Quote

Without market prices for capital goods, accounting is not possible. You don't know if you are making money or losing money, saving resources or wasting them, doing the right thing or not doing the right thing.

Llewellyn Rockwell

Change background

T
T
T

Change font

TAGS & TOPICS

Llewellyn Rockwell
Money
Capital
Without
Goods
Right
Saving
Thing
Market
Resources
Losing
Accounting
Possible
Wasting
Making
Prices

More quotes by Llewellyn Rockwell

Image
Money out of nothing is money that is eventually worth nothing.
Llewellyn Rockwell
Image
If the people are led to believe that scarce resources are best channeled in a direction that producers and consumers would not choose on their own, the result must necessarily be central planning.
Llewellyn Rockwell
Image
It's a hard truth for Americans to face, that neither team in Washington is going to guard what we love the most. That is something we are going to have to face. Liberty is for the citizens to guard themselves.
Llewellyn Rockwell
Image
Repeal the entire Banking Act of 1933, and Austrian School economists will cheer, especially if the current system were replaced by a 100%-reserve competitive banking with no central bank. That banking reform would give us a sound money system, meaning no more business cycle, bailouts, or inflation.
Llewellyn Rockwell
Image
In any government bureaucracy, they are not working for you but for the mythical blob called the 'public sector,' which is really nothing but a stash of stolen cash divided among the robber class.
Llewellyn Rockwell
Image
Always and everywhere, the only serious political issue is what the state should and should not do. All the rest distracts.
Llewellyn Rockwell
Image
There is nothing the state can do, and which society needs done, that cannot be done far better by the market.
Llewellyn Rockwell
Image
The state is a vast enterprise for declaring all sorts of things legal for itself that would be illegal for us.
Llewellyn Rockwell
Image
We like to imagine that in history, truth will prevail through sheer persuasive power. Sadly, this is not the case. Truth needs champions.
Llewellyn Rockwell
Image
The danger to a free society is not the guns owned by the citizens but an unconstrained government.... An armed society is a self-governing society, just as a disarmed people are vulnerable to arbitrary power of every kind.
Llewellyn Rockwell
Image
To centralize power in the name of freedom is akin to putting a crime syndicate in charge of rooting out corruption. It is the normal state of politics that the more centralized it is, the more damage it does. Fast-track authority [for government-to-government trade agreements] centralizes power and is therefore part of the problem.
Llewellyn Rockwell
Image
The state is and has been in history a source of disorder and chaos, and this problem gets worse the more the state grows.
Llewellyn Rockwell
Image
Let every nation, right now, do what is best for all citizens of the world: eliminate every form of intervention that would prevent or otherwise hobble mutually beneficial trade between any two parties anywhere in the world. No bureaucracy can help us toward that goal it must come from a growing realization of the merit of freedom itself.
Llewellyn Rockwell
Image
Socialized medicine must fail for the same reasons all socialism must fail: it offers no system for rationally allocating resources, and instead promotes the overutilization of all resources, ending in bankruptcy.
Llewellyn Rockwell
Image
The fact is that the New Deal did not work. It prolonged what might have been a troubling two-year downturn into a horrifying blow to world prosperity that ended up in a war that killed countless millions. It was one of the greatest acts of wreckage in world history.
Llewellyn Rockwell
Image
Profit is a signal that valuable services are being rendered to people on a voluntary basis.
Llewellyn Rockwell
Image
American money was never more sound, or banking more free, than 200 years ago. Since then, it's been a long steady decline from the gold standard and competitive banking to our Fed-run system of inflated paper currency, deposit insurance, and perpetually shaky banks on the dole.
Llewellyn Rockwell
Image
The state always poses a greater threat to society than whatever problem it purports to solve.
Llewellyn Rockwell
Image
Capitalism, and capitalism alone, has rescued the human race from degrading poverty, rampant sickness and early death.
Llewellyn Rockwell
Image
The private sector is creating a miracle a day, even as the stuff that government attempts is failing left and right.
Llewellyn Rockwell