Download The Austrian Case for the Free Market Process: Ludwig von Mises and Friedrich Hayek AudioBook Free
Ludwig von Mises (1881-1973) and Friedrich Hayek (1899-1992) were possibly the foremost defenders of the free market and limited government during the mid-twentieth century ascendancy of Keynesian economics. Mises highlighted the situation of economical calculation in non-market economics. He saw the purchase price system as the foundation of economical calculation, and emphasized the value of sound money for it to work properly. Mises created an all-encompassing theory of economics as a system of human action. Hayek emphasized the role of knowledge in economics, asserting that man “cannot acquire the full knowledge that would make mastery of events possible.” He insisted that capitalism has improved the living conditions of workers. Hayek received the Nobel Prize in 1974.
