Planning For Freedom and Other Essays and Addresses.

The first edition came out in 1952, and headlined the essay "Planning for Freedom," which makes the point that the choice isn't between a planned economy and an unplanned one but rather one between government planning and planning by property owners. It was an address given in 1945 before the American Academy of Political and Social Science. Mises had legendarily shocked the audience by contrasting the "Bismarck orthodoxy" and the "Jefferson orthodoxy," and using bad American economists to prove his point. Other essays include: "Middle-of-the-Road Policy Leads to Socialism," "Laissez Faire or Dictatorship," "Inflation and Price Control," "Economic Aspects of the Pension Problem," "Economic Teaching at the Universities," "Trends Can Change," "The Political Chances Of Genuine Liberalism," "The Gold Problem," "Capital Supply and American Prosperity, and the central contribution "Profit and Loss," presented at the Mont Pelerin Society in 1951. It represents his most mature thinking on the core of the capitalist economy: the price system, calculation, the theory of cost, entrepreneurship, wealth accumulation, and competition. According to Mises, inflation, that is monetary expansion, is destructive; it destroys savings and investment, which are the basis for production and prosperity. Government controls and economic planning never accomplish what their proponents intend. Mises consistently argues that the solution to government intervention is free markets and free enterprise, which call for reforming government. For that, ideas must be changed to “let the market system work.” There is no better “planning for freedom” than this.