LMR – January 2012

In his book, Human Action, Mises explains how the interventionist policies that have been practiced for decades by all governments of the capitalistic West have brought about all of those effects that economists have predicted. There have been wars and civil wars, ruthless oppression of the masses by clusters of self-appointed dictators, economic depressions, mass unemployment, capital consumption, and famines. However, it is not these catastrophic events that have led to the crisis of interventionism, but rather that the interventionists and their followers explain that all these undesirable consequences are the unavoidable features of capitalism.