Ludwig von Mises 101: Prominent Thinker of Austrian School

Ludwig von Mises, a prominent thinker within the Austrian School of economics, as well as in the fields of history, philosophy, and writing, was born in 1881. Influenced by Carl Menger’s ideas, he became one of the leading figures in the Austrian School.

He had a significant impact on the libertarian movement and authored many important works throughout his life. After his death in 1973, von Mises’ ideas gained a following worldwide. If you want to learn more about him, you can read this article on Zatrun.com.

Who is Ludwig von Mises?

Ludwig von Mises was born in 1881, the son of a Jewish railway engineer, in the Austro-Hungarian Empire. His career journey began when he was accepted to study law and administrative sciences at the University of Vienna at the age of 19.

During this time, while studying administrative science history with Carl Grünberg, he read Carl Menger’s “Principles of Economics” book. This reading caused him to move away from a historian’s perspective and focus more on the field of economics.

After completing his doctorate in 1906, Mises began working as a financial manager in the public sector. However, he became dissatisfied with the workings of bureaucracy and later worked as an intern at a law firm for two years.

Later, influenced by Menger, he began working at the Vienna Chamber of Commerce, where he would continue to work for 25 years. He was forced to leave his job at the Chamber of Commerce due to World War II. After fleeing the Nazis, Mises began teaching at the University of Geneva before finally emigrating to the United States, unable to withstand the pressures he faced.

His Academic Life

Ludwig von Mises, who began working as a visiting professor at New York University, made significant contributions to the education of libertarian intellectuals through his seminars. Mises was one of the second-generation economists in the tradition of Eugen von Böhm-Bawerk of the Austrian School. Therefore, he worked with Hans Mayer and Joseph Alois Schumpeter.

Mises, who passed away in 1973 at the age of 92, is considered an especially important thinker in the field of economics. He is even regarded as the most important thinker of the Austrian School of economics.

Mises made many contributions to economics, including his work on the quantity theory of money, the evaluation of monetary theory from an economic perspective, and the problems of socialism. Throughout his life, he authored many books and articles, including two important works, “The Theory of Money and Credit” and “Socialism: An Economic and Sociological Analysis.”