Which Career?

As the nineteenth century drew to a close, and Ludwig reached the age of legal maturity, he took some time to consider the path that lay ahead. Austria-Hungary offered four career options for well-educated young men. These were, in order of their prestige: the military, public service, the liberal arts, and commerce.

In liberal post-1848 Austria, industry and commerce were— with some exceptions—open to anyone, even though they were often subject to countless regulations, remnants of the pre-1848 police state. Activity in these fields attracted the educated young men of the bourgeoisie, and entrepreneurial leadership was exercised by the most daring strata of the population, including Jews who excelled as merchants, bankers, and insurers. The liberal economy had given these entrepreneurs great opportunities to serve their fellow-citizens and thereby earn great fortunes for themselves. They usually started in a province of the empire and then expanded to all of Austria-Hungary, and sometimes to an international scale. Once they reached this size they transferred company headquarters and moved their families to Vienna.

However, the great majority of the sons of provincial engineers and entrepreneurs did not aspire to follow in the footsteps of their fathers. Encouraged by their parents, and with the constant personal support of their mothers, they sought to become lawyers, physicians, scientists, artists, public servants, or politicians. Young Ludwig was no exception. His father's example had inspired him with respect for the civil service and with a desire to use his energies to the benefit of the commonwealth. Philosophy, politics, and history were more attractive to him than the old trades of his family. He decided to study at the University of Vienna, get a degree, and seek employment in the civil service. He passed the final written exam at the Akademischen Gymnasium in May 1900, and the orals in mid-July of that year. In the fall, together with his classmates Hans Kelsen and Eugen Engel, Mises enrolled in the Department of Law and Government Science.⁶² He was a handsome young man with blue eyes, 5 feet 8 ¹/₂ inches tall (171 cm).⁶³ He came with a great education, a razor-sharp mind, and passion for ideas that could be applied for social progress. He was made for the university.