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Government is the only institution that can take a valuable commodity like paper, and make it worthless by applying ink.

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
Valuable
Institutions
Paper
Government
Applying
Take
Ink
Make
Worthless
Like
Commodity
Institution

More quotes by Ludwig von Mises

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Under a socialist mode of production all personal incentives which selfishness provides under capitalism are removed, and a premium is put upon laziness and negligence. Whereas in a capitalist society selfishness incites everyone to the utmost diligence, in a socialist society it makes for inertia and laxity.
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The greater productivity of work under the division of labor is a unifying influence. It leads men to regard each other as comrades in a joint struggle for welfare, rather than as competitors in a struggle for existence. It makes friends out of enemies, peace out of war, society out of individuals.
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The egalitarian doctrine is manifestly contrary to all the facts established by biology and by history. Only fanatical partisans of this theory can contend that what distinguishes the genius from the dullard is entirely the effect of postnatal influences.
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The tow pillars of democratic government are the primacy of the law and the budget.
Ludwig von Mises
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The consumers suffer when the laws of the country prevent the most efficient entrepreneurs from expanding the sphere of their activities. What made some enterprises develop into big business was precisely their success in filling best the demand of the masses.
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Every socialist is a disguised dictator.
Ludwig von Mises
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The usual terminology of political language is stupid. What is 'left' and what is 'right'? Why should Hitler be 'right' and Stalin, his temporary friend, be 'left'? Who is 'reactionary' and who is 'progressive'? Reaction against an unwise policy is not to be condemned. And progress towards chaos is not to be commended.
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The prerequisite for more economic equality in the world is industrialization. And this is possible only through increased capital investment, increased capital accumulation.
Ludwig von Mises
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Fortunes cannot grow someone has to increase them.
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The masses, in their capacity as consumers, ultimately determine everybody's revenues and wealth.
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A higher standard of living also brings about a higher standard of culture and civilization.
Ludwig von Mises
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It is the rule of law alone which hinders the rulers from turning themselves into the worst gangsters.
Ludwig von Mises
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where Nietzsche's response to the equation of socialism and morality was to question the value of morality, at least as it had been customarily understood, economists like Mises and Hayek pursued a different path, one Nietzsche would never have dared to take: they made the market the very expression of morality.
Ludwig von Mises
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The market system is the basis of our civilization. Its only alternative is the Führer principle.
Ludwig von Mises
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Profits are the driving force of the market economy. The greater the profits, the better the needs of the consumers are supplied... He who serves the public best, makes the highest profits.
Ludwig von Mises
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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
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No one can escape the influence of a prevailing ideology.
Ludwig von Mises
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The productivity of social cooperation surpasses in every respect the sum total of the production of isolated individuals.
Ludwig von Mises
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It is merely a metaphor to call competition competitive war, or simply, war. The function of battle is destruction of competition, construction.
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The entrepreneur profits to the extent he has succeeded in serving the consumers better than other people have done.
Ludwig von Mises