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Human Action: A Treatise on Economics

Human Action: A Treatise on Economics By Ludwig von Mises Bettina Bien Greaves Human Action A Treatise on Economics In the foreword to Human Action A Treatise on Economics Mises explains complex market phenomena as the outcomes of countless conscious purposive actions choices and preferences of individuals eac

  • Title: Human Action: A Treatise on Economics
  • Author: Ludwig von Mises Bettina Bien Greaves
  • ISBN: 9780865976306
  • Page: 180
  • Format: Hardcover
  • Human Action: A Treatise on Economics By Ludwig von Mises Bettina Bien Greaves In the foreword to Human Action A Treatise on Economics, Mises explains complex market phenomena as the outcomes of countless conscious, purposive actions, choices, and preferences of individuals, each of whom was trying as best as he or she could under the circumstances to attain various wants and ends and to avoid undesired consequences It is individual choices inIn the foreword to Human Action A Treatise on Economics, Mises explains complex market phenomena as the outcomes of countless conscious, purposive actions, choices, and preferences of individuals, each of whom was trying as best as he or she could under the circumstances to attain various wants and ends and to avoid undesired consequences It is individual choices in response to personal subjective value judgments that ultimately determine market phenomena supply and demand, prices, the pattern of production, and even profits and losses Although governments may presume to set prices, it is individuals who, by their actions and choices through competitive bidding for money, products, and services, actually determine prices Thus, Mises presents economics not as a study of material goods, services, and products but as a study of human actions He sees the science of human action, praxeology, as a science of reason and logic, which recognizes a regularity in the sequence and interrelationships among market phenomena Mises defends the methodology of praxeology against the criticisms of Marxists, socialists, positivists, and mathematical statisticians.Mises attributes the tremendous technological progress and the consequent increase in wealth and general welfare in the last two centuries to the introduction of liberal government policies based on free market economic teachings, creating an economic and political envi
    Human Action: A Treatise on Economics By Ludwig von Mises Bettina Bien Greaves

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    Human Action: A Treatise on Economics

    One thought on “Human Action: A Treatise on Economics

    1. Paul on said:

      One of the most important books of the 20th century, not yet as influential as it deserves to be.I was brought to this book in 2009 after a growing feeling of dissatisfaction with expert explanations being offered for the various financial and economic calamities that seemed to be happening worldwide Economic commentary by journalists and pundits struck me as being opaque, partisan, and contradictory Gradually I had become interested in the ideas of the so called Austrian school of free market e [...]

    2. Brian Michels on said:

      There cannot be a serious conversation about economics without Mise s Human Action is the definition of Free Market and delivers the goods for a just economy while cutting down to size any alternative economic system.This is a must read in your lifetime book The sooner the better

    3. Clif on said:

      Ludwig von Mises is a major contributor to what is called the Austrian School of economics Human Reason is his magnum opus, a thorough going look at the way that the innate human desire to decrease uneasiness is the pursuit for which capitalism is the mechanism.The thesis is simple Human beings take action to make things better for themselves If we were satisfied, there would be no economy But most of us will be cautious in what we do, avoiding as much risk as possible in our attempt to get what [...]

    4. Kevin Cole on said:

      I used to hate economics because I thought it related to nothing in my life Certain others then began showing me, in flashes, that I was wrong But it was Mises who not only showed, but to my mind proved economics has everything to do with my life because economics doesn t exist without people behaving as people.Whimsical example If you re in the habit of buying a pound of Brazilian coffee for 1 every week, then you hear on the news that an unexpected freeze has hit Brazil, with analysts expectin [...]

    5. Robert Taylor on said:

      After having read the first 500 pages 3 times over the course of 2 years, I finally completed my reading of Human Action Without being overly poetic, it is by far the seminal intellectual book of the 20th century, and probably the most important contribution to human knowledge so far.It may seem audacious for me to say something like that, but given that ANY other book dealing with one of the physical sciences like a book on Advanced Quantum Mechanics or any other science for that matter can onl [...]

