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"The fundamental social phenomenon is the division of labor and its counterpart human cooperation."

— Ludwig von Mises

The Fundamental Social Phenomenon Is The

The fundamental social phenomenon is the division of labor and its counterpart human cooperation.

— Ludwig von Mises
cooperation economics society

About this quote

From Human Action (1949), in Mises's opening discussion of the scope and method of economics. Mises placed the division of labor — the specialization of tasks among individuals — at the center of his account of how markets work and why they improve living standards. He argued that social cooperation through voluntary exchange is not a contingent fact but a logical consequence of the gains available through specialization.

Source

Human Action (1949)

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