All Commentary
Tuesday, September 1, 1981

Society


Society is joint action and cooperation in which each participant sees the other partner’s success as a means for the attainment of his own. Social cooperation has nothing to do with personal love or a general commandment to love one another. People do not cooperate because they love or should love one another. They cooperate because this best serves their own interest.

The advantages derived from peaceful cooperation and the division of labor are universal. They immediately benefit every generation, and not only later descendants. For what the individual must sacrifice for the sake of society he is amply compensated by greater advantages. His sacrifice is only apparent and temporary; he foregoes a smaller gain in order to reap a greater one later.


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