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This book presents the theoretical and practical arguments for liberalism. The term comes from the Latin word 'liber' (free). Mises defines liberalism as 'the liberal doctrine of the harmony of the rightly understood interests of all members of a free society, founded on the principle of private ownership of the means of production'. The foundation of liberalism, Mises says, rests on an understanding and appreciation of the institution of private property, social cooperation, the freedom idea, ethics and morality, democracy and the legitimate role of government. Liberalism is not a political party. The liberal program offers no special privileges to anyone; it aims at securing equality under law for everyone, so as to allow equal opportunity to all human beings to make their own choices and decisions. The role of government should be limited to protecting the lives, property, and freedom of its citizens to pursue their own ends and goals.
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Ludwig von Mises; Edited by Bettina Bien Greaves
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14 reviews
77 of 79 people found the following review helpful
A stellar defense of classical liberalism.
3 Jun 1998
Format:Paperback
Ludwig Von Mises had created a sensation in 1922 when he demolished all the intellectual arguements for socialism that had been advanced in defense of collectivist in his book Socialism. In 1927 Mises published his rebuttal to critics who had accused him of attacking the flaws of socialism without offering an alternative. Mises valiantly defends the liberalism of Burke, Locke,and Menger. He proscribed policies that even now are considered revolutionary i.e an end to national borders, the free flow of goods and people across borders, the immediate end to the brutal colonialism then popular in Europe, and vast limitations on state authority. Mises believed that there are two basic forms of human organization, coercion and cooperation, and that collectivism (socialism, fascism, communism) is capable of only using the former method and not the latter. Only liberalism maximizes the freedom of the individual.
47 of 50 people found the following review helpful
Excellent Introduction to Classical Liberalism
15 Feb 2002
Format:Paperback
It's a shame that the liberalism von Mises espouses must be pre-classed as "classical," since the word "liberal" has come to mean precisely the opposite of what von Mises and his predecessors in the eighteenth and nineteenth centuries meant by the word. In today's lexicon, his liberalism is closer to libertarianism, although I caution readers not to dismiss this book if they dismiss the political movement.
What von Mises intends to show in easy to read eloquent prose is that capitalism and democracy are natural complements to a free society. Betwixt the two, prosperity and freedom of choice have been maximized beyond all other systems, and the general well-being benefits all, even those on the lowest economic rung. This is not a comprehensive exegesis of economics that one will find in von Mises' "Human Action." Rather, it is a general survey of the dominant themes that are given their fuller voice in his more detailed analysis. Thus, this book is an excellent introduction to democratic economics in general and to capitalism in particular.
What makes the book particularly engaging is its polemical tone. It is not a polemic, but it never loses sight of its opponents, and frequently takes socialism and critics of capitalism to task for their anxiety over the merits of being free.
After a brief introduction that is thoroughly engaging, von Mises covers four broad themes: (1) The foundations of liberalism and its policies; (2) liberalism's economic policies; (3) implications of liberalism in foreign policy; and (4) how liberalism is manifested in the political process. It's in the last section that he deals with doctrinaire liberalism and why, short of necessary regulations, the market must be free if man is to be free. Von Mises is unapologetically extreme in his views, and those of us who have come to expect an interventionist economic system will see why a "well-regulated" market economy has shortcomings. Alas, however, von Mises does not address the circumstances surrounding deceit, fraud, and other malfeasance (which is the book's only shortcoming).
The "liberal" of today will also learn a great deal about himself. Von Mises explores the reasons for socialism's popularity and staying power, despite its predeliction towards despotism, totalitarianism, and ineptitude. Socialism has no rational basis for existence, but it does have a very strong psychological dynamic that von Mises admits (and frankly doesn't discuss enough in this book).
After reading this short volume, readers will likely want to investigate these ideas further. Von Mises was a prolific author, and tackles many issues in any number of his works. Certainly, "Socialism" and "Human Action" are two of his major works that may find interest. Furthermore, one of von Mises' pupils was Frederick Hayek, one of the preeminent thinkers of the twentieth century.
If you want a concise, short, and eloquent introduction to classical liberalism, I can think of no better book to serve this function. Eschew some of the latter-day libertarians, and read from the foundational author of our times.
21 of 22 people found the following review helpful
A Passionate Plea for Dispassionate Reason
22 Aug 2007
Format:Paperback
Mises wrote Liberalism in dark times. Depression and social unrest plagued Europe after the Great War. Fascists and Nazis were on the march in Italy, Germany, and Spain. Lenin and Stalin held Russia in an iron grip. It seemed that everyone was giving up on limited government and laissez faire. Mises understood that the future of civilization was at stake. Someone needed to revive the ideas of the enlightenment. Mises had already written lengthy books against inflation and socialism, but how many people outside of academia would read such long and sophisticated books? How could human reason prevail over the demagoguery of socialists and interventionists without a succinct statement of classical liberal arguments?
Liberalism is one of the most readable book that Mises wrote. It is concise and compelling. Mises makes a strong case for limited government in a mere 193 pages. The central message of this book is that capitalism is the only economic system that can deliver the prosperity and freedom that many of us take for granted in the West. Socialism leads inevitably to a rigid inefficient bureaucracy. Interventionism is a senseless, self defeating, absurd policy". Capitalism is the progressive system. Socialism is, in contrast, a reactionary system that would fail to feed the current population, were we to attempt to live under this system.
Given the length of this book, Mises does not explain his arguments as thoroughly, compared to Human Action or Socialism, an Economic and Sociological Analysis. Yet he does explain his main points, and these other books are long enough to deter many readers. For most people the detail of his other books is unnecessary, so reading Liberalism is a good way to economize on your time.
Times have changed. The fascists and Bolsheviks are long gone. Yet the ideas in this book remain relevant and important. There are still many people who reject the true liberalism of free markets in favor of welfare state liberalism. Also, socialism is not completely dead. Liberalism provides a means for people to understand the importance of liberty with relatively little effort. While the ideas in this book failed to turn interwar Europeans from socialism, it will surely contribute to the defense of liberty in the twenty-first century.
Liberalism is one of the most readable book that Mises wrote. It is concise and compelling. Mises makes a strong case for limited government in a mere 193 pages. The central message of this book is that capitalism is the only economic system that can deliver the prosperity and freedom that many of us take for granted in the West. Socialism leads inevitably to a rigid inefficient bureaucracy. Interventionism is a senseless, self defeating, absurd policy". Capitalism is the progressive system. Socialism is, in contrast, a reactionary system that would fail to feed the current population, were we to attempt to live under this system.
Given the length of this book, Mises does not explain his arguments as thoroughly, compared to Human Action or Socialism, an Economic and Sociological Analysis. Yet he does explain his main points, and these other books are long enough to deter many readers. For most people the detail of his other books is unnecessary, so reading Liberalism is a good way to economize on your time.
Times have changed. The fascists and Bolsheviks are long gone. Yet the ideas in this book remain relevant and important. There are still many people who reject the true liberalism of free markets in favor of welfare state liberalism. Also, socialism is not completely dead. Liberalism provides a means for people to understand the importance of liberty with relatively little effort. While the ideas in this book failed to turn interwar Europeans from socialism, it will surely contribute to the defense of liberty in the twenty-first century.
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