Austrian capital theory, as expounded by Eugen von Böhm- Bawerk, helped convince him that government meddling in interest rates had farreaching ancillary effects on the business cycle that could do grievous harm to the economy. And Mises’s critique of socialism and corresponding defense of the effi ciency of the market helped lead him to the conclusion that attempts to interfere with the price mechanism were almost always misguided.

Angus Burgin, The Great Persuasion, loc. 62