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Is still fulfilling its social function in supplying the consumers with more, better and cheaper goods.
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
Stills
Supplying
Still
Cheaper
Better
Fulfilling
Goods
Consumers
Capitalism
Function
Social
More quotes by Ludwig von Mises
The market and its inescapable law are supreme.
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The state is the only institution entitled to apply coercion and compulsion and to inflict harm upon individuals. This tremendous power cannot be abandoned to the discretion of some men, however competent and clever they may deem themselves. It is necessary to restrict its application. This is the task of the laws.
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Inflation is the true opium of the people and it is administered to them by anticapitalist governments and parties.
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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.
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During the 2300 years since Plato, very little opposition has been registered to his ideas.
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Government and state can never be perfect because they owe their raison d'être to the imperfection of man and can attain their end, the elimination of man's innate impulse to violence, only by recourse to violence, the very thing they are called upon to prevent.
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Innovators and creative geniuses cannot be reared in schools. They are precisely the men who defy what the school has taught them.
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Socialism in Russia has not brought about an improvement in the conditions of the average man which can be compared with the improvement of conditions, during the same period, in the United States.
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The tricks and artifices of advertising are available to the seller of the better product no less than to the seller of the poorer product. But only the former enjoys the advantage derived from the better quality of his product.
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There is no kind of freedom and liberty other than the kind which the market economy brings about.
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Freedom is indivisible. As soon as one starts to restrict it, one enters upon a decline on which it is difficult to stop.
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It is not enough for [the investor] to know all the factors that can possibly contribute to the determination of a future event. In order to anticipate correctly they must also anticipate correctly the quantity as it were of each factor's contribution and the instant at which its contribution will become effective.
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In the socialist commonwealth every economic change becomes an undertaking whose success can be neither appraised in advance nor later retrospectively determined. There is only groping in the dark. Socialism is the abolition of rational economy.
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Each epoch has found in the Gospels what it sought to find there, and has overlooked what it wished to overlook.
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The egalitarian doctrine is manifestly contrary to all the facts established by biology and by history. Only fanatical partisans of this theory can contend that what distinguishes the genius from the dullard is entirely the effect of postnatal influences.
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Tyranny is the political corollary of socialism, as representative government is the political corollary of the market economy.
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He who acts under an emotional impulse also acts. What distinguishes an emotional action from other actions is the valuation of input and output. Emotions disarrange valuations. Inflamed with passion, man sees the goal as more desirable and the price he has to pay for it as less burdensome than he would in cool deliberation.
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No one can escape the influence of a prevailing ideology.
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Once the principle is admitted that it is the duty of the government to protect the individual against his own foolishness, no serious objections can be advanced against further encroachments.
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Only stilted pedants can conceive the idea that there are absolute norms to tell what is beautiful and what is not. They try to derive from the works of the past a code of rules with which, as they fancy, the writers and artists of the future should comply. But the genius does not cooperate with the pundit.
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