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Historical knowledge is indispensable for those who want to build a better world

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
Indispensable
Historical
Build
Knowledge
Better
World

More quotes by Ludwig von Mises

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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
Ludwig von Mises
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The struggle for freedom is not the struggle of the many against the few, but of minorities, sometimes of a minority of but one man gainst the majority.
Ludwig von Mises
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Capital does not 'beget profit' as Marx thought. The capital goods as such are dead things that in themselves do not accomplish anything. If they are utilized according to a good idea, profit results. If they are utilized according to a mistaken idea, no profit or losses result. It is the entrepreneurial decision that creates either profit or loss.
Ludwig von Mises
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Government policies try to prevent the emergence of serious unemployment by credit expansion, i.e., inflation. The outcome was rising prices, renewed demands for higher wages and reiterated credit expansion in short, protracted inflation.
Ludwig von Mises
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What impels every man to the utmost exertion in the service of his fellow man. Is, in the market not compulsion on the part of gendarmes, hangmen and penal courts, it is self interest.
Ludwig von Mises
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Anarchism misunderstands the real nature of man. It would be practicable only in a world of angels and saints
Ludwig von Mises
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He who disdains the fall in infant mortality and the gradual disappearance of famines and plagues may cast the first stone upon the materialism of the economists.
Ludwig von Mises
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The foundation of any and every civilization, including our own, is private ownership of the means of production. Whoever wishes to criticize modern civilization, therefore, begins with private property.
Ludwig von Mises
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In the world of reality, life, and human action there is no such thing as interests independent of ideas, preceding them temporarily and logically. What a man considers his interest is the result of his ideas.
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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Men are fighting one another because they are convinced that the extermination and liquidation of adversaries is the only means of promoting their own well-being.
Ludwig von Mises
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In order to succeed in business a man does not need a degree from a school of business administration. These schools train the subalterns for routine jobs. They certainly do not train entrepreneurs.
Ludwig von Mises
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The history of mankind is the history of ideas.
Ludwig von Mises
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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.
Ludwig von Mises
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Socialism is the renunciation of rational economy.
Ludwig von Mises
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The masses favor socialism because they trust the socialist propaganda of the intellectuals. The intellectuals, not the populace, are molding public opinion.
Ludwig von Mises
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There is no reason why capitalists and entrepreneurs should be ashamed of earning profits.
Ludwig von Mises
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Despots and democratic majorities are drunk with power.
Ludwig von Mises
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The government pretends to be endowed with the mystical power to accord favors out of an inexhaustible horn of plenty. It is both omniscient and omnipotent. It can by a magic wand create happiness and abundance. The truth is the government cannot give if it does not take from somebody.
Ludwig von Mises
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The greater productivity of work under the division of labor is a unifying influence. It leads men to regard each other as comrades in a joint struggle for welfare, rather than as competitors in a struggle for existence. It makes friends out of enemies, peace out of war, society out of individuals.
Ludwig von Mises