    6. Ross on said:

      Human Action is considered by many to be the definitive theoretical work for what is known as the Austrian school of economics Reading it was 10 weeks of brain stretching concentration, peppered liberally with moments of personal paradigm shaking, and demystification of how our actions affect each other It enhanced my appreciation of the beautiful way in which life orders itself.In the first section of this masterwork, Mises gets right down to laying a solid epistemological and methodological fo [...]

    7. Monica Perez on said:

      The best work on economics ever written If Mises had been an anarchist he d have been perfect.

    8. Jay on said:

      To the modern reader, this is probably a three star book if they are economics enthusiasts , but given that it was written the 1930s 40 s, it gets four starts for it s importance at the time Slogging through Von Mises magnum opus was no easy task, not because it s particularly hard although one section was full of equations and went it one ear and out the other but because it s fairly dry with nuggets of humor and passion It s amazing how much we take for granted now that wasn t so obvious in Mi [...]

    9. Dave on said:

      This was very interesting I think the Austrian economics by itself would not have provided the economic prosperity we have experienced until 2000 Austrian economics expects people to have a long term perspective for future growth and based our recent experiences this is highly unlikely Example you pay an above subsistence wages to your employees because they drive you top line revenue growth Prosperity of the labor pool means you sell products and during times of slow demand people needs do not [...]

    10. David on said:

      There are so many problems with this work The fundamental is a rejection of empirical observations He dismisses all attempts to understand Economics by looking at historical data or using mathematics as WRONG He sees all human actions as irreducible and too complex to be understood He then builds an entire argument ostensibly on rationality If you look from a probabilistic world view, you see that each step he takes away from an empirical fact introduces uncertainty Since each claim that is pill [...]

    11. Eric Sexton on said:

      I agree with the other reviewers who claimed that this is one of the most important books of the twentieth century In fact, if Mises approach is indeed correct, this is undoubtedly one of the most important books in the history of human civilization In Human Action Mises describes an a priori approach to the social sciences which he terms praxeology Although most of the book deals with the arm of praxeology specific to economics catallactics Mises repeatedly reminds the reader that praxeological [...]

    12. Patrick Peterson on said:

      This book is one of the greatest of the 20th century and will endure as a bright beacon of wisdom for at least another century.I began this book in a curious, but still recommended fashion.Because of it s size over 800 pages and at times, especially in the beginning, difficulty, I chose to use it as a reference book If I came across an idea critique of free market capitalism that bothered me, or one which I thought, there is no way the free market can solve X problem then I simply looked up the [...]

    13. Allen on said:

      Von Mises makes a case for laissez faire captialism that is insightful and I guess, I m no logician consistent His main point is that economics is like logic or mathematics, an abstract law that requires discovery through careful reasoning, and that trying to live without adjusting one s behavior to this reality produces frustration and failure The scope of the book is huge and von Mises is bold in his proclamations Put on your thinking cap and get out your philosophy glossary if you re going to [...]

    14. Michael Jones on said:

      This book has had a powerful influence on many It is definitely highly philosophical and reminded me of reading Cornelius Van Til For example, epistemological how we know what we know issues regarding human action affect our perceptions of the actions and their value on the free market This man was a deep thinker Honestly, much of it went over my head as I tried to grapple with it because he doesn t use all that many practical examples.However, at a philosophical level, it provides a strong defe [...]

    15. Willie Red on said:

      This is and Man, Economy, and State by Murray N Rothbard are works of genius

    16. Jacob Aitken on said:

      All deductive systems are dangerous if formulated incorrectly Their appeal lies in their power, and Mises s system is powerful indeed Mises advances Praxeology, an economic doctrine emerging from the Classical School when it was realized that human action and not the inherent value of an object is what drove economics Mises 3 Since our knowledge is limited, our choices will always have an element of uncertainty.Thus, Mises can advance his main theorem Human action is purposeful action And the se [...]

    17. Jake on said:

      Ludwig von Mises is a god among free market capitalist libertarians Since conservatives now seem to think being an intellectual is a bad thing, I had to go back a few decades in the hopes of reading a real thinker from the right I wasn t disappointed in von Mises for the first few hundred pages, he was thoughtful and academic He started to get dogmatic and dull after that He stated at the beginning that he wasn t interested in morality or what we should do, but only with what works economically [...]

