Mises ( 1912 ) applied the marginal utility theory developed by Carl Menger to money.

Classical liberalism was revived in the 20th century by Ludwig von Mises and Friedrich Hayek, and further developed by Milton Friedman, Robert Nozick, Loren Lomasky, and Jan Narveson.

The quantity theory was developed by Simon Newcomb, Alfred de Foville, Irving Fisher, and Ludwig von Misesvon Mises, Ludwig Heinrich ; Theorie des Geldes und der Umlaufsmittel < nowiki > Theory of Money and Credit < nowiki ></ nowiki ></ ref > in the latter 19th and early 20th century, while it had been argued against by Karl Marx.

Mises developed his critique of socialism more completely in his 1922 book Socialism, an Economic and Sociological Analysis.

The concepts of monetary calculation, financial speculation, and entrepreneurship form the basis for the von Mises critique of socialism.

The price conveys embedded information about the abundance of resources as well as their desirability which in turn allows, on the basis of individual consensual decisions, corrections that prevent shortages and surpluses ; Mises and Hayek argued that this is the only possible solution, and without the information provided by market prices socialism lacks a method to rationally allocate resources.

As for socialism, Mises ( 1944 ) and Hayek ( 1937 ) insisted that bureaucrats in individual ministries could never coordinate their plans, not without a price system.

Mises and Hayek saw centralization as inevitable in socialism.

Mises insisted that socialist calculation is impossible because socialism precludes the exchange of capital goods in terms of a generally accepted medium of exchange, or money.

Mises therefore concluded that socialism lacks any clear tendency towards improvement in the capital structure of industry.

Initially sympathetic to Wieser's democratic socialism, Hayek's economic thinking shifted away from socialism and toward the classical liberalism of Carl Menger after reading Ludwig von Mises ' book Socialism.

This argument against socialism was made independently, at about the same time, by Ludwig von Mises.

Friedrich Hayek in particular elaborated the arguments of Weber and Mises about economic calculation into a central part of free market economics's intellectual assault on socialism, as well as into a model for the spontaneous coordination of " dispersed knowledge " in markets.

Critics of the British mixed economy, including Ludwig von Mises and Friedrich von Hayek, argued that what is called a mixed economy is a move toward socialism and increasing the influence of the state.

Austrian economists such as Ludwig Von Mises and Friedrich Hayek for example continually used the word " socialism " as a synonym for state socialism and central planning.

In 1938, for example, he reviewed the recently published English translation of Mises ’ s influential treatise Socialism for The New York Times, declaring it " a classic " and “ the most devastating analysis of socialism yet penned.

He further explained in Dissent in 1992 that " capitalism has been as unmistakable a success as socialism has been a failure " and complimented Milton Friedman, Friedrich Hayek, and Ludwig von Mises on their insistence of the free market's superiority.

In his youth Röpke was first inspired by socialism and afterwards by the Austrian School economist Ludwig von Mises.

The price conveys embedded information about the abundance of resources as well as their desirability which in turn allows, on the basis of individual consensual decisions, corrections that prevent shortages and surpluses ; Mises and Hayek argued that this is the only possible solution, and without the information provided by market prices socialism lacks a method to rationally allocate resources.

It was sometime after reading Socialism that Hayek began attending Ludwig von Mises ' private seminars, joining several of his university friends, including Fritz Machlup, Alfred Schutz, Felix Kaufmann, and Gottfried Haberler, who were also participating in Hayek's own, more general, private seminar.

As an answer to Hans Hellwigs complaints about the interventionist excesses of the Erhard ministry and the Ordoliberals, Mises wrote, “ I have no illusions about the true character of the politics and politicians of the social market economy .” According to Mises, Erhard ´ s teacher, Franz Oppenheimer “ taught more or less the New Frontier line of ” President Kennedy ´ s “ Harvard consultants ( Schlesinger, Galbraith, etc.

In Human Action ( chapter 18 ), Ludwig von Mises discusses time inconsistency: that sooner-occurring future intervals are valued more highly than later-occurring future intervals.

Ludwig von Mises later opined that Lassalle tried to make limited government look ridiculous, but that it was no more ridiculous than governments that concerned themselves with " the preparation of sauerkraut, with the manufacture of trouser buttons, or with the publication of newspapers.

Ludwig von Mises offered a more philosophical criticism, " The main deficiency of the velocity of circulation concept is that it does not start from the actions of individuals but looks at the problem from the angle of the whole economic system.

Ludwig von Mises, a classical liberal economist, argued that aiming for more equal incomes through state intervention necessarily leads to a reduction in national income and therefore average income.

The Austrian School economists, beginning with Ludwig von Mises, see regulations as problematic not only because they disrupt market processes, but also because they tend only to bring about more regulations.

* Ludwig von Mises, Socialism: An Economic and Sociological Analysis, Liberty Fund, 1922.

In 1922 Prandtl, together with Richard von Mises, founded the GAMM ( the International Association of Applied Mathematics and Mechanics ).

Hans F. Sennholz ( 3 February 1922 – 23 June 2007 ) ( born in Brambauer, Germany ) was an economist of the Austrian school of economics who studied under Ludwig von Mises.

* Liberalism ( book ), a 1927 book by Ludwig von Mises

He labeled the USSR an " evil empire " in the introduction to the book Requiem for Marx, published in 1993, and in an essay he wrote for the Ludwig von Mises Institute.

* Human Action, a book by the Austrian economist Ludwig von Mises.

Ludwig von Mises called the book the best introduction to thinking like an Austrian economist.

* Preface to von Mises ' book Epistemological Problems of Economics

Man, Economy, and State: A Treatise on Economic Principles, first published in 1962, is a book on economics by Murray Rothbard, and is one of the most important books in the Austrian School of economics ( others are Ludwig von Mises ' The Theory of Money and Credit and Human Action ).

In 2007, the Ludwig von Mises Institute collected together and published as a book all issues of the journal.

Many other authors were influenced by the book and used it as a starting point in their own work, including Jean-Baptiste Say, David Ricardo, Thomas Malthus and, later, Ludwig von Mises.

* Human Action, book by Ludwig von Mises from the Ludwig von Mises Institute

He also hosted an eight-lecture seminar covering the material in his book, The Politically Incorrect Guide to American History, to the Auburn University Academy for Lifelong Learners, hosted by the Mises Institute.

According to German alphabetical sorting, people with von in their surnames – of noble or non-noble descent alike – are listed in telephone books and other files under the rest of their name ( e. g., Ludwig von Mises would be under M in the phone book rather than V ).

The Myth of National Defense is a book edited by Hoppe, published in 2003 by the Ludwig von Mises Institute, and contributed to by many prominent anarcho-capitalists, about the merits of replacing government defense agencies with private defense agencies.

* PDF and ePub downloads of the book from Mises. org