The Science of Human Action

Dados Bibliográficos

ID9722121
AutoresLudwig M Lachmann (autor correspondente)
Ano1951
Volume18
Fascículo72
Páginas412
Data de publicação1951-11-01
Peer ReviewedSim
Open AccessNão
TipoARTICLE
PeriódicoEconomica (JOURNAL)
Identificadores do periódicoISSN: 0013-0427 • E-ISSN: 1468-0335
EditoraJSTOR (PUBLISHER)
DOI10.2307/2549611
OpenAlexW2329667379
IdiomaEN
Citações recebidas12

This is Professor Mises' magnum opus.' It is a magnum opus in every sense of the word. Its majestic sweep embraces almost the whole field of economics and touches, at some point or other, on almost every social issue of our time. Not merely the formal-logical apparatus of economic theory, but the social structure of modern industrial society, its achievements, its weaknesses, and, most of all, its ideologies come under the relentless scrutiny of one who again and again confounds the smallminded within the precincts of our science and outside it. Perhaps his most outstanding merit is an intellectual courage which in these days of the cult of the politically possible has become all too rare. Throughout the 88i pages of the text the argument is presented with a pungency of style which rivals the clarity and vigour of his thought. To render justice to a work of this nature on the few pages at our disposal is clearly impossible. All we -can hope to do is to select a few topics for discussion. When ten years ago Professor Knight reviewed the original German version2 of the book in this journal3 and found himself faced with the same dilemma, he selected one topic only for discussion, viz., the theory of capital. Quite possibly this is the best way of going about it. Undoubtedly the theory of capital occupies a prominent place in Professor Mises' doctrinal edifice. His theory of the trade cycle as well as his proof of the inadequacy of some recent models for a socialist market economy depend largely on his view of capital. Yet we shall not follow the method Professor Knight adopted ten years ago. Unable though we are to take the reader on an extensive tour of the palace and to show him every part of the building, it seems to us wrong to confine our inspection to the basement. The wide vistas to be

Action (physics) · Business · Physics · Economic Theory and Institutions · Economic Theory and Policy · Political Economy and Marxism