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Source link: http://archive.mises.org/7613/last-knight-live-blog-18-greg-ransom/

“Last Knight” Live Blog 18 — Greg Ransom

January 3, 2008 by

Hulsmann has written a 1143 page book chock full facts and insights, yet we’re dealing with Mises here, a man who probed the fundamentals of his discipline like few before or since. So I feel less awkward pointing to a few things in Mises’ book on money that in a longer book (!) might have been worth attending to.

The first thing I’d like to give more attention to is the way in which Menger’s close attention to the classification of economic goods opens the window for a valid understanding of the operation of an extended economy. In particular I’d like to point to the place where Mises takes Menger’s logic and steps though the window which takes us from the logic of economics to an understanding of a real money economy — and conversely the impossibility of a socialist economy.

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