by Sennholz
[Introduction and Personal Association with Mises]: Hans Sennholz recounts his immigration to the United States and his decision to study under Ludwig von Mises at New York University after being impressed by Mises's work on monetary theory. He describes the initial challenges of becoming Mises's first Ph.D. student at NYU and his subsequent efforts to honor Mises through a Festschrift and an honorary degree. [The Intellectual Battle Against Socialism and Marxism]: Sennholz discusses Mises's role as a non-conformist defender of capitalism against the prevailing academic trend of socialism. He explores the historical roots of socialist thought in the labor theory of value and Marx's 'iron law of wages,' noting how Mises's critiques eventually foreshadowed the collapse of the Soviet empire. [The Austrian School's Critique of Marx and the Rise of Subjectivism]: This section details Eugen von Böhm-Bawerk’s refutation of Marxian exploitation theory and the development of the subjective theory of value. It explains how the Austrian School's insights were initially ignored by 'progressive' political parties in favor of interventionist welfare policies and authoritarianism following World War I. [Mises's Counteroffensive: Economic Calculation and 'Socialism']: Sennholz describes Mises's 1920 essay on economic calculation as a turning point that proved rational planning is impossible without market prices. He highlights the profound impact Mises's book 'Socialism' had on contemporaries like F.A. Hayek and Wilhelm Röpke, despite the global shift toward interventionism and the New Deal. [Monetary Policy, Liberalism, and the Critique of Interventionism]: Mises's fight against inflation in Austria and his definition of true classical liberalism are examined. Sennholz reviews Mises's 'A Critique of Interventionism,' which argued that government regulation is a slow path to socialism, and critiques the parallel interventionist policies of European regimes and the American New Deal. [Epistemology and the Magnum Opus: Human Action]: The section covers Mises's epistemological works and his comprehensive treatise, 'Human Action' (originally 'Nationalökonomie'). It discusses Mises's rejection of Oskar Lange's 'market socialism' as utopian and highlights Mises's later works on bureaucracy and the total state, which provided the intellectual foundation for future generations of free-market scholars. [Notes]: Bibliographic citations and explanatory notes for the essay, referencing works by Adam Smith, Eugen von Böhm-Bawerk, Margit von Mises, and Oskar Lange.
Hans Sennholz recounts his immigration to the United States and his decision to study under Ludwig von Mises at New York University after being impressed by Mises's work on monetary theory. He describes the initial challenges of becoming Mises's first Ph.D. student at NYU and his subsequent efforts to honor Mises through a Festschrift and an honorary degree.
Read full textSennholz discusses Mises's role as a non-conformist defender of capitalism against the prevailing academic trend of socialism. He explores the historical roots of socialist thought in the labor theory of value and Marx's 'iron law of wages,' noting how Mises's critiques eventually foreshadowed the collapse of the Soviet empire.
Read full textThis section details Eugen von Böhm-Bawerk’s refutation of Marxian exploitation theory and the development of the subjective theory of value. It explains how the Austrian School's insights were initially ignored by 'progressive' political parties in favor of interventionist welfare policies and authoritarianism following World War I.
Read full textSennholz describes Mises's 1920 essay on economic calculation as a turning point that proved rational planning is impossible without market prices. He highlights the profound impact Mises's book 'Socialism' had on contemporaries like F.A. Hayek and Wilhelm Röpke, despite the global shift toward interventionism and the New Deal.
Read full textMises's fight against inflation in Austria and his definition of true classical liberalism are examined. Sennholz reviews Mises's 'A Critique of Interventionism,' which argued that government regulation is a slow path to socialism, and critiques the parallel interventionist policies of European regimes and the American New Deal.
Read full textThe section covers Mises's epistemological works and his comprehensive treatise, 'Human Action' (originally 'Nationalökonomie'). It discusses Mises's rejection of Oskar Lange's 'market socialism' as utopian and highlights Mises's later works on bureaucracy and the total state, which provided the intellectual foundation for future generations of free-market scholars.
Read full textBibliographic citations and explanatory notes for the essay, referencing works by Adam Smith, Eugen von Böhm-Bawerk, Margit von Mises, and Oskar Lange.
Read full text