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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
Market
System
Economy
Social
Supremacy
Consumers
Capitalism

More quotes by Ludwig von Mises

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What makes the existence and the evolution of society possible is precisely the fact that peaceful cooperation under the social division of labor in the long run best serves the selfish concerns of all individuals. The eminence of the market society is that its whole functioning and operation is the consummation of this principle.
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You have the courage to tell the masses what no politician told them: you are inferior and all the improvements in your conditions which you simply take for granted you owe to the effort of men who are better than you. If this be arrogance, as some of your critics observed, it is still the truth that had to said in the age of the Welfare State.
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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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Men are fighting one another because they are convinced that the extermination and liquidation of adversaries is the only means of promoting their own well-being.
Ludwig von Mises
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Tyranny is the political corollary of socialism, as representative government is the political corollary of the market economy.
Ludwig von Mises
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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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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.
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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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The truth is that most people lack the intellectual ability and courage to resist a popular movement, however pernicious and ill-considered.
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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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No very deep knowledge of economics is usually needed for grasping the immediate effects of a measure but the task of economics is to foretell the remoter effects, and so to allow us to avoid such acts as attempt to remedy a present ill by sowing the seeds of a much greater ill for the future.
Ludwig von Mises
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The masses favor socialism because they trust the socialist propaganda of the intellectuals. The intellectuals, not the populace, are molding public opinion.
Ludwig von Mises
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The government and its chiefs do not have the powers of the mythical Santa Claus. They cannot spend except by taking out of the pockets of some people for the benefit of others.
Ludwig von Mises
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Every restriction of trade creates vested interests that are from then on opposed to its removal.
Ludwig von Mises
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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.
Ludwig von Mises
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Against nature and within nature there is no freedom.
Ludwig von Mises
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If some peoples pretend that history or geography gives them the right to subjugate other races, nations, or peoples, there can be no peace.
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The inequality of income and fortunes is essential in capitalism.
Ludwig von Mises
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It is always the individual who thinks. Society does not think any more than it eats or drinks. The evolution of human reasoning from the naive thinking of primitive man to the more subtle thinking of modern science took place within society. However, thinking itself is always an achievement of individuals.
Ludwig von Mises
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The system that would stand midway between capitalism and socialism.
Ludwig von Mises