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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.

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
Humans
Office
Esoteric
Must
Philosophy
Offices
Men
Everybody
Concerns
Life
Existence
Classroom
Action
Circles
Pith
Left
Economics
Relegated
Human
Concern
Classrooms
Everything
Civilization
Statistical

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Violent resistance against the power of the state is the last resort of the minority in its effort to break loose from the oppression of the majority. ... The citizen must not be so narrowly circumscribed in his activities that, if he thinks differently from those in power, his only choice is either to perish or to destroy the machinery of state.
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Is still fulfilling its social function in supplying the consumers with more, better and cheaper goods.
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Inflation is an increase in the quantity of money without a corresponding increase in the demand for money, i.e., for cash holdings.
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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.
Ludwig von Mises
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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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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.
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The main political problem is how to prevent the police power from becoming tyrannical. This is the meaning of all the struggles for liberty.
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.
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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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The system that would stand midway between capitalism and socialism.
Ludwig von Mises
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The real bosses, in the capitalist system of market economy, are the consumers.
Ludwig von Mises
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The mixing of politics and business not only is detrimental to politics, as is frequently observed, but even much more so to business.
Ludwig von Mises
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Public opinion always wants easy money, that is, low interest rates.
Ludwig von Mises
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Under a socialist mode of production all personal incentives which selfishness provides under capitalism are removed, and a premium is put upon laziness and negligence. Whereas in a capitalist society selfishness incites everyone to the utmost diligence, in a socialist society it makes for inertia and laxity.
Ludwig von Mises
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This dilettantish inability to comprehend the essential issues of the conduct of production affairs is not only manifested in the writings of Marx and Engels. It permeates no less the contributions of contemporary pseudo-economics.
Ludwig von Mises
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Action based on reason, action therefore which is only to be understood by reason, knows only one end, the greatest pleasure of the acting individual.
Ludwig von Mises
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The struggle for freedom is ultimately not resistance to autocrats or oligarchs but resistance to the despotism of public opinion.
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Government is the only institution that can take a valuable commodity like paper, and make it worthless by applying ink.
Ludwig von Mises
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He who serves the public best, makes the highest profits.
Ludwig von Mises