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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
Consumers
Capitalism
Function
Social
Stills
Supplying
Still
Cheaper
Better
Fulfilling
Goods
More quotes by Ludwig von Mises
Against nature and within nature there is no freedom.
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If the government objects to monopoly prices for new inventions, it should stop granting patents.
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The prerequisite for more economic equality in the world is industrialization. And this is possible only through increased capital investment, increased capital accumulation.
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It is impossible to understand the history of economic thought if one does not pay attention to the fact that economics as such is a challenge to the conceit of those in power.
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How pale is the art of sorcerers, witches, and conjurors when compared with that of the government's Treasury Department!
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In a game there are winners and losers. But a business deal is always advantageous for both parties. If both the buyer and the seller were not to consider the transaction as the most advantageous action they could choose under the prevailing conditions, they would not enter into the deal.
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The capitalist system of production is an economic democracy in which every penny gives a right to vote. The consumers are the sovereign people. The capitalists, the entrepreneurs, and the farmers are the people's mandatories. If they do not obey, if they fail to produce, at the lowest possible cost, what
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War prosperity is like the prosperity that an earthquake or a plague brings.
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Society is only possible on these terms, that the individual finds therein a strengthening of his own ego and his own will.
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Education rears disciples, imitators, and routinists, not pioneers of new ideas and creative geniuses. The schools are not nurseries of progress and improvement, but conservatories of tradition and unvarying modes of thought.
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To defeat the aggressors is not enough to make peace durable. The main thing is to discard the ideology that generates war.
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The history of mankind is the history of ideas.
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Marx and Engels openly declared that the progressive income tax and the death tax are 'economically untenable' and that they advocated them only because 'they necessitate further inroads' upon the capitalist system and are 'unavoidable' as a means of bringing about socialism.
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Inflation is an increase in the quantity of money without a corresponding increase in the demand for money, i.e., for cash holdings.
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Government policies try to prevent the emergence of serious unemployment by credit expansion, i.e., inflation. The outcome was rising prices, renewed demands for higher wages and reiterated credit expansion in short, protracted inflation.
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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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Violent resistance against the power of the state is the last resort of the minority in its effort to break loose from the oppression of the majority. ... The citizen must not be so narrowly circumscribed in his activities that, if he thinks differently from those in power, his only choice is either to perish or to destroy the machinery of state.
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Government is the only institution that can take a valuable commodity like paper, and make it worthless by applying ink.
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Competition on the market aims at assigning to every individual that function in the social system in which he can render to all his fellow men the most valuable of the services he is able to perform.
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The flowering of human society depends on two factors: the intellectual power of outstanding men to conceive sound social and economic theories, and the ability of these or other men to make these ideologies palatable to the majority.
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