Human Action

“Human Action: A Treatise on Economics” is the magnum opus of the Austrian economist Ludwig von Mises. It presents a case for laissez-faire capitalism based on Mises’ praxeology, or rational investigation of human decision-making. It rejects positivism within economics. It defends an a priori epistemology and underpins praxeology with a foundation of methodological individualism and laws of apodictic certainty. Mises argues that the free-market economy not only outdistances any government-planned system, but ultimately serves as the foundation of civilization itself. “Nationalökonomie: Theorie Des Handelns und Wirtschaftens” is the 1940 German-language predecessor to Human Action.

Publishing History
The first edition of the work came out in 1949, from the Yale University Press. The revised and expanded second edition came out in 1963. The latter edition, also by the Yale University Press, was full of mistakes and another one had to be done quickly afterwards, by another editor. The revised third edition came out in 1966 from Henry Regney. The fourth edition came out in 1996, with revisions by Bettina B. Greaves. Available in hardback single (Liberty Fund, ISBN 0-86597-630-9) and four volume paperback editions (Liberty Fund, ISBN 0865976317), as well as single volume paperback (Fox & Wilkes, ISBN 0930073185). In 1998 the Ludwig von Mises Institute brought back the first edition as the “Scholars Edition” ISBN 0945466242

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Human Action