In Austria, however, one prominent economist refused to go along. His name was Ludwig von Mises, known all over the Continent for his pioneering contributions to economic theory, his personal integrity, his tenacity, his love of liberty, and his dogged opposition to all forms of despotism.
As the storm clouds gathered, he realized that Austria would fall to either the Communists or the Nazis. Then in 1934, a letter arrived. It was from an independent academic institute in Switzerland, offering Mises a position. It meant a two-thirds cut in pay, but it also meant sanctuary.
He left immediately for Geneva, and for six years, until he emigrated to America, he worked very hard. The result was the original German version of Human Action, the greatest economic treastis of the 20th century. Even today, Human Action is a big seller, still educating students in liberty.
Meanwhile, the Nazi armies did arrive in Austria, marched to Mises's apartment, and stole everything, including all the books and papers he had not taken with him to Switzerland. Mises.e never saw them again, but his ability to research, write, and teach had survived.
People ask, what would have become of the idea of liberty had Human Action not been written. But another question is just as important: What would have become of Mises had that insitute not existed to provide him refuge?
When I think of the value of the Mise Institute to the world, I think of our predecessor in the 1930s. The parallels between them and now are obvious, and chilling.
~ Lew Rockwell, November 25, 2021
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