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Human Action

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Human Action

Contents

Foreword to the 4th edition by Bettina B. Greaves

Foreword to the 3rd edition by Ludwig von Mises

Introduction

PART ONE: HUMAN ACTION

Chapter I. Acting Man

Chapter II. The Epistemological Problems of the Sciences of Human Action

Chapter III. Economics and the Revolt Against Reason

Chapter IV. A First Analysis of the Category of Action

Chapter V. Time

Chapter VI. Uncertainty

Chapter VII. Action Within the World

PART TWO: ACTION WITHIN THE FRAMEWORK OF SOCIETY

Chapter VIII. Human Society

Chapter IX. The Role of Ideas

Chapter X. Exchange Within Society

PART THREE: ECONOMIC CALCULATION

Chapter XI. Valuation Without Calculation

Chapter XII. The Sphere of Economic Calculation

Chapter XIII. Monetary Calculation as a Tool of Action

PART FOUR: CATALLACTICS OR ECONOMICS OF THE MARKET SOCIETY

Chapter XIV. The Scope and Method of Catallactics

Chapter XV. The Market

Chapter XVI. Prices

Chapter XVII. Indirect Exchange

Chapter XVIII. Action in the Passing of Time

Chapter XIX. Interest

Chapter XX. Interest, Credit Expansion, and the Trade Cycle

Chapter XXI. Work and Wages

Chapter XXII. The Nonhuman Original Factors of Production

Chapter XXIII. The Data of the Market

Chapter XXIV. Harmony and Conflict of Interests

PART FIVE: SOCIAL COOPERATION WITHOUT A MARKET

Chapter XXV. The Imaginary Construction of a Socialist Society

Chapter XXVI. The Impossibility of Economic Calculation Under Socialism

PART SIX: THE HAMPERED MARKET ECONOMY

Chapter XXVII. The Government and the Market

Chapter XXVIII. Interference by Taxation

Chapter XXIX. Restriction of Production

Chapter XXX. Interference with the Structure of Prices

Chapter XXXI. Currency and Credit Manipulation

Chapter XXXII. Confiscation and Redistribution

Chapter XXXIII. Syndicalism and Corporativism

Chapter XXXIV. The Economics of War

Chapter XXXV. The Welfare Principle Versus the Market Principle

Chapter XXXVI. The Crisis of Interventionism

Chapter XXXVII. The Nondescript Character of Economics

PART SEVEN: THE PLACE OF ECONOMICS IN SOCIETY

Chapter XXXVIII. The Place of Economics in Learning

Chapter XXXIX. Economics and the Essential Problems of Human Existence

Foreword to the 3rd Edition by Ludwig von Mises

IT GIVES me great satisfaction to see this book, handsomely printed by a distinguished publishing house, appear in its third revised edition.

Two terminological remarks may be in order. First, I employ the term "liberal" in the sense attached to it every-where in the nineteenth century and still today in the countries of continental Europe. This usage is imperative because there is simply no other term available to signify the great political and intellectual movement that substituted free enterprise and the market economy for the precapitalistic methods of production; constitutional representative government for the absolutism of kings or oligarchies; and freedom of all individuals for slavery, serfdom, and other forms of bondage.

Secondly, in the last decades the meaning of the term "psychology" has been more and more restricted to the field of experimental psychology, a discipline that resorts to the research methods of the natural sciences. On the other hand, it has become usual to dismiss those studies that previously had been called psychological as "literary psychology" and as an unscientific way of reasoning. Whenever reference is made to "psychology" in economic studies, one has in mind precisely this literary psychology, and therefore it seems advisable to introduce a special term for it. I suggested in my book Theory and History (New Haven, 1957, pp. 264-274) the term "thymology," and I used this term also in my recently published essay The Ultimate Foundation of Economic Science (Princeton, 1962). However, my suggestion was not meant to be retroactive and to alter the use of the term "psychology" in books previously published, and so I continue in this new edition to use the term "psychology" in the same way I used it in the first edition.

Two translations of the first edition of Human Action have come out: an Italian translation by Mr. Tuilio Bagiotti, Professor at the Universita Bocconi in Milano, under the title L'Azione Umana, Trattato di economia, published by the Unione Tipografico-Editrice Torinese in 1959; and a Spanish-language translation by Mr. Joaquin Reig Albiol under the title La Accion Humana (Tratado de Econo mia), published in two volumes by Fundacion Ignacio Villalonga in Valencia (Spain) in 1960.

I feel indebted to many good friends for help and advice in the preparation of this book.

First of all I want to remember two deceased scholars, Paul Mantoux and William E. Rappard, who by giving me the opportunity of teaching at the famous Graduate Institute of International Studies in Geneva, Switzerland, provided me with the time and the incentive to start work upon a long-projected plan.

I want to express my thanks for very valuable and helpful suggestions to Mr. Arthur Goddard, Mr. Percy Greaves, Doctor Henry Hazlitt, Professor Israel M. Kirzner, Mr. Leonard E. Read, Mr. Joaquin Reig Albiot and Doctor George Reisman.

But most of all I want to thank my wife for her steady encouragement and help.

Ludwig von Mises
New York March, 1966


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