Ludwig von Mises on Trade, Human Development, and Human Progress

Abstract

Ludwig von Mises examined trade holistically and integrated it into a powerful social theory. Here, we can derive and illustrate two foundational results which expand on the simple gains from trade: 1. The positive trend of human development that contributes to human economic progress, and 2. The entire landscape of State policies (domestic intervention, protectionism, and foreign policy) that can negatively affect the trend of development and human progress. The combination of these two results provides a basis for rational policy choice.

Keywords: Free Trade, International Trade, Economic Development, Human Progress, Ludwig von Mises

JEL Classification: A1, B4, F1, F13, F5, N00, O1