Did Ludwig von Mises have kids?
When Mises met her, she was thirty-five years old and a very attractive widow with two children, Guido and Gitta.
How did Ludwig von Mises criticize the social economy?
Mises developed his critique of socialism more completely in his 1922 book Socialism: An Economic and Sociological Analysis, arguing that the market price system is an expression of praxeology and can not be replicated by any form of bureaucracy.
How did John Maynard Keynes cause economic crisis?
Keynesian economics represented a new way of looking at spending, output, and inflation. According to Keynes’s construction of this so-called classical theory, if aggregate demand in the economy fell, the resulting weakness in production and jobs would precipitate a decline in prices and wages.
What did economist John Maynard Keynes believe about deficit spending?
Keynes recognized that his deficit spending solution to boost “effective demand” could explode the national debt and cause inflation in the future. But he thought the government could address these problems by increasing taxes once prosperity returned.
What is the Ludwig von Mises Institute?
Courses and programs in Austrian Economics have been taught and established throughout the country. Taking the lead in this revival of Mises and in the study and expansion of Misesian doctrine has been the Ludwig von Mises Institute, founded by Llewellyn Rockwell, Jr. in 1982 and headquartered in Auburn, Alabama.
What did Mises do for the Austrian School?
In over two decades of teaching, he inspired an emerging Austrian School in the United States. The year after Mises died in 1973, his most distinguished follower, F.A. Hayek, was awarded the Nobel Prize in economics for his work in elaborating Mises’s business cycle theory during the later 1920s and 1930s.
What languages did Ludwig von Mises speak?
By the age of 12, Mises spoke fluent German, Polish and French, read Latin and could understand Ukrainian. Mises had a younger brother, Richard von Mises, who became a mathematician and a member of the Vienna Circle, and a probability theorist. When Ludwig and Richard were still children, their family moved back to Vienna.
What is the significance of the Mises Institute’s coat of arms?
The Mises Institute’s coat of arms is that of the Mises family, awarded in 1881 when Ludwig von Mises’s great-grandfather Mayer Rachmiel Mises was ennobled by the Emperor Franz Josef I of Austria.