista knows more because she knows that capuccino takes more labor to make than a latte. Completely destroyed his thesis. That's the problem with the Austrian school, it's blind sighted. Don't get me wrong so is the Marxist school.

[@avasdv]

Don't fear the government Don't fear the FED use them. Use the cycles

[@lw393]

Watched this because I'm reading Buckley's God and Man at Yale which mentions Von Mises. I had heard of Hayek, but not him. Sadly, 69 years later, the academic world has gone even further down the trail of anti religion and anti individuality that Buckley foresaw.

[@gregorysagegreene]

O-oh? There go all the 2D-axes.

[@bodoque_csm]

Money Moicano brought me here

[@TheOrphicLyre]

Mises is my homeboy

[@antoinelavoisier9784]

Why does everyone seem compelled to put loud, distracting, and annoying music over expository presentations?

[@danielboone8256]

You got it wrong on value. Austrian subjective value-as defined by Robert Murphy-merely means that how people value things are subjective, not that such thing don’t have any real objective value. One person may moral monstrosities higher than moral goodness, but that does not mean that there is no objective moral value. Rather, it merely means that the person *believes* something to be the case.

[@useyourbrain1232]

Great video, thank you. Small comment: modern empirical psychology would disagree with the statement that you can't understand and predict human behaviour (to some imperfect degree). Altough I think that the point is that you can't measure everyone's subjective state of mind per point in time in order to do central planning of prices and resources etc.?

Good observation

[@DeSma091]

Here from the ufc

[@blacksideknight3]

This is fascinating but I'm not sure I can agree with all the claims made (which no real evidence was given btw). They seem to argue that humans are completely unpredictable, as if we don't have patterns of behavior, but fields like Psychology would be utterly useless if this was the case. Advertising and I/O Psych (which rely on human predictability) would not be heavily invested in by businesses if they weren't profitable, which indicates that this notion is not quite right. I'm no economics expert, but I think it's entirely reasonable to consider it an applied soft science.

[@4anewdeal190]

When in doubt just scream out “You’re a bunch of socialists,” to win any argument.

[@laurentguyot3362]

99% of the time you are going to be right, socialism is everywhere and the argument was won a long time ago, the débate is over. Socialist don't talk about economy anymore they just talk about equality and how bad it is that there are riche people and poor people and all this demagogic bullshit.

[@spfcasual3786]

This was good for the believers. Not very convincing of the non believers

[@mm-tc3kt]

Yanis Varoufakis says that economics is religion with mathematics thrown in. I say that too many prices today are set without regard to value, typically well above the latter. With the technology at hand, prices are often based on dictat rather than value. A recent practice involves gas stations raising prices for holiday weekends, reminiscent of price- gouging when hurricanes approach.

[@AlbinovSK]

Prices in free trade economy reflect supply and demand, or in other words, scarcity of a product or service. For example, gasoline prices increase when there is higher demand for gasoline and lower supply (e.g. during oil shocks). However, you must also remember that some prices are set by government regulation or by private monopoly (although the latter is rare, most monopolies are sustained by government intervention). One of such regulation is minimum wage law since wage is nothing more than a price for labor.

[@mirzaahmed6589]

If people are buying gas at the higher prices, they clearly value it as highly, otherwise they would go without.

[@laurentguyot3362]

There is no such thing as "gouging" there is only supply and demand. When price increase more people will try to sell the product so it will increse offer and lowe prices. Prices are fondamental for the economy every time prices are artificialy modified (by the state for exemple) the market will go astray and people will suffer the consequence in the long terme (see venezuela)

[@solonsolon9496]

This is actually wrong in describing the business cycle, it's not interests rate manipulation. It's money creation, which is not the same thing.

[@lynianore7891]

They both induce the business cycle, since they provide false signals to entrepreneurs leading to clusters of errors

[@jasonkong6968]

"The computer can't know what people actually value" Facebook: hold my algorithums.

[@jwadaow]

Taking another drink can cure a hangover. Hair of the dog that bit you. Bad example.

[@indefenseofliberty5015]

It's a perfect example: hair of the dog is a temporary solution, and over time does even more damage than the initial hangover would have, leading to alcoholism if repeated often enough. That is the idea; what seems like a good solution in the short term only execerbates the problem in the long term.

[@OOCASHFLOW]

This moves way too slow less special effects and more substance. Talk faster bro

[@DipakBose-bq1vv]

Thatcher followed Hayek and Friedman and ruined Britain and destroyed the industrial base of Britain.

[@FakeNewsHunter]

Ah free market! Like a boxing court where you are free to bring in knifes, pistols, RPGs, tanks, chemical, weapons, drugs ... funny.

[@FakeNewsHunter]

Oh, I am wrong! I have watched the first minute! They work with ideology, psychologically, with some real stuff to cover whart we should not see.

[@FakeNewsHunter]

In fact this here is theory. The bombs are used only in reality.

[@MoiLiberty]

Nuremberg trials? Natural law? Divinity of the individual; We are are individually endowed by our creator with unalienable rights to life, liberty, property, pursuit of meaning? I fuvking hate it when you assholes conveniently leave out the spirit of the law when discussing the free market. Bring a real argument.

[@MrDanielsahne]

Lol, your name is "Kaufmann"(which means trader in german) but you hate free trade.

[@FakeNewsHunter]

@@MrDanielsahne The people should control free trade in a Socialist or communist society. If capitalists do "free trade" it soon no longer is free trade.

[@barryoreilly8020]

he could have thanked the waitress for the cappuccino, shitty values and poor choices heh

[@berntengdahl1519]

Too bad Mises never developed a good theory on interest rates. He should have read more Keynes.

[@Hiphop101ize]

Doing all this intricate camera work to set up the delivery of 1 line to five 1 idea per minute for 6 minutes... do better

[@TheErsatzMode]

The anti-scientific, ignorant nonsense conveyed in this video only holds substance in the false paradigm advocates of von Mises have buried their heads in. Human behaviour is far more predictable than you think, and resource demand can thusly be both predicted quite accurately, and resources fairly allocated. Furthermore, constant surveying of available resources could primarily serve to control distribution - it's hard to distribute more than we know we have available.

[@TheErsatzMode]

Resource Based Economy is the solution.

[@TheErsatzMode]

Only intelligent people capable of critical analysis would agree with my on the RBE. Sadly, such people are very rare.

[@TheErsatzMode]

Mind-controlled idiots don't support it. You could easily counter what I said by wring a few words as to how the RBE is so flawed. You won;t be able to because of your mind control programming preventing you from realising rational solutions.

[@TheErsatzMode]

No. You mistake trolling with the intolerance and impatience I have developed over the years when dealing with Manchurian candidates that dismiss the RBE in such a way. You are arguing that water is not wet, and without stating any case, by the way. If you want to qualify your position on this, go ahead. I won;t hold my breath.

[@patbateman2088]

Ersatz Mode if human behaviour is so predictable, why aren't you a highly successful entrepreneur?

[@saidalabed9417]

Renato Moicano brought me here. Mofos.