Best of
Economics

1940

Human Action: A Treatise on Economics


Ludwig von Mises - 1940
    Although governments may presume to set "prices," it is individuals who, by their actions and choices through competitive bidding for money, products, and services, actually determine "prices". Thus, Mises presents economics—not as a study of material goods, services, and products—but as a study of human actions. He sees the science of human action, praxeology, as a science of reason and logic, which recognizes a regularity in the sequence and interrelationships among market phenomena. Mises defends the methodology of praxeology against the criticisms of Marxists, socialists, positivists, and mathematical statisticians.Mises attributes the tremendous technological progress and the consequent increase in wealth and general welfare in the last two centuries to the introduction of liberal government policies based on free-market economic teachings, creating an economic and political environment which permits individuals to pursue their respective goals in freedom and peace. Mises also explains the futility and counter-productiveness of government attempts to regulate, control, and equalize all people's circumstances: "Men are born unequal and ... it is precisely their inequality that generates social cooperation and civilization."Ludwig von Mises (1881–1973) was the leading spokesman of the Austrian School of Economics throughout most of the twentieth century. He earned his doctorate in law and economics from the University of Vienna in 1906. In 1926, Mises founded the Austrian Institute for Business Cycle Research. From 1909 to 1934, he was an economist for the Vienna Chamber of Commerce. Before the Anschluss, in 1934 Mises left for Geneva, where he was a professor at the Graduate Institute of International Studies until 1940, when he emigrated to New York City. From 1948 to 1969, he was a visiting professor at New York University.Bettina Bien Greaves is a former resident scholar, trustee, and longtime staff member of the Foundation for Economic Education. She has written and lectured extensively on topics of free market economics. Her articles have appeared in such journals as Human Events, Reason, and The Freeman: Ideas on Liberty. A student of Mises, Greaves has become an expert on his work in particular and that of the Austrian School of economics in general. She has translated several Mises monographs, compiled an annotated bibliography of his work, and edited collections of papers by Mises and other members of the Austrian School.

Tithing


Arthur W. Pink - 1940
    They profess to take the Bible as their own rule of faith and practice, and yet in the matter of Christian finance, the vast majority have utterly ignored its plain teachings and have tried every substitute the carnal mind could devise; therefore it is no wonder that the majority of Christian enterprises in the world today are handicapped and crippled through the lack of funds. Is our giving to be regulated by sentiment and impulse, or by principle and conscience? That is only another way of asking, Does God leave us to the spirit of gratitude and generosity, or has He definitely specified His own mind and particularized what portion of His gifts to us are due to Him in return? Surely God has not left this important matter without fully making known His will! The Bible is given to be a lamp unto our feet and therefore He cannot have left us in darkness regarding any obligation or privilege in our dealings with Him or His with us.

Hopousia or The Sexual and Economic Foundations of a New Society


J.D. Unwin - 1940
    Utopia's, sex and economics...