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If the government objects to monopoly prices for new inventions, it should stop granting patents.
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
Inventions
Monopoly
Prices
Invention
Objects
Stop
Government
Granting
Patents
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The market system makes all producers responsible to the consumer.
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The issue is always the same: the government or the market. There is no third solution.
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The philosophy of protectionism is a philosophy of war. The wars of our age are not at variance with popular economic doctrines they are, on the contrary, the inescapable result of a consistent application of these doctrines.
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Socialism is the renunciation of rational economy.
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Inflation is the true opium of the people and it is administered to them by anticapitalist governments and parties.
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The real bosses, in the capitalist system of market economy, are the consumers.
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The history of mankind is the history of ideas.
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In all countries with a settled bureaucracy people used to say: The cabinets come and go, but the bureaus remain.
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Is still fulfilling its social function in supplying the consumers with more, better and cheaper goods.
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A nation, therefore, has no right to say to a province: You belong to me, I want to take you. A province consists of its inhabitants. If anybody has a right to be heard in this case it is these inhabitants. Boundary disputes should be settled by plebiscite.
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The policy of letting the free market determine the height of wage rates is the only reasonable and successful full-employment policy.
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The system that would stand midway between capitalism and socialism.
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There prevails on a free labor market a tendency toward full employment.
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War can really cause no economic boom, at least not directly, since an increase in wealth never does result from destruction of goods.
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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.
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The boom is called good business, prosperity, and upswing. Its unavoidable aftermath, the readjustment of conditions to the real data of the market, is called crisis, slump, bad business, depression.
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Man is not, like the animals, an obsequious puppet of instincts and sensual impulses. Man has the power to suppress instinctive desires, he has a will of his own, he chooses between incompatible ends.
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Under capitalism everybody provides for their own needs by serving others.
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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.
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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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