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Economic policy, thoughts for today and tomorrow by Ludwig von Mises

By Ludwig von Mises

''Economic Policy'' includes six lectures Ludwig von Mises brought in 1959 on the Centro de Estudios Sobre los angeles Libertad in Argentina. The lectures have been posthumously transcribed by means of Mises' spouse, Margit, and edited via George Koether, a scholar and long-time buddy of Mises. This quantity serves as a great advent to what Mises sees because the basic truths of background when it comes to fiscal rules. In easy language, Mises explains issues corresponding to capitalism, socialism, interventionism, inflation, international funding, and monetary regulations and concepts.

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It also has to buy the raw materials and other things that are needed for the conduct of these enterprises. And on the other hand, it “sells” these services or commodities to the public. Yet, even though it operates these institutions using the methods of the free economic system, the result, as a rule, is a deficit. The government, however, is in a position to finance such a deficit—at least Interventionism 41 the members of the government and of the ruling party believe so. It is certainly different for an individual.

This is perfectly true in a capitalist society. It was not true for a precapitalistic status society. The families who were considered the great aristocratic families of Europe are still the same families today or, let us say, they are the descendants of families that were foremost in Europe, 800 Socialism 27 or 1000 or more years ago. The Capetians of Bourbon— who for a very long time ruled here in Argentina—were a royal house as early as the tenth century. These kings ruled the territory which is known now as the Ile-de-France, extending their reign from generation to generation.

They can write books; they can write articles; they can make speeches; the y can even preach at street corners if they want—and they do this in many countries. But they must not try to police other people in order to prevent them from doing certain things simply because they themselves do not want these other people to have the freedom to do it. This is the difference between slavery and freedom. The slave must do what his superior orders him to do, but the free citizen—and this is what freedom means—is in a position to choose his own way of life.

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