Profit And Loss (1951)

Profit and Loss is a book written by Ludwig Von Mises and was first published in 1951. This book is an economic treatise that discusses the concept of profit and loss in a free-market economy. Mises argues that profits and losses are essential in a capitalist system as they provide vital information to entrepreneurs about the success or failure of their ventures. Mises begins by explaining the nature of economic calculation and how it is impossible without a system of private property and free exchange. He then delves into the concept of profit and loss, discussing how they are determined and their role in the market economy. Mises also explores the relationship between entrepreneurship and profit, arguing that entrepreneurs are the driving force behind economic growth and development. In addition to discussing the economic theory behind profit and loss, Mises also provides practical examples and case studies to illustrate his points. He examines various industries, including agriculture, manufacturing, and finance, to demonstrate how profit and loss impact different sectors of the economy. Overall, Profit and Loss is a seminal work in the field of economics, providing a comprehensive analysis of the role of profit and loss in a free-market economy. Mises' insights and arguments continue to be relevant today, and this book is a must-read for anyone interested in understanding the workings of capitalism and the market economy.This scarce antiquarian book is a facsimile reprint of the old original and may contain some imperfections such as library marks and notations. Because we believe this work is culturally important, we have made it available as part of our commitment for protecting, preserving, and promoting the world's literature in affordable, high quality, modern editions, that are true to their original work.