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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.

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
Process
Entity
Place
Collective
Thing
Division
Individuals
Actions
Actuated
Various
Interplay
Market
Cooperating
Labor
Collectives

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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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Man is born an asocial and antisocial being. The newborn child is a savage. Egoism is his nature. Only the experience of life and the teachings of his parents, his brothers, sisters, playmates, and later of other people FORCE HIM to acknowledge the advantages of social cooperation and accordingly to change his behavior.
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The state can be and has often been in the course of history the main source of mischief and disaster.
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The aim of the popularization of economic studies is not to make every man an economist. The idea is to equip the citizen for his civic functions in community life.
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Keynes did not teach us how to perform the miracle of turning a stone into bread, but the not at all miraculous procedure of eating the seed corn.
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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.
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The system that would stand midway between capitalism and socialism.
Ludwig von Mises
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The better an entrepreneur succeeds, the more is he vilified and themore is he soaked by taxation.
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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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Depression is the aftermath of credit expansion.
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The inequality of income and fortunes is essential in capitalism.
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A society that chooses between capitalism and socialism does not choose between two social systems it chooses between social cooperation and the disintegration of society. Socialism is not an alternative to capitalism it is an alternative to any system under which men can live as human beings.
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The only source of the generation of additional capital goods is saving. If all the goods produced are consumed, no new capital comes into being.
Ludwig von Mises
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What can prevent the coming of totalitarian socialism is only a thorough change in ideologies. What we need is an open positive endorsement of that system to which we owe all the wealth that distinguished our age from the conditions of ages gone by.
Ludwig von Mises
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All those evils which the [liberals] interpret as evidence of the failure of capitalism, are the necessary outcome of interference with the market.
Ludwig von Mises
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All present-day governments are fanatically committed to an easy money policy.
Ludwig von Mises
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Education rears disciples, imitators, and routinists, not pioneers of new ideas and creative geniuses. The schools are not nurseries of progress and improvement, but conservatories of tradition and unvarying modes of thought.
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...this remedy is the power of the citizens they have to prevent the establishment of such an autocratic regime that arrogates to itself a higher wisdom than that of the average citizen. This is the fundamental difference between freedom and serfdom.
Ludwig von Mises
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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.
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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