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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
Upon
Masses
Today
Capitalism
Men
Blame
Time
Mass
Short
Demagogues
Poverty
Bestows
Common
Affluence
Rather
Blamed
More quotes by Ludwig von Mises
Thoughts and ideas are not phantoms. They are real things. Although intangible and immaterial, they are factors in bringing about changes in the realm of tangible and material things.
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While under precapitalistic conditions superior men were the masters on whom the masses of the inferior had to attend, under capitalism the more gifted and more able have no means to profit from their superiority other than to serve to the best of their abilities the wishes of the majority of the less gifted.
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The first socialists were the intellectuals they, and not the masses, are the backbone of Socialism.
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Sovereignty must not be used for inflicting harm on anyone, whether citizen or foreigner.
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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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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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What is called economic progress is the joint effect of the activities of the three progressive groups-or classes-of the savers, the scientist-inventors, and the entrepreneurs, operating in a market economy as far as it is not sabotaged by the endeavors of the nonprogressive majority of the routinists and the public policies supported by them.
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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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Not mythical material productive forces, but reason and ideas determine the course of human affairs. What is needed to stop the trend toward socialism and despotism is common-sense and moral courage.
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All this talk: the state should do this or that, ultimately means: the police should force consumers to behave otherwise than they would behave spontaneously.
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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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Only the naive inflationist's could believe that government could enrich mankind through fiat money.
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In life everything is continually in flux.
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War prosperity is like the prosperity that an earthquake or a plague brings...but no one has for those reasons yet sought to celebrate earthquakes and cholera as stimulators of the productive forces in the general interest.
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You call it a 'loophole' when the government still allows you some freedom.
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The state can be and has often been in the course of history the main source of mischief and disaster.
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The public firm can nowhere maintain itself in free competition with the private firm it is possible today only where it has a monopoly that excludes competition. Even that alone is evidence of its lesser economic productivity.
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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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True, governments can reduce the rate of interest in the short run. They can issue additional paper money. They can open the way to credit expansion by the banks. They can thus create an artificial boom and the appearance of prosperity. But such a boom is bound to collapse soon or late and to bring about a depression.
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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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