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The market economy-capitalism-is a social system of consumers' supremacy.
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
Supremacy
Consumers
Capitalism
Market
System
Economy
Social
More quotes by Ludwig von Mises
The boom squanders through malinvestment scarce factors of production and reduces the stock available through overconsumption its alleged blessings are paid for by impoverishment.
Ludwig von Mises
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.
Ludwig von Mises
Permanent mass unemployment destroys the moral foundations of the social order. The young people, who, having finished their training for work, are forced to remain idle, are the ferment out of which the most radical political movements are formed. In their ranks the soldiers of the coming revolutions are recruited.
Ludwig von Mises
Under capitalism everybody provides for their own needs by serving others.
Ludwig von Mises
In life everything is continually in flux.
Ludwig von Mises
If people do not consume their whole incomes, the non-consumed surplus can be invested, it increases the amount of capital goods available and thereby makes it possible to embark upon projects which could not be executed before.
Ludwig von Mises
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.
Ludwig von Mises
Tyranny is the political corollary of socialism, as representative government is the political corollary of the market economy.
Ludwig von Mises
Against nature and within nature there is no freedom.
Ludwig von Mises
Public opinion always wants easy money, that is, low interest rates.
Ludwig von Mises
Liberty is always freedom from the government.
Ludwig von Mises
Economic progress is the work of the savers, who accumulate capital, and of the entrepreneurs, who turn capital to new uses.
Ludwig von Mises
If, as is generally the case, the heirs are not equal to the demands which life makes on an entrepreneur, the inherited wealth rapidly vanishes.
Ludwig von Mises
The desire for an increase of wealth can be satisfied through exchange, which is the only method possible in a capitalist economy, or by violence and petition as in a militarist society, where the strong acquire by force, the weak by petitioning.
Ludwig von Mises
Daily experience proves clearly to everybody but the most bigoted fanatics of socialism that governmental management is inefficient and wasteful.
Ludwig von Mises
The capitalist system was termed capitalism not by a friend of the system, but by an individual who considered it to be the worst of all historical systems, the greatest evil that had ever befallen mankind. That man was Karl Marx.
Ludwig von Mises
Progress of any kind is always at variance with the old and established ideas and therefore with the codes inspired by them. Every step of progress is a change involving heavy risks.
Ludwig von Mises
There can be no freedom in art and literature where the government determines who shall create them.
Ludwig von Mises
Socialism is the renunciation of rational economy.
Ludwig von Mises
Nobody ever recommended a dictatorship aiming at ends other than those he himself approved. He who advocates dictatorship always advocates the unrestricted rule of his own will
Ludwig von Mises
