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The democracy of the market consists in the fact that people themselves make their choices and that no dictator has the power to force them to submit to his value judgments.

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
Make
Value
People
Democracy
Choices
Judgments
Values
Dictator
Fact
Submit
Force
Consists
Facts
Market
Power
Judgment

More quotes by Ludwig von Mises

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Economics must not be relegated to classrooms and statistical offices and must not be left to esoteric circles. It is the philosophy of human life and action and concerns everybody and everything. It is the pith of civilization and of man's human existence.
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The main political problem is how to prevent the police power from becoming tyrannical. This is the meaning of all the struggles for liberty.
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Thoughts and ideas are not phantoms. They are real things. Although intangible and immaterial, they are factors in bringing about changes in the realm of tangible and material things.
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There is, in fact, only one solution: the state, the government, the laws must not in any way concern themselves with schooling or education. Public funds must not be used for such purposes. The rearing and instruction of youth must be left entirely to parents and to private associations and institutions
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Is still fulfilling its social function in supplying the consumers with more, better and cheaper goods.
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Some experts have declared that it is necessary to tax the people until it hurts. I disagree with these sadists.
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Against nature and within nature there is no freedom.
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Action based on reason, action therefore which is only to be understood by reason, knows only one end, the greatest pleasure of the acting individual.
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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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Anarchism misunderstands the real nature of man. It would be practicable only in a world of angels and saints
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There is simply no other choice than this: either to abstain from interference in the free play of the market, or to delegate the entire management of production and distribution to the government. Either capitalism or socialism: there exists no middle way.
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.
Ludwig von Mises
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To the grumbler who complains about the unfairness of the market system only one piece of advice can be given: If you want to acquire wealth, then try to satisfy the public by offering them something that is cheaper or which they like better....Equality under the law gives you the power to challenge every millionaire.
Ludwig von Mises
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The market economy-capitalism-is a social system of consumers' supremacy.
Ludwig von Mises
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Mankind does not drink alcohol because there are breweries, distilleries, and vineyards men brew beer, distill spirits, and grow grapes because of the demand for alcoholic drinks.
Ludwig von Mises
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There is no other planning for freedom and general welfare than to let the market system work.
Ludwig von Mises
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Many who are self-taught far excel the doctors, masters, and bachelors of the most renowned universities.
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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.
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The state is the only institution entitled to apply coercion and compulsion and to inflict harm upon individuals. This tremendous power cannot be abandoned to the discretion of some men, however competent and clever they may deem themselves. It is necessary to restrict its application. This is the task of the laws.
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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.
Ludwig von Mises