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What workers must learn is that the only reason why wage rates are higher in the United States is that the per head quota of capital invested is higher.
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
Rate
Higher
Head
Quota
United
Invested
Learn
Rates
States
Wage
Reason
Capital
Must
Workers
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Reason is the main resource of man in his struggle for survival.
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He who only wishes and hopes does not interfere actively with the course of events and with the shaping of his own destiny.
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Not mythical material productive forces, but reason and ideas determine the course of human affairs. What is needed to stop the trend toward socialism and despotism is common-sense and moral courage.
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The market system is the basis of our civilization. Its only alternative is the Führer principle.
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Big business always serve - directly or indirectly - the masses.
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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 prerequisite for more economic equality in the world is industrialization. And this is possible only through increased capital investment, increased capital accumulation.
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A genius is always a teacher, never a pupil he is always self-made.
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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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Scientific research sooner or later, but inevitably, encounters something ultimately given that it cannot trace back to something else of which it would appear as the regular or necessary derivative. Scientific progress consists in pushing further back this ultimately given.
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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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The early industrialists were for the most part men who had their origin in the same social strata from which their workers came. They lived very modestly, spent only a fraction of their earnings for their households and put the rest back into the business.
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To defeat the aggressors is not enough to make peace durable. The main thing is to discard the ideology that generates war.
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It is impossible to describe any human action if one does not refer to the meaning the actor sees in the stimulus as well as in the end his response is aiming at.
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What is a loophole? If the law does not punish a definite action or does not tax a definite thing, this is not a loophole. It is simply the law.
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The productivity of social cooperation surpasses in every respect the sum total of the production of isolated individuals.
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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.
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Under capitalism everybody is the architect of his own fortune.
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The capitalist system of production is an economic democracy in which every penny gives a right to vote. The consumers are the sovereign people. The capitalists, the entrepreneurs, and the farmers are the people's mandatories. If they do not obey, if they fail to produce, at the lowest possible cost, what
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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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