This is a collection of nine lectures Mises gave in San Francisco in 1952, all of which deal with the ideas and consequences of Marxism. The first several explore Marxism’s view of history and conflict with Mises offering counter-arguments and alternative interpretations along the way. The chapter on the Industrial Revolution is particularly notable. The second half of the book deals with the real causes of economic evolution, namely capitalism. In addition to explaining how capitalism actually works, Mises tackles one major objection to capitalism – its supposed tendency to lead to business cycles and crisis. These lectures are an excellent overview of the problems of Marxism from a classical liberal perspective.


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Ludwig von Mises
Ludwig von Mises (1881-1973) taught in Vienna and New York and served as a closes adviser to the Foundation for Economic Education. He is considered the leading theorist of the Austrian School of the 20th century.