by Mises
[Title Page and Publication Information]: Title page and publication details for 'Notes and Recollections' by Ludwig von Mises. Includes information on the foreword by Margit von Mises, translation by Hans F. Sennholz, copyright details from 1978, and Library of Congress cataloging data identifying the work as a biography of the Austrian economist. [Table of Contents]: The table of contents listing the major chapters and sub-sections of the book. Key topics include Historicism, Etatism, the development of the Austrian School, Mises's work on monetary theory, his experiences during World War I, and his professional activities with the Chamber of Commerce regarding inflation and political takeovers. [Table of Contents and Foreword by Margit von Mises]: This segment contains the remaining table of contents and a foreword by Margit von Mises. She describes the somber circumstances under which Ludwig von Mises wrote these notes in 1940 after arriving in the United States as a refugee from war-torn Europe. She clarifies that the work is an intellectual history rather than a traditional autobiography, highlighting Mises's candid and devastating observations on the decline of Western civilization and his warnings against inflation and interventionism. [Chapter I: Historicism]: Mises critiques the 'Historicism' prevalent in German-speaking universities around 1900. He argues that the German Historical School, led by figures like Schmoller, abandoned scientific theory for a relativistic, politically motivated justification of Prussian authoritarianism. Mises distinguishes between the legitimate study of history and the 'pseudo-historicism' that rejected economic laws. He emphasizes that the function of science is to examine the suitability of means for attaining ends, not to make value judgments, and notes the intellectual limitations of professors who served as state civil servants. [Chapter II: Etatism]: Mises defines 'Etatism' as the subordination of the individual to the state through socialism or interventionism. He recounts his early intellectual transition from a 'thorough statist' to a critic of government interference. A significant portion is dedicated to his interactions with Otto Bauer and his role in preventing a Bolshevist takeover in Vienna after WWI by highlighting the city's dependence on foreign food relief. He also discusses his work in housing reform, where he realized that interventionist taxes and regulations were the primary cause of poor housing conditions, rather than capitalism itself. [Chapter III: The Austrian Problem]: Mises analyzes the structural collapse of the Austro-Hungarian Empire. He argues that the state lacked a viable ideological foundation to counter the 'nationality principle' (linguistic nationalism). He describes the failure of the 1867 Constitution and the political sabotage of the Körber administration, the last government sincerely concerned with state preservation. Mises notes that interventionist measures exacerbated ethnic tensions, as every regulation favored one national group over another, a problem he studied through the lens of trade policy in the Chamber of Commerce. [Chapter IV: The Austrian School of Economics]: Mises traces the development of the Austrian School, starting with his discovery of Carl Menger's 'Principles of Economics'. He characterizes the school by its focus on human action rather than static equilibrium. He provides personal portraits of Menger, whose pessimism regarding the fate of European civilization silenced him, and Böhm-Bawerk, whom Mises describes as a brilliant seminar leader. Mises distinguishes the 'true' Austrian School from the Lausanne School and critiques Schumpeter and Wieser for failing to fully grasp subjectivism. He also notes the exclusion of Austrian theorists from German university chairs by the Historical School. [Chapter V: First Writings on The Theory of Money]: Mises details his early research into monetary policy and his defense of the gold standard. He recounts a conflict with the Austro-Hungarian Central Bank over his advocacy for the legal resumption of gold payments. He reveals, based on a disclosure from Böhm-Bawerk, that the Bank's opposition was rooted in a secret 'reptile fund' used to bribe journalists and politicians. This experience shaped Mises's professional ethics: he decided to focus on refuting erroneous doctrines rather than exposing personal corruption, treating opponents as if they were guided by objective considerations. [Chapter VI: The Theory of Money and Credit]: Mises discusses the creation of his seminal work, 'The Theory of Money and Credit' (1912). He aimed to integrate the theory of money into the general framework of catallactics, rejecting the 'neutrality of money' assumed by Menger and Böhm-Bawerk. He explains his 'step-by-step' analysis (period analysis) and his refutation of mathematical economics and the quantity theory's proportional mechanicalism. He also introduces the distinction between 'commodity credit' and 'fiduciary credit,' which formed the basis for the Austrian Trade Cycle Theory. The segment concludes with a critique of J.M. Keynes's initial dismissive review of the book. [Chapter VII: First World War]: Mises reflects on the ideological causes of WWI and the role of German professors as the 'intellectual bodyguard of the Hohenzollern.' He argues that the fundamental