Interventionism - 9780865977396

Ludwig von Mises was the leading exponent of the Austrian School of economics throughout most of the twentieth century. He has long been regarded as a most knowledgeable and respected economist, even though his teachings were generally outside the mainstream. He wrote twenty-five books and hundreds of articles on human action, free markets, and political economy.

In Interventionism, Mises criticizes government interference in the market: regulations, wage and price controls, tariffs, special privileges, and subsidies for some at the expense of others. He points out that although enacted with the best of intentions, such government interventions lead to conditions that even their advocates consider worse than those they were trying to alleviate in the first place. Although Mises has made these arguments elsewhere, in this volume he does so especially clearly, concisely, and thoroughly.

Rather than argue against specific instances of interventionism, Mises examines the totality of interventionist policy and its long-term effects on the economy. With that as his base, he outlines the inevitable political and social consequences that result from such policy. As he says in his conclusion, "Mankind has a choice only between the unhampered market economy, democracy, and freedom on the one side, and socialism and dictatorship on the other side. A third alternative, an interventionist compromise, is not feasible."

Formerly a resident scholar, trustee, and longtime staff member of the Foundation for Economic Education, Bettina Bien Greaves has written and lectured extensively on topics of free market economics. Her articles have appeared in such journals as Human Events, Reason, and The Freeman: Ideas on Liberty. A student of Mises, Greaves has become an expert on his work in particular and that of the Austrian School of economics in general. She has translated several Mises monographs, compiled an annotated bibliography of his work, and edited collections of papers by Mises and other members of the Austrian School.