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The Development of the Misesian Theory of Interventionism

 Author: Don Lavoie  Date Published: 2005  File Size: 53.1 KB  Download

The aim of this chapter is to describe the evolution of the Misesian theory of interventionism from its first articulations by Ludwig von Mises to its modern reformulation by Murray N. Rothbard. The main focus will be on an emerging typology of interventionism according to which various government actions can be classified and their economic effects analyzed. It will be argued that Mises’s theory of interventionism has undergo ne substantive changes, by both Mises and Rothbard, and further that these changes can be called extensions and improvements. The changes are extensions of the scope of the concept of interventionism to an increasing variety of categories of government policy to which the original form of argument was applicable. They can be called improvements because it is only this more comprehensive concept of interventionism that can adequately fit into the analytical role that Mises tried to make it play in his overall theory of economic policy.

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