The Collected Works of Ludwig von Mises

MisesLibrary.jpgIt always struck me as strange that such a great and important thinker as Ludwig von Mises, whose last posthumous work was published in 2012, did not have a dedicated and comprehensive anthology. Since I personally have a significant interest in “what Mises said” on this or that topic, it also frustrated me that there was no simple online resource available where I could do this—despite so much of Mises’s works being available online.

Thus, I’ve used my time during the COVID-19 lockdown to create this compendium: over 8600 pages, 36 separate volumes, 200 megabytes.

Find it under the Free eBooks section of this website, or simply click here. This version was last updated May 12th, 2020. 

The list of titles of the collected works include:

Title

CTRL+F

Pages of the PDF

A Critique of Interventionism

KZ01

4-143

Bureaucracy                                                                                

KZ02

144-272

Economic Freedom and Intervention                                                     

KZ03

273-585

Economic Policy: Thoughts for Today and Tomorrow                                  

KZ04

586-682

Human Action (Scholar’s Edition)

KZ05

683-1635

Interventionism: An Economic Analysis                                               

KZ06

1636-1764

Liberalism                                                                                  

KZ07

1765-1973

Liberty and Property                                                                    

KZ08

1974-2028

Marxism Unmasked                                                                       

KZ09

2029-2154

Memoirs                                                                                     

KZ10

2155-2303

Money, Method, and the Market Process                                            

KZ11

2304-2658

Nation, State, and Economy                                                             

KZ12

2659-2883

Notes and Recollections, with the Historical Setting of the Austrian School         

KZ13

2884-3068

Omnipotent Government                                                                 

KZ14

3069-3421

Planned Chaos                                                                            

KZ15

3422-3465

Planning for Freedom (and other essays)

KZ16

3466-3658

Profit and Loss                                                                             

KZ17

3659-3718

Selected Works Vol I                                                                     

KZ18

3719-4151

Selected Works Vol II                                                                    

KZ19

4152-4608

Selected Works Vol III                                                                   

KZ20

4609-4929

Socialism: An Economic Analysis                                                           

KZ21

4930-5524

The Anti-Capitalistic Mentality                                                          

KZ22

5525-5613

The Clash of Group Interest and Other Essays                                       

KZ23

5614-5650

The Free Market and Its Enemies                                                       

KZ24

5651-5769

The Theory of Money and Credit                                                       

KZ25

5770-6306

The Ultimate Foundation of Economic Science                                         

KZ26

6307-6451

On the Manipulation of Money and Credit                                                                       

KZ27

6452-6676

The “Austrian” Theory of the Trade Cycle                                                                          

KZ28

6677-6689

Economic Calculation in the Socialist Commonwealth                                                     

KZ29

6690-6780

Money and Inflation                                                                                

KZ30

6781-6874

Epistemological Problems of Economics

KZ31

6875-7123

Entries for the Encyclopedia Britannica

KZ32

7124-7134

Theory and History

KZ33

7135-7529

Human Action (Liberty Fund Edition, volumes 1-3)

KZ34

7530-8442

A Critique of Bohm-Bawerk’s Reasoning

KZ35

8443-8451

Glossary (“Mises Made Easier”)

KZ36

8452-8602

Will Iceland’s Sovereign Money Proposal End Economic Crises?

Frosti Sigurjonsson

A recent proposal out of Iceland has been making the waves around economics blogosphere. In it, Frosti Sigurjonsson critiques the current fractional-reserve banking system and proposes instead a system he calls “Sovereign Money”. But what is “sovereign money”, how is it different from the current system, and how will it work? In this post I’ll first explain how the current system works and the problems it has from an Austrian perspective, then go through the sovereign money proposal to see how it solves any of the short-comings of the current system.

How is money created in the current system?

Before we can analyze the sovereign money proposal, we need to understand how the current system operates. This can be demonstrated in a 4 step process. But first understand that a central bank (like the Bank of Canada or the Federal Reserve) is a lot like any other bank: it offers deposit accounts and loans to clients. The difference is that you can only become a customer of the central bank by invitation only.

Here’s a step-by-step process:  Continue reading “Will Iceland’s Sovereign Money Proposal End Economic Crises?”

Cultonomics and the Austrian School

Originally posted on mises.ca July 31, 2014

Mainstream economists have long derided the Austrian School as a “cult”. Professor Walter Block recounts stories from Nobelists Gary Becker and James Buchanan off-handedly referring to the cultish Austrians. When pressed by Professor Block, Becker said, “By a cult I mean a small number of dedicated followers who speak mainly to each other, and interact little with let us call them mainstream economists.”

