The revival of Austrian economics and the spread of its distinctively consistent and uncompromising libertarian message would have been inconceivable in absence of Mises’s magnum opus Human Action: A Treatise on Economics.
Chapter 20, Human Action and Its Consequences, is about the success and impact of this book — on Mises himself, on his readers, on other scholars, on the intellectual opinion through various publications spreading his ideas and advocating his views but, most of all, the chapter is on the future generations of Misesians who would carry forward the great man’s legacy.
Here we meet young Murray Rothbard, learn about his conversion to Misesian economics, the writing and the development of Rothbard’s own treatise, Man, Economy, and State, that went beyond Mises. We also learn about other Mises’s students such as Ralph Raico, George Reisman, and Hans Sennholz. All of them would later make important to revolutionary contributions in history and economics. This and more awaits the reader in this very exciting and, finally, a not too-heavy-on-theory chapter. And on the end of the chapter, there are some quite funny pictures of Mises. Enjoy!