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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
Work
Uses
Capital
Entrepreneur
Progress
Turn
Economic
Savers
Turns
Accumulate
Use
Entrepreneurs
More quotes by Ludwig von Mises
It is inherent in the nature of the capitalistic economy that, in the final analysis, the employment of the factors of production is aimed only toward serving the wishes of consumers.
Ludwig von Mises
It is not enough for [the investor] to know all the factors that can possibly contribute to the determination of a future event. In order to anticipate correctly they must also anticipate correctly the quantity as it were of each factor's contribution and the instant at which its contribution will become effective.
Ludwig von Mises
The essence of democracy is not that everyone makes and administers laws but that lawgivers and rulers should be dependent on the people's will in such a way that they may be peaceably changed if conflict occurs.
Ludwig von Mises
Some think that they will exercise power for the general good, but that is what all those with power have believed. Power is evil in itself, regardless of who exercises it.
Ludwig von Mises
Progress is precisely that which rules and regulations did not foresee.
Ludwig von Mises
The system that would stand midway between capitalism and socialism.
Ludwig von Mises
Governments, political parties, pressure groups, and the bureaucrats of the educational hierarchy think they can avoid the inevitable consequences of unsuitable measures by boycotting and silencing the independent economists. But truth persists and works, even if nobody is left to utter it.
Ludwig von Mises
There is no reason why capitalists and entrepreneurs should be ashamed of earning profits.
Ludwig von Mises
Socialism is the renunciation of rational economy.
Ludwig von Mises
Every collectivist assumes a different source for the collective will, according to his own political, religious and national convictions.
Ludwig von Mises
Where there is no market economy, the best intentioned provisions of constitutions and laws remain a dead letter.
Ludwig von Mises
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.
Ludwig von Mises
If the members of parliament no longer consider themselves mandatories of the taxpayers but deputies of those receiving salaries, wages, subsidies, doles, and other benefits from the treasury, democracy is done for.
Ludwig von Mises
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
Our whole civilization rests on the fact that men have always succeeded in beating off the attack of the re-distributors.
Ludwig von Mises
Business is a means- the only means- to increase the quantity of goods available for preserving life and rendering it more agreeable.
Ludwig von Mises
Government and state can never be perfect because they owe their raison d'être to the imperfection of man and can attain their end, the elimination of man's innate impulse to violence, only by recourse to violence, the very thing they are called upon to prevent.
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
It is certain that many intellectuals envy the higher income of prosperous businessmen and that these feelings drive them toward socialism. They believe that the authorities of a socialist commonwealth would pay them higher salaries than those that they earn under capitalism.
Ludwig von Mises
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