Nobelist Paul Krugman just last week gloated over Noah Smith’s attacks on the “hermetic system that is Austrians”. And onMonday, Krugman once again lambasted the Austrians as “as the floating crap game — the same 30 or 40 people meeting in conferences all over the world, reading and citing each others’ work”.

Oh wait. He was actually talking about mainstream economists. Here’s the full quote: Continue reading “Cultonomics and the Austrian School”

Mathematical Economics vs. “Literary” Economics?

Originally posted on mises.ca July 28, 2014

Famed Chicago economist John Cochrane gives a report from a recent meeting at the National Bureau of Economic Research (NBER, the US government institution which is tasked with determining whether or not the economy is in a recession, and where Ludwig von Mises was first employed upon moving to the United States). He reports that a recurring theme throughout the discussions was about “just how we do economics”. Certainly a topical conversation. Unfortunately, just how Professor Cochrane frames the discussion proves that gross methodological misunderstandings are still pervasive in the profession.

Firstly, Cochrane frames the methodological debate as “math vs. literature”. While the current orthodoxy in economics is to have quantifiable theories that can be “proved” or falsified by empirical evidence, and though there may be some who hold that the proper way to ascertain economic truths is through “imaginative and creative writing, especially recognized artistic value”, this dichotomy is not comprehensive of the Austrian view.

The Austrian methodological position is that economics should proceed logically from realistic foundations. Continue reading “Mathematical Economics vs. “Literary” Economics?”

Noahgreement on similarities between Austrians and New Classicals

Originally posted on mises.ca February 7, 2014

I’ve got a confession to make: my favourite economics blog name is Noah Smith’s “Noahpinion”. It’s a really great blog name.

With the niceties out of the way, let’s address Smith’s latest screed: “How the New Classicals drank the Austrians’ milkshake”. In it, Smith tries to make the case that the reason that the Austrian school is “dead” as a serious scholarship program isn’t because the Austrians have too many different ideas from the “New Classical” mainstream, but rather because all the best Austrian ideas have been incorporated into the New Classical tradition.

Smith does this using cutting edge blogging techniques: a list. First he lists three similarities between central Austrian and New Classical claims, and then lists two “big differences”. Let’s see what Smith gets right, and wrong, in his comparative analysis of Austrian and New Classical economics.

Smith Claim #1: “Rational Expectations” is a refinement of the Action Axiom

Smith starts out his characterization of the Austrian school by quoting Mises from Human Action, which is good. He goes on to describe Mises’ writing as “pre-WW2 European literary style”, which is somewhat funny, given that Human Action was written after the Second World War, and in the United States. But I get what he’s saying.

Let’s reproduce the Mises quote here: Continue reading “Noahgreement on similarities between Austrians and New Classicals”

The Ultimate Microfoundation: Human Action

Originally posted on mises.ca on January 25, 2014

Much fuss is made in macroeconomic circles over so-called “microfoundations”: microeconomic justifications for macroeconomic models, as opposed to macro models that make ad hoc assumptions about utility, preferences, and price setting. People like to bring up the “Calvo pricing model”, where (supposedly) a magical fairy selects a firm at random to change its price, as both an example of a solid microfoundation and a brazenly nonsensical one.

Of course, when the even foundations of mainstream microeconomics are shaky at best—assuming such silly things such as perfect competition, farmers who solve calculus equations, perfect information, infinitely lived households, and infinitely divisible tractors—many macroeconomists are rightly skeptical of blanket calls by microeconomists to cite their papers and books when macro guys are constructing a new model for inflation targeting or growth modeling. Some have even gone to deny any strong linkages between microeconomics and macroeconomics.

Ludwig von Mises acknowledged this debate and made a veiled attempt to solve it over a century ago in his first treatise, The Theory of Money and Credit (TMAC); and then made a more explicitly argument in his magnum opus, Human Action (HA). Continue reading “The Ultimate Microfoundation: Human Action”

The 2013 Economics Nobel Winners in their Own Words

Originally posted on mises.ca on October 17, 2013

It’s that time of year again: when Austriansspontaneously organize to collectively commit to disparaging the work and reputations of highly esteemed professional economists. For a sampling of what others have had to say, see here and here. This is my humble contribution to this storied tradition.

The Committee of the Swedish Riksbank Prize in Economic Sciences in Memory of Alfred Nobel decided this year to honour the works of three American economists: Robert Shiller of Yale, Eugene Fama of Chicago and Lars Peter Hansen of Chicago. All three are very well respected in the mainstream of the profession. And while there are many places that have summarized their contributions and beliefs, I present them here in their own words. (With my own quirky interpretation in parantheses.)

Here is Robert Shiller on the source of unemployment:

“Unemployment is a product of capitalism: people who are no longer needed are simply made redundant. On the traditional family farm, there was no unemployment.”

Continue reading “The 2013 Economics Nobel Winners in their Own Words”