Commemoration of Ludwig von Mises (29/09/1881-10/10/1973)

Ludwig von Mises, who is considered as the most important theorist of the Austrian School of Economics, passed away on 10 October 1973. We commemorate his invaluable contribution to the theory of free market economics. His opus magnum is unquestionable “Human Action” which was published for the first time in 1949. Von Mises elaborated on the work of Carl Menger and Eugen von Böhm-Bawerk and created the comprehensive economic theory which is also known as the Austrian School of Economics. His pioneering work was further developed by Murray Rothbard and Friedrich von Hayek who received The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel in 1974, also called the Nobel Price for Economics.