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Interventionism: An Economic Analysis

JULY 29, 2009

In this work, Mises criticizes government interference in the market: regulations, wage and price controls, tariffs, special privileges, and subsidies for some at the expense of others. He points out that although enacted with the best of intentions, such government interventions lead to conditions that even their advocates consider worse than those they were trying to alleviate in the first place. In addition, he explains how interventionism eventually gives way to socialism. Although Mises has made these arguments elsewhere, in this volume he does so especially clearly, concisely, and thoroughly.

 

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Unfortunately, educating people about phenomena that are counterintuitive, not-so-easy to remember, and suggest our individual lack of human control (for starters) can seem like an uphill battle in the war of ideas. So we sally forth into a kind of wilderness, an economic fairyland. We are myth busters in a world where people crave myths more than reality. Why do they so readily embrace untruth? Primarily because the immediate costs of doing so are so low and the psychic benefits are so high.
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