    18. Stefan on said:

      An absolutely BRILLIANT book, a true eye opener that goes way beyond economics, destroying innumerable myths It explains human action in such terms that one reaches a true understanding of society and politics.Prof.von Mises distinguished himself by accurately predicting the outcome of various policies and ideologies.In 1922, he wrote his Gemeinwirtschaft Socialism , in which he predicted the fate of the recently founded USSR, including the economic collapse, the famines, the dictatorship, the o [...]

    19. Arsen Zahray on said:

      One of the most insightful books on economics I ve ever read It contains a lot of conclusions which it took me some time to achieve on my own, and than some .Even through it s rather long, this is one of the books I think that everybody should read.

    20. James on said:

      Great book Another must read for anyone intrested in Austian economics It is a bit dry at times But, if that s a surprise to you,you probably shouldn t be reading this Mises is a favorite of mine, so I really had a heard time writting that last part.

    21. Mattheus Guttenberg on said:

      5 star massive treatise on economic principles from the founder of the Austrian school of economics.

    22. Todd on said:

      Although it is a lengthy book, it is well worth reading once in one s lifetime the sooner, the better Very much von Mises opus magnum, it is cohesive and comprehensive than many of his other works If you read only one book by von Mises, read this one It is not simply a text on economic theory, but it is indeed a treatise on human action, though obviously with specific looks at its impact on scarcity and methods to deal with it.Von Mises keeps a clinical, logical, detached viewpoint for most of [...]

    23. Jerry on said:

      Nobody is in a position to decree what should make a fellow man happier The Market economy is the social system of the division of labor under private ownership of the means of production Everybody acts on his own behalf but everybody s actions aim at the satisfaction of other people s needs as well as at the satisfaction of his own Everybody in acting serves his fellow citizens Everybody, on the other hand, is served by his fellow citizens The market directs the individual s activities into tho [...]

    24. Sean Rosenthal on said:

      Interesting Quotes It is a poor makeshift to dispose of a theory by referring to its historical background, to the spirit of its time, to the material conditions of the country of its origin, and to any personal qualities of its authors A theory is subject to the tribunal of reason alone The yardstick to be applied is always the yardstick of reason Ludwig von Mises, Human Action There is, of course, no guarantee that the voters will entrust the office to the most competent candidate But no other [...]

    25. Dennis Murphy on said:

      Human Action a Treatise on Economics by Ludwig von Mises represents the last of the great Austrian Economists Hayek was his own thing, and I ll be looking into him in good time As for the work, Human Action is a beautiful display of a magnum opus in service to a dead end The first edition of his book came out in 1940, and it shows While the book is now in a third edition with a number of updates, there s a slightly schizophrenic feel to some of the chapters, with some arguments clearly made in t [...]

    26. Eric on said:

      A monumental classic work from the Austrian School Comprehensive and thorough is an understatement Quotes I want to remember that are central to his economic and political philosophy On Economics Economics is not about goods and services, it is about the actions of living men On Felt Uneasiness Strictly speaking the end, goal or aim of any action is always the relief from a felt uneasiness p92 What acting man wants to know is how he must employ the available means for the best possible the most [...]

    27. Jared Tobin on said:

      I majored in economics and have maintained a fairly solid and technical knowledge of modern micro and game theory and such I had never had much serious exposure to the Austrian school my knowledge of Austrian economics had mainly come from poorly informed but enthusiastic denizens of various internet message boards or what have you.I was not expecting Mises s great work to be the profound piece of scholarship that it is It is an exceptional, truly memorable work Throughout the text especially ar [...]

    28. Void lon iXaarii on said:

      Probably the most abstract book on economics human action On the downside sometimes the author tends to take rigor a bit too far for fun and I actually initially even skipped some beginning chapters, however given what interesting and surprising results you can eventually reach I guess it makes sense for those sections to be there You re likely to encounter subjects others have written whole books about condensed into a few phrases and some symbolic notations on the upside however, some results [...]

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