Liberalism- Ludwig von Mises

Topics: Capitalism, Ludwig von Mises, Socialism Pages: 3 (921 words) Published: November 24, 2013


Liberalism
Name
Institution

Mises on private property, freedom, peace, and equality
Ludwig von Mises asserts in his book ‘liberalism’ that classical liberal freedoms are essential in promoting peace, social harmony, and general welfare in society. He argues that these freedoms included the rights to private property, equality, and peace. According to Mises (1962), private ownership of property is fundamental in a market economy. Private property regards the factors of production in capital and land. By ensuring private ownership of the factors of production, the owners work towards employing them to meet the needs and satisfaction of other people’s wants (Mises, 1962). Private ownership of property allows the owners to compete so that they can gain any advantage from their property. The idea that these owners control the factors of production submits them to work towards meeting the demands of the public. Private ownership allows them to employ the factors of production in the best way possible to satisfy the needs of the consumers. Mises asserts that freedom should become granted to all or else when it gets denied the progress of mankind may become hindered. Freedom allows man to do both good and bad within a society (Mises, 1962). Economic freedom allows individuals to decide on how to integrate themselves within a society. He postulates that without freedom in a market economy, political liberties and bills of rights become deceptive and false. Political and economic freedom must go in tandem to ensure a prosperous society. Freedom within a society ensures that the society continues to function even when its members disagree in their judgments (Mises, 1962). Freedom ensures that members within a society become interdependent. When members in a society attain economic freedom, they begin to desire such freedom in other areas of their lives. A desire for freedom in all aspects of a society brings about prosperity and...
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