MISES (Ludwig von).
Human Action. A Treatise on Economics.
The third edition, revised with a new preface, of Mises’s single most important work and surely one of the most influential economic texts of the twentieth century, originally published in 1949. The book represents the purest expression of the methodological subjectivism of the Austrian School - that is, the necessity to study all economic phenomena from the subjective viewpoint of individual economic agents - with Mises developing his own distinct methodology of ‘praxeology’ in which individual choices, being essentially purposive, constitute the a priori foundation of all valid economic reason.
‘It should become the leading text of everyone who believes in freedom, in individualism, and in the ability of a free-market economy not only to outdistance any government-planned system in the production of goods and services for the masses, but to promote and safeguard those intellectual, cultural, and moral values upon which all civilisation ultimately rests’ (Henry Hazlitt).
