“That great cosmic principle of becoming”: elucidating Ludwig von Mises’s multifaceted account of the origin, development and function of the division of labour

Ludwig von Mises propounded a social theory grounded in the division of labour. However, he used different language to describe the phenomenon that he regarded as constitutive of society: an “insight,” “principle,” “theory,” “law,” “discovery,” “disclosure” and even “that great principle of cosmic becoming.” The variability of this language creates a degree of ambiguity surrounding exactly how Mises conceived the development and function of the division of labour. This article seeks to elucidate Mises’s understanding of the division of labour as a social phenomenon and suggests several implications for contemporary social theory.