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Volkswirtschaft is German for national economy. In Mises' interpretation it is the national political economy in the sense of a nation's politically directed or controlled economy or even national socialism. The term implies that the welfare or interests of the nation or society are somehow different from, superior to, and often opposed to those of the nation's individual inhabitants.[1]


  1. Percy L. Greaves, Jr. "Mises Made Easier ", 1974. Referenced 2014-08-25.