Funny story...I had already read some of Mises by the time I entered college.
After listening to the insane leftist professor in the Economics I course at college I approached the guy after class one day and asked him the simple question:
“Have you ever heard of Ludwig Von Mises.” He said “no”.
I was stunned—and learned just how ignorant so many of the big named Economics professors were.
But he was well-versed in Smith, Galbraith, Friedman, and Heller.
‘“Have you ever heard of Ludwig Von Mises.” He said “no”.
I was stunned—and learned just how ignorant so many of the big named Economics professors were.’
I think I would have learned about Mises in school if I had taken a two-semester elective on the history of economic thought. Instead, I took two semesters of econometrics. I thought it had more cash value in future employment.
I did put econometrics to use at work. However, I regret not taking the other courses with would have provided a rich literature with diverse thinking. Mainstream econ leaves you with marginal this and marginal that. It’s not bad but you can get in a rut.
I think it was Mises who wrote of the frugal wife who deferred every purchase. Inflation set it and she raced out to spend money before prices rose again. Then hyperinflation.
Monetarists would be right to say the wife is not at fault. Blame the government printing presses for printing more money. Yet changing psychology (all the housewives!) across the nation, is both effect and cause.