Synopses & Reviews
The term "liberalism" comes from the Latin word
liber meaning "free." Mises defines
liberalism as "the liberal doctrine of the harmony of the rightly understood interests of all members of a free society founded on the principle of private ownership of the means of production." This book presents the theoretical and practical arguments for liberalism in the classical tradition.
The foundation of liberalism, Mises says, rests on an understanding and appreciation of private property, social cooperation, the freedom idea, ethics and morality, democracy, and the legitimate role of government. Liberalism is not a political party; it is a system of social organization. The liberal program aims at securing equality under law and freedom of opportunity for everyone to make their own choices and decisions, so long as they do not interfere with the equal rights of others; it offers no special privileges to anyone. Under liberalism, the role of government would be limited to protecting the lives, property, and freedom of its citizens to pursue their own ends and goals. Mises is more specific here than elsewhere in applying the liberal program to economic policy, domestic and foreign. Also in this book, Mises contrasts liberalism with other conceivable systems of social organization such as socialism, communism, and fascism.
Ludwig von Mises (18811973) was the leading spokesman of the Austrian School of Economics throughout most of the twentieth century. He earned his doctorate in law and economics from the University of Vienna in 1906. In 1926, Mises founded the Austrian Institute for Business Cycle Research. From 1909 to 1934, he was an economist for the Vienna Chamber of Commerce. Before the Anschluss, in 1934 Mises left for Geneva, where he was a professor at the Graduate Institute of International Studies until 1940, when he emigrated to New York City. From 1948 to 1969, he was a visiting professor at New York University.
Bettina Bien Greaves is a former resident scholar, trustee, and longtime staff member of the Foundation for Economic Education. She 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.
Synopsis
This book presents the theoretical and practical arguments for liberalism in the classical tradition as defined by Mises as "the liberal doctrine of the harmony of the rightly understood interests of all members of a free society founded on the principle of private ownership of the means of production." The foundation of liberalism, Mises says, rests on an understanding and appreciation of private property, social cooperation, the freedom idea, ethics and morality, democracy, and the legitimate role of government. Also in this book, Mises contrasts liberalism with other conceivable systems of social organization such as socialism, communism, and fascism.
Ludwig von Mises (1881-1973) was the leading spokesman of the Austrian School of economics throughout most of the twentieth century.
Bettina Bien Greaves is a former resident scholar and trustee of the Foundation for Economic Education and was a senior staff member at FEE from 1951 to 1999.
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Table of Contents
Preface, 1985 ix
Preface to the English-Language Edition xiii
Introduction xvii
1 Liberalism xvii
2 Material Welfare xix
3 Rationalism xx
4 The Aim of Liberalism xxii
5 Liberalism and Capitalism xxv
6 The Psychological Roots of Antiliberalism xxvii
CHAPTER 1 The Foundations of Liberal Policy 1
1 Property 1
2 Freedom 3
3 Peace 5
4 Equality 9
5 The Inequality of Wealth and Income 12
6 Private Property and Ethics 14
7 State and Government 15
8 Democracy 19
9 Critique of the Doctrine of Force 22
10 The Argument of Fascism 25
11 The Limits of Governmental Activity 30
12 Tolerance 33
13 The State and Antisocial Conduct 34
CHAPTER 2 Liberal Economic Policy 37
1 The Organization of the Economy 37
2 Private Property and Its Critics 40
3 Private Property and the Government 43
4 The Impracticability of Socialism 46
5 Interventionism 50
6 Capitalism: The Only Possible System of Social
Organization 59
7 Cartels, Monopolies, and Liberalism 63
8 Bureaucratization 67
CHAPTER 3 Liberal Foreign Policy 76
1 The Boundaries of the State 76
2 The Right of Self-Determination 78
3 The Political Foundations of Peace 81
4 Nationalism 87
5 Imperialism 90
6 Colonial Policy 93
7 Free Trade 98
8 Freedom of Movement 103
9 The United States of Europe 108
10 The League of Nations 112
11 Russia 115
CHAPTER 4 Liberalism and the Political Parties 119
1 The “Doctrinairism” of the Liberals 119
2 Political Parties 121
3 The Crisis of Parliamentarism and the Idea of a Diet
Representing Special Groups 132
4 Liberalism and the Parties of Special Interests 136
5 Party Propaganda and Party Organization 140
6 Liberalism as the “Party of Capital” 143
CHAPTER 5 The Future of Liberalism 147
APPENDIX 153
1 On the Literature of Liberalism 153
2 On the Term “Liberalism” 157
Index 161