KOOTHS | BiTS | Entrepreneurial Economics: Human Action I (winter term 2016/2017) 1 ENTREPRENEURIAL ECONOMICS Human Action I Prof. Dr. Stefan Kooths BiTS Berlin Winter term 2016/2017

KOOTHS | BiTS | Entrepreneurial Economics: Human Action I (winter term 2016/2017) 2 Ludwig von Mises: Life  *29 th September 1881, Lemberg/Austria-Hungary  University of Vienna »1906 PhD in Law and Economics »Member of the Böhm-Bawerk seminar »1913 to 1934 Adjunct professor  1909 to 1934 »Economist, Vienna Chamber of Commerce »Private seminar (Morgenstern, Machlup, Hayek, …) »Consultant to the government of Austria  1927 Founder of the Austrian Institute for Business Cycle Research  1934 to 1940 Institut Universitaire des Hautes Études, Geneva  1940 Emigration to the USA  1948 to 1969 Visiting professor at the University of New York  18 th October 1973, New York

KOOTHS | BiTS | Entrepreneurial Economics: Human Action I (winter term 2016/2017) 3 Ludwig von Mises: Major works  1912 Theorie des Geldes und der Umlaufsmittel »The Theory of Money and Credit (1953)  1922 Die Gemeinwirtschaft – Untersuchungen über den Sozialismus »Socialism – An Economic and Sociological Analysis (1951)  1927 Liberalismus »Liberalism (1962)  1933 Grundprobleme der Nationalökonomie: Untersuchungen über Verfahren, Aufgaben und Inhalt der Wirtschafts- und Gesellschaftslehre »Epistemological Problems of Economics (1960)  1940 Nationalökonomie – Theorie des Handelns und des Wirtschaftens »Human Action – A Treatise on Economics (1949)  1944 Omnipotent Government – The Rise of the Total State and Total War  1957 Theory and History – An Interpretation of Social and Economic Evolution  1962 The Ultimate Foundation of Economic Science – An Essay on Method

KOOTHS | BiTS | Entrepreneurial Economics: Human Action I (winter term 2016/2017) 4 Books on Mises  Jörg Guido Hülsmann (2007): Mises – The Last Knight of Liberalism; Ludwig von Mises Institute: Auburn/Alabama.Mises – The Last Knight of Liberalism  Israel M. Kirzner (2001): Ludwig von Mises – The Man and his Economics; ISI Books: Wilmington/Delaware.Ludwig von Mises – The Man and his Economics  Eamonn Butler (2010): Ludwig von Mises – A Primer; The Institute of Economic Affairs: London.Ludwig von Mises – A Primer  Mises and (much) more:

KOOTHS | BiTS | Entrepreneurial Economics: Human Action I (winter term 2016/2017) 5 Other important treatises on economics  Carl Menger »Principles of Economics (1871|1976); New York University Press: New York.Principles of Economics »Investigations into the Method of the Social Sciences with Special Reference to Economics (1963|1883); New York University Press: New York.Investigations into the Method of the Social Sciences with Special Reference to Economics  Frank A. Fetter »Economic Principles (1915); The Century Co.: New York.Economic Principles  Murray N. Rothbard »Man, Economy, and State with Power and Market (2009); Scholar’s Edition, second edition, Ludwig von Mises Institute: Auburn/Alabama.Man, Economy, and State with Power and Market  George Reisman »CAPITALISM – A Treatise on Economics (1998); TJS Books: Laguna Hills/California.CAPITALISM – A Treatise on Economics  Eugen v. Böhm-Bawerk »Capital and Interest: A Critical History of Economic Theory (1890|1884) ; Macmillan & Co.: London and New York.Capital and Interest: A Critical History of Economic Theory »The Positive Theory of Capital (1891|1888); Macmillan and Co.: London and New York.The Positive Theory of Capital

KOOTHS | BiTS | Entrepreneurial Economics: Human Action I (winter term 2016/2017) 6 Scientific social philosophy: Friedrich A. v. Hayek  The Constitution of Liberty (1959)  Law, Legislation and Liberty (1973/1976/1977) A New Statement of the Liberal Principles of Justice and Political Economy  The Fatal Conceit (1988) The Errors of Socialism

KOOTHS | BiTS | Entrepreneurial Economics: Human Action I (winter term 2016/2017) 7 Human Action mises.org/document/3250 mises.org/library/study-guide-human-action-treatise-economics

KOOTHS | BiTS | Entrepreneurial Economics: Human Action I (winter term 2016/2017) 8 Human Action: Overview  Introduction  Part I: Human Action  Part II: Action Within the Framework of Society  Part III: Economic Calculation  Part IV: Catallactics or Economics of the Market Society  Part V: Social Cooperation Without a Market  Part VI: The Hampered Market Economy  Part VII: The Place of Economics in Society

KOOTHS | BiTS | Entrepreneurial Economics: Human Action I (winter term 2016/2017) 9 Human Action: Contents and course sections 1 (1) (2) (3)

KOOTHS | BiTS | Entrepreneurial Economics: Human Action I (winter term 2016/2017) 10 Human Action: Contents and course sections 2 (4)

KOOTHS | BiTS | Entrepreneurial Economics: Human Action I (winter term 2016/2017) 11 Human Action: Contents and course sections 3

KOOTHS | BiTS | Entrepreneurial Economics: Human Action I (winter term 2016/2017) 12 Human Action: Contents and course sections 4

KOOTHS | BiTS | Entrepreneurial Economics: Human Action I (winter term 2016/2017) 13 Human Action: Contents and course sections 5

KOOTHS | BiTS | Entrepreneurial Economics: Human Action I (winter term 2016/2017) 14 Human Action: Contents and course sections 7