Human Action - A Masterpiece of Economic Thought by Ludwig von Mises

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In this video, we explore Ludwig von Mises’ groundbreaking work Human Action—a masterpiece of economic thought from the Austrian School. Mises revolutionized how we understand economics by focusing on individual choices and subjective value rather than abstract systems. He demonstrated that free markets thrive because they reflect the decisions of millions, while centralized systems like socialism fail due to the lack of proper calculation and incentives.
We’ll break down core concepts like the power of free markets, the economic calculation problem, and how individual decision-making drives innovation and prosperity. Mises also emphasized that economics is about more than money—it’s about freedom, morality, and human dignity.
Whether you’re curious about markets or want to understand the forces shaping the world, this video simplifies Mises’ transformative ideas into bite-sized, easy-to-follow explanations. Join us to discover why Human Action remains essential for understanding both economics and humanity today.
00:00 - Introduction to Human Action
00:36 - Importance of 'Human Action' today
00:57 - Praxeology – Understanding Human Behavior
01:40 - The Power of Free Markets
02:32 - Economic Calculation and Why Socialism Fails
03:12 - Human Action and the Individual
03:46 - Why 'Human Action' is a Must-Read