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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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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
Business
Profit
Makes
Market
Highest
Best
Economy
Supplied
Better
Public
Profits
Needs
Greater
Serves
Freedom
Consumers
Force
Driving
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The flowering of human society depends on two factors: the intellectual power of outstanding men to conceive sound social and economic theories, and the ability of these or other men to make these ideologies palatable to the majority.
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Every socialist is a disguised dictator.
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Economic knowledge necessarily leads to liberalism
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Those fighting for free enterprise and free competition do not defend the interests of those rich today. They want a free hand left to unknown men who will be the entrepreneurs of tomorrow.
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Where there is no market economy, the best intentioned provisions of constitutions and laws remain a dead letter.
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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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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 average American worker enjoys amenities for which Croesus, Crassus, the Medici, and Louis XIV would have envied him.
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During the 2300 years since Plato, very little opposition has been registered to his ideas.
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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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Big business always serve - directly or indirectly - the masses.
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Neither the entrepreneurs nor the farmers nor the capitalists determine what has to be produced. The consumers do that.
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Political ideas that have dominated the public mind for decades cannot be refuted through rational arguments. They must run their course in life and cannot collapse otherwise than in great catastrophe.
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No one can escape the influence of a prevailing ideology.
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In the socialist commonwealth every economic change becomes an undertaking whose success can be neither appraised in advance nor later retrospectively determined. There is only groping in the dark. Socialism is the abolition of rational economy.
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In the long run even the most despotic governments with all their brutality and cruelty are no match for ideas. Eventually the ideology that has won the support of the majority will prevail and cut the ground from under the tyrant's feet. Then the oppressed many will rise in rebellion and overthrow their masters.
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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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Plato and Hitler were both the same kind of consistent socialists who planned also for the production of future socialists, the breeding and education of future members of society.
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No private enterprise will ever fall prey to bureaucratic methods of management if it is operated with the sole aim of making profit.
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Daily experience proves clearly to everybody but the most bigoted fanatics of socialism that governmental management is inefficient and wasteful.
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