Human Action: A Treatise on Economics

Volume IV Title Page, Copyright

 human action A Treatise on Economics Volume 4 Titles in the Liberty Fund Library of the Works of Ludwig von Mises The Anti-capitalistic Mentality Between the Two World Wars: Monetary Disorder, Interventionism, Socialism, and the Great Depression Bureaucracy Economic Freedom and Interventionism: An Anthology of Articles and Essays Human Action: A Treatise on Economics and History of Our Time Liberalism: The Classical Tradition Nation, State, and Economy: Contributions to the Politics Planning for Freedom: Let the Market System Work The Political Economy of International Reform and Reconstruction and Economic Evolution The Ultimate Foundation of Economic Science: An Essay on Method Socialism: An Economic and Sociological Analysis Theory and History: An Interpretation of Social The Theory of Money and Credit Human Action A Treatise on Economics ludwig von mises Edited by Bettina Bien Greaves Volume 4 liberty fund Indianapolis  This book is published by Liberty Fund, Inc., a foundation established to encourage study of the ideal of a society of free and responsible individuals. The cuneiform inscription that serves as our logo and as the design motif for our endpapers is the earliest-known written appearance of the word “freedom” (amagi), or “liberty.” It is taken from a clay document written about 2300 b.c. in the Sumerian city-state of Lagash. Editorial Additions © 2007 Liberty Fund, Inc. All Rights Reserved First published in 1949 by Yale University Press with a revised edition in 1963. In 1966, Henry Regnery Company published the third revised edition in agreement with Yale. The fourth revised edition (and the edition used for this setting) was published in 1996 by The Foundation for Economic Education, Inc. in cooperation with Bettina Bien Greaves. Mises Made Easier: A Glossary for Ludwig von Mises’ HUMAN ACTION © 1990 Bettina Bien Greaves and reprinted with permission. Front cover photograph of Ludwig von Mises used by permission of the Ludwig von Mises Institute, Auburn, Alabama Frontispiece courtesy of Bettina Bien Greaves Printed in the United States of America Library of Congress Cataloging-in-Publication Data Von Mises, Ludwig, 1881–1973 Human action: a treatise on economics/Ludwig von Mises; edited by Bettina Bien Greaves. p. cm.—(Liberty Fund library of the works of Ludwig von Mises) Originally published: 4th rev. ed., Irvington-on-Hudson, N. Y.: Foundation for Economic Education, c1996. Includes bibliographical references and index. isbn-13: 978-0-86597-630-6 (hardcover: 4 volume set: alk. paper) isbn-13: 978-0-86597-631-3 (pbk.: 4 volume set: alk. paper) [etc.] 1. Economics 2. Commerce. I. Greaves, Bettina Bien. II. Title. hb171.v63 2007 330–dc22 2005025025 Vol. 4 isbns: 978-0-86597-677-1 (hc) 978-0-86597-681-8 (pb) Liberty Fund, Inc. 8335 Allison Pointe Trail, Suite 300 Indianapolis, Indiana 46250-1684 C 10 9 8 7 6 5 4 3 2 P 10 9 8 7 6 5 4 3 ...