problem of civilization is that public opinion, which determines policy, is often economically illiterate. He expresses a profound pessimism, shared by Max Weber and Carl Menger, regarding the ability of reason to prevail over demagoguery and mass movements. Despite this, he adopts the motto 'Tu ne cede malis' (Do not yield to the bad) and resolves to continue his work by writing a definitive book on socialism. [Chapter VIII: With the Chamber of Commerce]: Mises describes his career at the Vienna Chamber of Commerce (1909–1938), where he acted as the 'economic conscience' of Austria. He details four major political struggles: preventing Bolshevism, halting post-war inflation, managing the banking crisis, and opposing the German takeover. He provides a critical view of the 'corporate state' and the 'incapability for survival' myth used to justify the Anschluss. He highlights the corruption of the interventionist system and the terror apparatus of the Social-Democratic Party. He concludes that his efforts only delayed the inevitable catastrophe of Nazi annexation. [Chapter IX: My Teaching Activities in Vienna]: Mises recounts his academic life as a Privatdozent at the University of Vienna. He describes the intellectual decline of the university and the hostility of professors like Spann and Mayer toward his 'Austrian' teachings. The centerpiece of this segment is the 'Privatseminar,' an informal bi-weekly gathering of brilliant young scholars (including Hayek, Haberler, and Machlup) in Mises's Chamber office. This circle became the last bastion of the younger Austrian School. Mises also mentions the 'Economic Society' and its eventual dissolution following the Nazi purge of 'non-Aryan' members in 1938. [Chapter X: Scientific Work in Germany]: Mises reflects on his involvement with the 'Verein für Socialpolitik' and the German Association for Sociology. He delivers a scathing critique of German academia, characterizing professors as 'characterless simpletons' who shifted their allegiances from the Kaiser to Marxists and finally to Hitler. He singles out Werner Sombart as a self-promoting dilettante who lacked interest in genuine economics. Mises expresses admiration for Max Weber but concludes that even Weber could not have saved the German nation from its intellectual and moral decay. [Chapter XI: Further Inquiries Into Indirect Exchange]: Mises discusses the refinement of his monetary and trade cycle theories. He emphasizes that the core of his critique of socialism is the impossibility of economic calculation without market prices. He traces the development of this idea from his 1919 essay to its full integration in his 'Nationalökonomie'. He argues that theoretical insight cannot be won from statistics (which belong to history) and that his work merged the theories of direct and indirect exchange into a coherent system of human action, fulfilling a project he began thirty-five years prior. [Chapter XII: Systems of Social Cooperation]: In this segment, Mises reviews his major works on social systems: 'Socialism', 'Liberalism', and 'Critique of Interventionism'. He argues that his analysis is scientific because it evaluates whether chosen means can actually achieve avowed ends. He refutes the 'heart argument' (emotional preference for socialism) by demonstrating that if a system leads to economic chaos, emotional appeals cannot make it viable. He concludes with the somber realization that while he intended to be a reformer, he became a 'historian of decline' as the masses remained committed to anti-capitalist ideologies. [Chapter XIII: Epistemological Studies]: Mises explores the philosophical foundations of the sciences of human action. He critiques Positivism for attempting to apply the methods of physics to social phenomena and argues for the 'a priori' nature of praxeological knowledge. He distinguishes between 'understanding' (the method of history) and 'comprehending' (the method of praxeology). Mises asserts that the categories of human action, such as means and ends, are necessary mental structures rather than arbitrary conventions. He concludes that the 'exact' sciences have much to learn from the logic of human action, and that a 'united' science is currently impossible due to the distinct nature of thought. [The Reality of the External World and the Distinction Between Causality and Teleology]: Mises argues for the real existence of the external world based on the resistance it offers to human desires, defining it by the feasibility of action. He distinguishes between the natural sciences, which focus on causality and regularity, and the sciences of human action, which are teleological and focused on ends sought by individuals. He rejects the 'philosophy of history' and Marxian schemes as non-scientific attempts to find hidden superhuman designs in historical events, asserting that historians should focus on the intentions and outcomes of acting individuals. [The Category of Action and the Challenge of Scientism]: Mises identifies the category of action as the fundamental starting point for epistemological analysis, noting that it encompasses concepts such as means, ends, valuation, and profit. He explains that teleology presupposes causality, as action requires ideas about cause and effect. The segment concludes by referencing Mises' work 'Theory and History' and its critique of scientism. [Positivism