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The gold standard makes the money's purchasing power independent of the changing, ambitions and doctrines of political parties and pressure groups. This is not a defect of the gold standard it is its main excellence.

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
Political
Standards
Defects
Power
Independent
Parties
Pressure
Standard
Gold
Excellence
Groups
Doctrine
Defect
Party
Main
Purchasing
Makes
Changing
Doctrines
Money
Ambition
Ambitions

More quotes by Ludwig von Mises

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The history of mankind is the history of ideas. For it is ideas, theories, and doctrines that guide human action, determine the ultimate ends men aim at, and the choice of the means employed for the attainment of these ends.
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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 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.
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Every specific tax, as well as the nation's whole tax system, becomes self-defeating above a certain height of the rates.
Ludwig von Mises
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There would not be any profits but for the eagerness of the public to acquire the merchandise offered for sale by the successful entrepreneur. But the same people who scramble for these articles vilify the businessman and call his profit ill-got.
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The boom squanders through malinvestment scarce factors of production and reduces the stock available through overconsumption its alleged blessings are paid for by impoverishment.
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The market is not a place, a thing, or a collective entity. The market is a process, actuated by the interplay of the actions of the various individuals cooperating under the division of labor.
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It is the rule of law alone which hinders the rulers from turning themselves into the worst gangsters.
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If you increase the quantity of money, you bring about the lowering of the purchasing power of the monetary unit.
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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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Once the principle is admitted that it is the duty of the government to protect the individual against his own foolishness, no serious objections can be advanced against further encroachments.
Ludwig von Mises
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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.
Ludwig von Mises
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A new type of superstition has got hold of people's minds, the worship of the state.
Ludwig von Mises
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Experience shows that nothing is operated with less economy and with more waste of labor and material of every kind than public services and undertakings. Private enterprise on the other hand naturally induces the owner to work with the greatest economy in his own interest.
Ludwig von Mises
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Do not give in to evil, but proceed ever more boldly against it.
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Nothing, however, is as ill founded as the assertion of the alleged equality of all members of the human race.
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Public works are not accomplished by the miraculous power of a magic wand. They are paid for by funds taken away from the citizens.
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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 step by which an individual substitutes concerted action for isolated action results in an immediate and recognizable improvement in his conditions. The advantages derived from peaceful cooperation and division of labor are universal.
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Capitalism has improved the standard of living of the wage earners to an unprecedented extent. The average American family enjoys today amenities of which, only a hundred years ago, not even the richest nabobs dreamed.
Ludwig von Mises