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It is the rule of law alone which hinders the rulers from turning themselves into the worst gangsters.
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
Gangsters
Hinder
Rulers
Turning
Rule
Worst
Alone
Law
Hinders
More quotes by Ludwig von Mises
This, then, is freedom in the external life of man-that he is independent of the arbitrary power of his fellows.
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What vitiates entirely the socialists economic critique of capitalism is their failure to grasp the sovereignty of the consumers in the market economy.
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The tow pillars of democratic government are the primacy of the law and the budget.
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Socialism is the renunciation of rational economy.
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The uncouth hordes of common men are not fit to recognize duly the merits of those who eclipse their own wretchedness.
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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.
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The common man is the sovereign consumer whose buying or abstention from buying ultimately determines what should be produced and in what quantity and quality.
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The worship of the state is the worship of force. There is no more dangerous menace to civilization than a government of incompetent, corrupt, or vile men. The worst evils which mankind ever had to endure were inflicted by governments.
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The most successful businessmen were often uneducated when measured by the scholastic standards of the teaching profession. But they were equal to their social function of adjusting production to the most urgent demand. Because of these merits the consumers chose them for business leadership.
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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.
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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.
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The continued existence of society depends upon private property.
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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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The living is not perfect because it is liable to change the dead is not perfect because it does not live.
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Depression is the aftermath of credit expansion.
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It is extremely difficult for our contemporaries to conceive of the conditions of free banking because they take government interference with banking for granted and as necessary.
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The capitalist system, in spite of all obstacles put in its way by governments and politicians, has raised the standard of living of the masses in an unprecedented way.
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Tyranny is the political corollary of socialism, as representative government is the political corollary of the market economy.
Ludwig von Mises
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
The boom squanders through malinvestment scarce factors of production and reduces the stock available through overconsumption its alleged blessings are paid for by impoverishment.
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