and Behaviorism]: Mises distinguishes between the natural sciences, which rely on causality, and the sciences of human action, which are teleological. He critiques positivism and behaviorism for attempting to apply the methods of physics to human conduct, arguing that such efforts are often driven by an ideological desire to discredit economics and promote totalitarianism. He specifically addresses the failures of early sociology and the neopositivist assault led by figures like Otto Neurath. [XIV: My Teaching In Geneva]: Mises recounts his transition from the Vienna Chamber of Commerce to a teaching position in Geneva at the Institut Universitaire des Hautes Etudes Internationales in 1934. He describes the political pressures in Austria that made the Chamber's existence precarious and his eventual liberation in Geneva, where he could focus on scientific work. He also provides a critical assessment of the League of Nations, attributing its failure to a lack of ideological foundation in an era of rising nationalism. [XV: The Struggle for Austria's Survival]: Mises analyzes the political failures that led to the annexation of Austria by Nazi Germany. He criticizes the Austrian Social-Democrats for their stubbornness regarding unification with Germany and their opposition to Italian support, which he views as the only viable defense at the time. He also condemns the 'absurdity' of British and French foreign policies and the lack of foresight among European leaders regarding Hitler's ambitions. [Postscript by Hans F. Sennholz: Mises in America]: Hans Sennholz provides an extensive postscript detailing Mises' life and influence after moving to the United States in 1940. He contrasts the 'statist' environment of the New Deal and Keynesian economics with Mises' uncompromising defense of the market order. Sennholz reviews Mises' major American publications, including 'Human Action', 'Bureaucracy', and 'Omnipotent Government', and discusses his role in fostering a new generation of scholars through his NYU seminar and the Foundation for Economic Education. [Index]: A comprehensive alphabetical index of names, organizations, and concepts mentioned throughout Mises' 'Notes and Recollections'. [Reviews and Supplemental Material]: This section includes promotional material and reviews for Margit von Mises' memoir 'My Years with Ludwig von Mises', featuring commentary from Murray Rothbard and John Chamberlain. It also contains an excerpt from Eugen von Böhm-Bawerk on the 'renaissance of economic theory' and a catalog of related works published by Libertarian Press. [Planning for Freedom: Table of Contents and Essay List]: A detailed list of essays and addresses included in the Memorial Edition of Mises's 'Planning for Freedom'. The list covers thirteen distinct topics including critiques of Keynesian economics, the failure of middle-of-the-road policies, the nature of profit and loss, and the political prospects of genuine liberalism.
Title page and publication details for 'Notes and Recollections' by Ludwig von Mises. Includes information on the foreword by Margit von Mises, translation by Hans F. Sennholz, copyright details from 1978, and Library of Congress cataloging data identifying the work as a biography of the Austrian economist.
Read full textThe table of contents listing the major chapters and sub-sections of the book. Key topics include Historicism, Etatism, the development of the Austrian School, Mises's work on monetary theory, his experiences during World War I, and his professional activities with the Chamber of Commerce regarding inflation and political takeovers.
Read full textThis segment contains the remaining table of contents and a foreword by Margit von Mises. She describes the somber circumstances under which Ludwig von Mises wrote these notes in 1940 after arriving in the United States as a refugee from war-torn Europe. She clarifies that the work is an intellectual history rather than a traditional autobiography, highlighting Mises's candid and devastating observations on the decline of Western civilization and his warnings against inflation and interventionism.
Read full textMises critiques the 'Historicism' prevalent in German-speaking universities around 1900. He argues that the German Historical School, led by figures like Schmoller, abandoned scientific theory for a relativistic, politically motivated justification of Prussian authoritarianism. Mises distinguishes between the legitimate study of history and the 'pseudo-historicism' that rejected economic laws. He emphasizes that the function of science is to examine the suitability of means for attaining ends, not to make value judgments, and notes the intellectual limitations of professors who served as state civil servants.
Read full textMises defines 'Etatism' as the subordination of the individual to the state through socialism or interventionism. He recounts his early intellectual transition from a 'thorough statist' to a critic of government interference. A significant portion is dedicated to his interactions with Otto Bauer and his role in preventing a Bolshevist takeover in Vienna after WWI by highlighting the city's dependence on foreign food relief. He also discusses his work in housing reform, where he realized that interventionist taxes and regulations were the primary cause of poor housing conditions, rather than capitalism itself.
