Ludwig von Mises | Generated by AI
Ludwig von Mises was an Austrian-American economist, philosopher, and sociologist known for his significant contributions to the Austrian School of economics. Born on September 29, 1881, in Lemberg, Austria-Hungary (now Lviv, Ukraine), he came from an affluent Jewish family and was fluent in several languages, including Polish, French, and German, by the age of twelve. He also had a strong understanding of Latin and Ukrainian.
Mises earned his doctorate in law and economics from the University of Vienna in 1906. He was a professor at the University of Vienna from 1913 to 1938, where he mentored notable economists like F.A. Hayek. His work, “The Theory of Money and Credit,” published in 1912, was a seminal text in the field of economics and was widely used for decades.
During World War I, Mises was drafted by the Austrian government despite his opposition to the war. He later fled Austria after the rise of Adolf Hitler and eventually settled in Switzerland. In 1940, he migrated to the United States and became a professor at New York University from 1945 to 1969.
Mises was a strong advocate of classical liberalism and the power of consumers. His ideas significantly influenced the Austrian School of Economics and the modern free-market libertarian movement. The Mises Institute, founded in 1982, continues to promote his ideas and teachings in economics, individual freedom, and international peace.
Mises passed away on October 10, 1973, in New York City, leaving behind a lasting legacy in the field of economics and political philosophy.