Ludwig von Mises

Ludwig von Mises was a famous Austrian economist. He was born in 1881 and lived until 1973. He believed that governments were not necessary for the proper functioning of an economy and he helped popularize the idea of the free market. He argued that people should be allowed to do what they want with their money and businesses should be able to decide what to produce and how much to produce based on what customers want. He believed that prices and wages help send signals to businesses and consumers so they can make decisions that will benefit both sides. He also believed governments should not get involved in the economy, because they could not possibly have all the information needed to make the best decisions.