Read full textMises analyzes the structural collapse of the Austro-Hungarian Empire. He argues that the state lacked a viable ideological foundation to counter the 'nationality principle' (linguistic nationalism). He describes the failure of the 1867 Constitution and the political sabotage of the Körber administration, the last government sincerely concerned with state preservation. Mises notes that interventionist measures exacerbated ethnic tensions, as every regulation favored one national group over another, a problem he studied through the lens of trade policy in the Chamber of Commerce.
Read full textMises traces the development of the Austrian School, starting with his discovery of Carl Menger's 'Principles of Economics'. He characterizes the school by its focus on human action rather than static equilibrium. He provides personal portraits of Menger, whose pessimism regarding the fate of European civilization silenced him, and Böhm-Bawerk, whom Mises describes as a brilliant seminar leader. Mises distinguishes the 'true' Austrian School from the Lausanne School and critiques Schumpeter and Wieser for failing to fully grasp subjectivism. He also notes the exclusion of Austrian theorists from German university chairs by the Historical School.
Read full textMises details his early research into monetary policy and his defense of the gold standard. He recounts a conflict with the Austro-Hungarian Central Bank over his advocacy for the legal resumption of gold payments. He reveals, based on a disclosure from Böhm-Bawerk, that the Bank's opposition was rooted in a secret 'reptile fund' used to bribe journalists and politicians. This experience shaped Mises's professional ethics: he decided to focus on refuting erroneous doctrines rather than exposing personal corruption, treating opponents as if they were guided by objective considerations.
Read full textMises discusses the creation of his seminal work, 'The Theory of Money and Credit' (1912). He aimed to integrate the theory of money into the general framework of catallactics, rejecting the 'neutrality of money' assumed by Menger and Böhm-Bawerk. He explains his 'step-by-step' analysis (period analysis) and his refutation of mathematical economics and the quantity theory's proportional mechanicalism. He also introduces the distinction between 'commodity credit' and 'fiduciary credit,' which formed the basis for the Austrian Trade Cycle Theory. The segment concludes with a critique of J.M. Keynes's initial dismissive review of the book.
Read full textMises reflects on the ideological causes of WWI and the role of German professors as the 'intellectual bodyguard of the Hohenzollern.' He argues that the fundamental problem of civilization is that public opinion, which determines policy, is often economically illiterate. He expresses a profound pessimism, shared by Max Weber and Carl Menger, regarding the ability of reason to prevail over demagoguery and mass movements. Despite this, he adopts the motto 'Tu ne cede malis' (Do not yield to the bad) and resolves to continue his work by writing a definitive book on socialism.
Read full textMises describes his career at the Vienna Chamber of Commerce (1909–1938), where he acted as the 'economic conscience' of Austria. He details four major political struggles: preventing Bolshevism, halting post-war inflation, managing the banking crisis, and opposing the German takeover. He provides a critical view of the 'corporate state' and the 'incapability for survival' myth used to justify the Anschluss. He highlights the corruption of the interventionist system and the terror apparatus of the Social-Democratic Party. He concludes that his efforts only delayed the inevitable catastrophe of Nazi annexation.
Read full textMises recounts his academic life as a Privatdozent at the University of Vienna. He describes the intellectual decline of the university and the hostility of professors like Spann and Mayer toward his 'Austrian' teachings. The centerpiece of this segment is the 'Privatseminar,' an informal bi-weekly gathering of brilliant young scholars (including Hayek, Haberler, and Machlup) in Mises's Chamber office. This circle became the last bastion of the younger Austrian School. Mises also mentions the 'Economic Society' and its eventual dissolution following the Nazi purge of 'non-Aryan' members in 1938.
Read full textMises reflects on his involvement with the 'Verein für Socialpolitik' and the German Association for Sociology. He delivers a scathing critique of German academia, characterizing professors as 'characterless simpletons' who shifted their allegiances from the Kaiser to Marxists and finally to Hitler. He singles out Werner Sombart as a self-promoting dilettante who lacked interest in genuine economics. Mises expresses admiration for Max Weber but concludes that even Weber could not have saved the German nation from its intellectual and moral decay.
