Liberalism for Beginners

Based on the original 1962 edition, this book, previously titled "The Free And Prosperous Commonwealth: An Exposition Of The Ideas Of Classical Liberalism," is an influential work containing economic analysis and a scathing critique of socialism. Authored by Mises, it starts from the principle of private property and demonstrates how the other classical liberal freedoms stem from property rights, arguing that liberalism free of government intervention is necessary to promote peace, social harmony, and the general welfare.

Mises' central premise is that the term "liberalism" in the United States had, by the time of the New Deal and especially in the 1960s, become widely used to refer to a leftist ideology supporting various degrees of government intervention, in opposition to the classical liberal principles espoused in this book. As a result, the English edition in 1962, translated by a student of Mises, Ralph Raico, was titled "The Free and Prosperous Commonwealth" rather than "Liberalism."

The book presents a comprehensive analysis of the foundations of classical liberalism, tracing its principles from the fundamental tenet of private property. Mises argues that by safeguarding property rights, the other essential liberal freedoms, such as freedom of speech, freedom of religion, and freedom of association, are naturally upheld. He contends that this comprehensive system of liberalism, free from government interference, is the optimal path to achieving peace, social cohesion, and the overall well-being of society.

Mises' work stands as a seminal contribution to the understanding of classical liberal thought, providing a robust intellectual framework for advocating a society based on individual liberty, free markets, and limited government. The book serves as a counterpoint to the emerging statist ideologies that were gaining traction in the mid-20th century, offering a compelling alternative vision for the role of the state in a prosperous and harmonious social order.

Through his meticulous economic analysis and unwavering defense of the classical liberal principles, Mises aims to reclaim the term "liberalism" from its contemporary misappropriation and reestablish it as a coherent and principled political and economic philosophy. The work has had a lasting impact on the discourse surrounding the role of the state, the importance of private property, and the pursuit of individual liberty within a well-functioning society.

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