Ludwig von Mises speaks about the political consequences of the welfare state. He begins by recounting the origin and semantics of the term welfare state. He then concentrates on how the interests of individual members of a legislature is not the welfare of the nation, but the welfare of its constituents. Mises believes the system of interventionist government leads to inflation. Delivered at the meeting of the Mont Pèlerin Society in Princeton, New Jersey, on September 9, 1958.
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