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A short time ago the demagogues blamed capitalism for the poverty of the masses. Today they rather blame capitalism for the affluence that it bestows upon the common man.
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
Rather
Blamed
Upon
Masses
Today
Capitalism
Men
Blame
Time
Mass
Short
Demagogues
Poverty
Bestows
Common
Affluence
More quotes by Ludwig von Mises
He who only wishes and hopes does not interfere actively with the course of events and with the shaping of his own destiny.
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Do the American voters know that the unprecedented improvement in their standard of living that the last hundred years brought was the result of the steady rise in the per-head quota of capital invested? Do they realize that every measure leading to capital decumulation jeopardizes their prosperity?
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Every socialist is a disguised dictator.
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Aggressors cannot wage total war without introducing Socialism.
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All those evils which the [liberals] interpret as evidence of the failure of capitalism, are the necessary outcome of interference with the market.
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It is inherent in the nature of the capitalistic economy that, in the final analysis, the employment of the factors of production is aimed only toward serving the wishes of consumers.
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Planning other people's actions means to prevent them from planning for themselves, means to deprive them of their essentially human quality, means enslaving them.
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Every man aims at avoiding what causes him pain the activities of government ultimately consist in the infliction of pain. All great achievements of mankind were the product of a spontaneous effort on the part of individuals government substitutes coercion for voluntary action.
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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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Mankind does not drink alcohol because there are breweries, distilleries, and vineyards men brew beer, distill spirits, and grow grapes because of the demand for alcoholic drinks.
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The struggle for freedom is ultimately not resistance to autocrats or oligarchs but resistance to the despotism of public opinion.
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If the members of parliament no longer consider themselves mandatories of the taxpayers but deputies of those receiving salaries, wages, subsidies, doles, and other benefits from the treasury, democracy is done for.
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The entrepreneur profits to the extent he has succeeded in serving the consumers better than other people have done.
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There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.
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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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Political ideas that have dominated the public mind for decades cannot be refuted through rational arguments. They must run their course in life and cannot collapse otherwise than in great catastrophe.
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The situation of having to belong to a state to which one does not wish is no less onerous if it is the result of an election than if one must endure it as the consequence of a military conquest.
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What is needed for a sound expansion of production is additional capital goods, not money or fiduciary media. The credit expansion is built on the sands of banknotes and deposits. It must collapse.
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Changes in human conditions are brought about by the pioneering of the cleverest and most energetic men. They take the lead and the rest of mankind follows them little by little.
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A higher standard of living also brings about a higher standard of culture and civilization.
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