Here is the grand contribution of this volume. He gave a thoroughly modern defense of freedom, one that corrected the errors of the old liberal school by rooting the idea of liberty in the institution of private property (a subject on which the classical school was sometimes unclear). Mises did more than restate classical doctrine. It was written to address the burning question: if not socialism, and if not fascism or interventionism, what form of social arrangements are most conducive to human flourishing? Mises's answer is summed up in the title, by which he meant classical liberalism. It first appeared in 1927, as a followup to both his devastating 1922 book showing that socialism would fail, and his 1926 book on interventionism. This new edition, a gorgeous hardback from the Mises Institute, features a new foreword by Thomas Woods. It has been the conscience of a global movement for liberty for 80 years. This is Mises's classic statement in defense of a free society, one of the last statements of the old liberal school and a text from which we can continue to learn.
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