Nation, State, And Economy

Ludwig von Mises wrote  Nation, State and Economy  in the same year, 1919, as John Maynard Keynes wrote  The Economic Consequences of the Peace , a better known diagnosis of and prescription for the postwar economic situation. Mises, writing a few months earlier, presumably had less detailed knowledge of the Versailles Treaty and so was less concerned with its specific provisions. Keynes went into more detail than Mises in estimating such things as the wealth of the belligerents, the amount of destruction suffered, and the capacity of the Germans to pay reparations. His focus was narrower, than that of Mises, who regarded his own analysis as one particular instance of applying lessons derived from both history and economic theory.