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Economic progress is the work of the savers, who accumulate capital, and of the entrepreneurs, who turn capital to new uses.

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
Turns
Accumulate
Use
Entrepreneurs
Work
Uses
Capital
Entrepreneur
Progress
Turn
Economic
Savers

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War prosperity is like the prosperity that an earthquake or a plague brings.
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Permanent mass unemployment destroys the moral foundations of the social order. The young people, who, having finished their training for work, are forced to remain idle, are the ferment out of which the most radical political movements are formed. In their ranks the soldiers of the coming revolutions are recruited.
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How pale is the art of sorcerers, witches, and conjurors when compared with that of the government's Treasury Department!
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Economic control is not merely control of a sector of human life that can be separated from the rest it is the control of the means for all our ends.
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It is the rule of law alone which hinders the rulers from turning themselves into the worst gangsters.
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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.
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The continued existence of society depends upon private property.
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Many who are self-taught far excel the doctors, masters, and bachelors of the most renowned universities.
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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.
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The standard of living of the common man is higher in those countries which have the greatest number of wealthy entrepreneurs.
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The first socialists were the intellectuals they, and not the masses, are the backbone of Socialism.
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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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The truth is that most people lack the intellectual ability and courage to resist a popular movement, however pernicious and ill-considered.
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Value is not intrinsic, it is not in things. It is within us it is the way in which man reacts to the conditions of his environment. Neither is value in words and doctrines, it is reflected in human conduct. It is not what a man or groups of men say about value that counts, but how they act.
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As soon as the economic freedom which the market economy grants to its members is removed, all political liberties and bills of rights become humbug.
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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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The recurrence of periods of depression and mass unemployment has discredited capitalism in the opinion of injudicious people. Yet these events are not the outcome of the operation of the free market. They are on the contrary the result of well-intentioned but ill-advised government interference with the market.
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All those evils which the [liberals] interpret as evidence of the failure of capitalism, are the necessary outcome of interference with the market.
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The interventionist policy (big government) provides thousands and thousands of people with safe, placid, and not too strenuous jobs at the expense of the rest of society.
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The issue is always the same: the government or the market. There is no third solution.
Ludwig von Mises