The fundamental social phenomenon is the division of labor and its counterpart human cooperation.- Ludwig Von Mises, Human Action, p. 151People in the mainstream think of economics as a way for others to feed their greed. Either that or their eyes glaze over when libertarians start to talk about things like capitalism, private property rights, the money supply, or interest rates. However, at the foundation of all these things is something everyone agrees is important, human cooperation. Mises’ quote succinctly yet beautifully teaches that the ideas of cooperation in society and economics are connected.Also, found in Mises’ quote are the competing ideas of individualism and collectivism. On one hand, it teaches the importance of individual specialization by mentioning the division of labor.

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