Read full textMises discusses the refinement of his monetary and trade cycle theories. He emphasizes that the core of his critique of socialism is the impossibility of economic calculation without market prices. He traces the development of this idea from his 1919 essay to its full integration in his 'Nationalökonomie'. He argues that theoretical insight cannot be won from statistics (which belong to history) and that his work merged the theories of direct and indirect exchange into a coherent system of human action, fulfilling a project he began thirty-five years prior.
Read full textIn this segment, Mises reviews his major works on social systems: 'Socialism', 'Liberalism', and 'Critique of Interventionism'. He argues that his analysis is scientific because it evaluates whether chosen means can actually achieve avowed ends. He refutes the 'heart argument' (emotional preference for socialism) by demonstrating that if a system leads to economic chaos, emotional appeals cannot make it viable. He concludes with the somber realization that while he intended to be a reformer, he became a 'historian of decline' as the masses remained committed to anti-capitalist ideologies.
Read full textMises explores the philosophical foundations of the sciences of human action. He critiques Positivism for attempting to apply the methods of physics to social phenomena and argues for the 'a priori' nature of praxeological knowledge. He distinguishes between 'understanding' (the method of history) and 'comprehending' (the method of praxeology). Mises asserts that the categories of human action, such as means and ends, are necessary mental structures rather than arbitrary conventions. He concludes that the 'exact' sciences have much to learn from the logic of human action, and that a 'united' science is currently impossible due to the distinct nature of thought.
Read full textMises argues for the real existence of the external world based on the resistance it offers to human desires, defining it by the feasibility of action. He distinguishes between the natural sciences, which focus on causality and regularity, and the sciences of human action, which are teleological and focused on ends sought by individuals. He rejects the 'philosophy of history' and Marxian schemes as non-scientific attempts to find hidden superhuman designs in historical events, asserting that historians should focus on the intentions and outcomes of acting individuals.
Read full textMises identifies the category of action as the fundamental starting point for epistemological analysis, noting that it encompasses concepts such as means, ends, valuation, and profit. He explains that teleology presupposes causality, as action requires ideas about cause and effect. The segment concludes by referencing Mises' work 'Theory and History' and its critique of scientism.
Read full textMises distinguishes between the natural sciences, which rely on causality, and the sciences of human action, which are teleological. He critiques positivism and behaviorism for attempting to apply the methods of physics to human conduct, arguing that such efforts are often driven by an ideological desire to discredit economics and promote totalitarianism. He specifically addresses the failures of early sociology and the neopositivist assault led by figures like Otto Neurath.
Read full textMises recounts his transition from the Vienna Chamber of Commerce to a teaching position in Geneva at the Institut Universitaire des Hautes Etudes Internationales in 1934. He describes the political pressures in Austria that made the Chamber's existence precarious and his eventual liberation in Geneva, where he could focus on scientific work. He also provides a critical assessment of the League of Nations, attributing its failure to a lack of ideological foundation in an era of rising nationalism.
Read full textMises analyzes the political failures that led to the annexation of Austria by Nazi Germany. He criticizes the Austrian Social-Democrats for their stubbornness regarding unification with Germany and their opposition to Italian support, which he views as the only viable defense at the time. He also condemns the 'absurdity' of British and French foreign policies and the lack of foresight among European leaders regarding Hitler's ambitions.
Read full textHans Sennholz provides an extensive postscript detailing Mises' life and influence after moving to the United States in 1940. He contrasts the 'statist' environment of the New Deal and Keynesian economics with Mises' uncompromising defense of the market order. Sennholz reviews Mises' major American publications, including 'Human Action', 'Bureaucracy', and 'Omnipotent Government', and discusses his role in fostering a new generation of scholars through his NYU seminar and the Foundation for Economic Education.
Read full textA comprehensive alphabetical index of names, organizations, and concepts mentioned throughout Mises' 'Notes and Recollections'.
Read full textThis section includes promotional material and reviews for Margit von Mises' memoir 'My Years with Ludwig von Mises', featuring commentary from Murray Rothbard and John Chamberlain. It also contains an excerpt from Eugen von Böhm-Bawerk on the 'renaissance of economic theory' and a catalog of related works published by Libertarian Press.
Read full textA detailed list of essays and addresses included in the Memorial Edition of Mises's 'Planning for Freedom'. The list covers thirteen distinct topics including critiques of Keynesian economics, the failure of middle-of-the-road policies, the nature of profit and loss, and the political prospects of genuine liberalism.
Read full text