“Ludwig von Mises was one of the most important free-market economists and philosophers of freedom in our time. Born in Lemberg in 1881 in the Austro- Hungarian Empire, his professional career spanned the first seven decades of the 20th century. In two dozen books and hundreds of articles and speeches, he shattered every one of the prevailing collectivist dreams and statist delusions. At a time when the false ideal of social engineering was near its zenith, Mises proved that socialist central planning was bound to fail. He showed how and why interventionist policies and the welfare state undermine men’s freedom, prosperity, and morality. He explained that government control and mismanagement of the monetary and banking system cause inflations and depressions. He irrefutably demonstrated that only a free-market economy can protect individual liberty, ensure rising standards of living, bring about entrepreneurial innovation, and successfully coordinate a world of never- ending change.”
Austrian Economics & Public Policy–Restoring Freedom and Prosperity, Richard Ebeling, p. 92.