Ludwig Mises
Ludwig Mises
Ludwig Heinrich Edler von Miseswas a theoretical Austrian School economist. He is best known for his work on praxeology, a study of human choice and action. Mises emigrated from Austria to the United States in 1940. Mises's writings have exerted significant influence on the libertarian movement in the United States since the mid-20th century...
ProfessionEconomist
Date of Birth29 September 1881
changes convey daily demand events image individual inflation information money periods price provide relation rough sharp slow supply
In periods of slow alterations in the relation between the supply of and the demand for money they do not convey any information at all. In periods of inflation and consequently of sharp price changes they provide a rough image of events which every individual experiences in his daily life.
beginning century economist england foremost latter
Edgeworth has been the foremost economist in England during the latter part of the 19th century and the beginning of the 20th century.
acquired belongs call capitalist daily democracy dispose held mean means power society
When we call a capitalist society a consumers' democracy we mean that the power to dispose of the means of production, which belongs to the entrepreneurs and capitalists, can only be acquired by means of the consumers' ballot, held daily in the marketplace.