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Capitalism gave the world what it needed, a higher standard of living for a steadily increasing number of people.
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
Living
Standard
World
Capitalism
People
Standards
Gave
Number
Higher
Needed
Steadily
Numbers
Increasing
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Economic knowledge necessarily leads to liberalism
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This, then, is freedom in the external life of man-that he is independent of the arbitrary power of his fellows.
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Economics must not be relegated to classrooms and statistical offices and must not be left to esoteric circles. It is the philosophy of human life and action and concerns everybody and everything. It is the pith of civilization and of man's human existence.
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Action is an attempt to substitute a more satisfactory state of affairs for a less satisfactory one. We call such a willfully induced alteration an exchange.
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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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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 main achievement of economics is that it has provided a theory of peaceful human cooperation. This is why the harbingers of violent conflict have branded it as a dismal science and why this age of wars, civil wars, and destruction has no use for it.
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The boom is called good business, prosperity, and upswing. Its unavoidable aftermath, the readjustment of conditions to the real data of the market, is called crisis, slump, bad business, depression.
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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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War prosperity is like the prosperity that an earthquake or a plague brings.
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Value is not intrinsic, it is not in things. It is within us it is the way in which man reacts to the conditions of his environment. Neither is value in words and doctrines, it is reflected in human conduct. It is not what a man or groups of men say about value that counts, but how they act.
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The system that would stand midway between capitalism and socialism.
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Scientific criticism has no nobler task than to shatter false beliefs.
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The bureaucrat is not free to aim at improvement. He is bound to obey rules and regulations established by a superior body. He has no right to embark upon innovations if his superiors do not approve of them. His duty and his virtue is to be obedient.
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What impels every man to the utmost exertion in the service of his fellow man. Is, in the market not compulsion on the part of gendarmes, hangmen and penal courts, it is self interest.
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Government and state can never be perfect because they owe their raison d'ĂȘtre 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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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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The alcoholic and the drug addict harm only themselves by their behavior the person who violates the rules of morality governing mans life in society harms not only himself, but everyone.
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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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