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Capital, Expectations, and the Market Process

This volume consists of 17 of Ludwig Lachmann’s most important papers published during the period 1940-73. Two of the articles appear here in translation for the first time. Prepared especially for this volume is a new essay about the present “crisis” in economic thought. Walter Grinder’s extended introduction analyzes Lachmann’s scholarly career in four countries and his overall intellectual development.

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A Defence for Fugitive Slaves (1850)

Since, in Spooner’s view, slavery was both unjust and unconstitutional, men and women held in slavery had the right to flee, and other people had the right and the duty to help the runaway slaves escape to freedom. This meant violating the Fugitive Slave Acts and breaking the law, but these acts would be in the freedom-loving spirit of the Constitution.

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Capital and its Structure

A reprint of Lachmann’s 1956 classic of Austrian capital theory in which he draws upon the work of Carl Menger, Frank Knight and Friedrich Hayek. In this book Lachmann shows how firms invest to position capital goods with one another, thus creating the complex capital structure. He shows how capital formation and adjustment is a continuous transformation which is immensely complex in its combinations and heterogeneous flow, and how it is capable of co-ordinating the ever-changing plans of individual participants.

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Can Capitalism Survive?

Benjamin A. Rogge- late Distinguished Professor of Political Economy at Wabash College- was a representative of that most unusual species: economists who speak and write in clear English. He forsakes professional jargon for clarity and logic - and can even be downright funny. The nineteen essays in this volume explore the philosophy of freedom, the nature of economics, the business system, labor markets, money and inflation, the problems of cities, education, and what must be done to ensure the survival of free institutions and capitalism. For a reflection on the enduring relevance of Rogge’s work, see the Liberty Classic Can Capitalism Survive? Ben Rogge on Capitalism’s Future, by Dwight R. Lee.

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Omnipotent Government: The Rise of the Total State and Total War

Published in 1944, during World War II, Omnipotent Government was Mises’s first book written and published after he arrived in the United States. In this volume Mises provides in economic terms an explanation of the international conflicts that caused both world wars. Although written more than half a century ago, Mises’s main theme still stands: government interference in the economy leads to conflicts and wars. According to Mises, the last and best hope for peace is liberalism—the philosophy of liberty, free markets, limited government, and democracy.

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The Principles of Free Trade

A collection of essays written in the early 1830s as part of a campaign in favor of free trade. The second edition of 1840 contains the minutes of a Free Trade Convention held in Philadelphia in 1831 as well as a dedication to Colonel Biddle the editor of Jean-Baptiste Say’s American edition of the Treatise on Political Economy.

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Economic Freedom and Interventionism

Economic Freedom and Interventionism is both a primer of the fundamental thought of Ludwig von Mises and an anthology of the writings of perhaps the best-known exponent of what is now known as the Austrian School of economics. This volume contains forty-seven articles edited by Mises scholar Bettina Bien Greaves. Among them are Mises’s expositions of the role of government, his discussion of inequality of wealth, inflation, socialism, welfare, and economic education, as well as his exploration of the “deeper” significance of economics as it affects seemingly noneconomic relations between human beings. These papers are essential reading for students of economic freedom and the science of human action.

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