Ludwig von Mises was a prominent economist and a key figure in the Austrian School of economic thought. Born in 1881 in what is now Ukraine, Mises significantly contributed to economic theory, particularly through his advocacy of methodological individualism and his critique of socialism. He argued that humans act purposefully, which means that economic science must focus on individual choices rather than collective abstractions. His work laid the groundwork for understanding market mechanisms and the limitations of government intervention in the economy. Throughout his career, Mises produced influential texts, including "Human Action," which became a cornerstone of modern economic philosophy. In this work, he explored the nature of human behavior in economic contexts and emphasized the importance of free markets. Mises was critical of central planning, asserting that it inevitably leads to inefficiencies and the misallocation of resources. His theories helped shape the debate around capitalism versus socialism, advocating for the virtues of a free-market economy. Mises also played a significant role in the establishment of the Mont Pelerin Society, a group of pro-liberty scholars and intellectuals. In his later years, he moved to the United States, where he continued to teach, write, and influence the field of economics until his death in 1973. His legacy endures in contemporary economic thought, particularly among libertarians and free-market advocates who value his insights on the importance of individual liberty and economic freedom. Ludwig von Mises was a prominent economist born in 1881 in what is now Ukraine. He is a key figure in the Austrian School of economic thought, where he greatly influenced economic theory and practice, particularly through his critique of socialism and advocacy for free markets. Mises authored several influential books, including "Human Action," which emphasizes purposeful human behavior in economics and critiques central planning as inefficient. His work laid the foundation for understanding market mechanisms, illustrating the crucial role of individual choices in economic systems. Later in life, Mises helped establish the Mont Pelerin Society and continued to contribute to economics in the United States until his death in 1973. His theories remain vital in discussions on capitalism and economic freedom, particularly among those advocating for individual liberty.