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No very deep knowledge of economics is usually needed for grasping the immediate effects of a measure but the task of economics is to foretell the remoter effects, and so to allow us to avoid such acts as attempt to remedy a present ill by sowing the seeds of a much greater ill for the future.

Ludwig von Mises

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Ludwig von Mises
Age: 92 †
Born: 1881
Born: September 29
Died: 1973
Died: October 10
Economist
Philosopher
University Teacher
Writer
Lemberg
Austria
Ludwig Heinrich Edler von Mises
Ludwig Heinrich Mises
Greater
Allow
Attempt
Knowledge
Usually
Acts
Remoter
Future
Effects
Seeds
Foretell
Much
Deep
Task
Sowing
Needed
Measure
Grasping
Present
Economics
Remedy
Liberty
Avoid
Immediate
Economic
Tasks
Ill

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What workers must learn is that the only reason why wage rates are higher in the United States is that the per head quota of capital invested is higher.
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Economic control is not merely control of a sector of human life that can be separated from the rest it is the control of the means for all our ends.
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Public works are not accomplished by the miraculous power of a magic wand. They are paid for by funds taken away from the citizens.
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There is no such thing as a just and fair method of exercising the tremendous power that interventionism puts into the hands of the legislature and the executive.
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The interventionist policy (big government) provides thousands and thousands of people with safe, placid, and not too strenuous jobs at the expense of the rest of society.
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The average American worker enjoys amenities for which Croesus, Crassus, the Medici, and Louis XIV would have envied him.
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The tow pillars of democratic government are the primacy of the law and the budget.
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The government and its chiefs do not have the powers of the mythical Santa Claus. They cannot spend except by taking out of the pockets of some people for the benefit of others.
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Some experts have declared that it is necessary to tax the people until it hurts. I disagree with these sadists.
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Nobody ever recommended a dictatorship aiming at ends other than those he himself approved. He who advocates dictatorship always advocates the unrestricted rule of his own will
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In the long run even the most despotic governments with all their brutality and cruelty are no match for ideas. Eventually the ideology that has won the support of the majority will prevail and cut the ground from under the tyrant's feet. Then the oppressed many will rise in rebellion and overthrow their masters.
Ludwig von Mises
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If some peoples pretend that history or geography gives them the right to subjugate other races, nations, or peoples, there can be no peace.
Ludwig von Mises
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What vitiates entirely the socialists economic critique of capitalism is their failure to grasp the sovereignty of the consumers in the market economy.
Ludwig von Mises
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The market system is the basis of our civilization. Its only alternative is the Führer principle.
Ludwig von Mises
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The entrepreneur profits to the extent he has succeeded in serving the consumers better than other people have done.
Ludwig von Mises
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Tyranny is the political corollary of socialism, as representative government is the political corollary of the market economy.
Ludwig von Mises
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It is impossible to describe any human action if one does not refer to the meaning the actor sees in the stimulus as well as in the end his response is aiming at.
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In life everything is continually in flux.
Ludwig von Mises
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It is the rule of law alone which hinders the rulers from turning themselves into the worst gangsters.
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The standard of living of the common man is higher in those countries which have the greatest number of wealthy entrepreneurs.
Ludwig von Mises