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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.
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
Extremely
Granted
Necessary
Conditions
Free
Contemporaries
Difficult
Interference
Government
Conceive
Take
Banking
More quotes by Ludwig von Mises
Big business always serve - directly or indirectly - the masses.
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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.
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Is still fulfilling its social function in supplying the consumers with more, better and cheaper goods.
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The market economy-capitalism-is a social system of consumers' supremacy.
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The main achievement of economics is that it has provided a theory of peaceful human cooperation. This is why the harbingers of violent conflict have branded it as a dismal science and why this age of wars, civil wars, and destruction has no use for it.
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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.
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Political ideas that have dominated the public mind for decades cannot be refuted through rational arguments. They must run their course in life and cannot collapse otherwise than in great catastrophe.
Ludwig von Mises
The criterion of truth is that it works even if nobody is prepared to acknowledge it.
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He who acts under an emotional impulse also acts. What distinguishes an emotional action from other actions is the valuation of input and output. Emotions disarrange valuations. Inflamed with passion, man sees the goal as more desirable and the price he has to pay for it as less burdensome than he would in cool deliberation.
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...this remedy is the power of the citizens they have to prevent the establishment of such an autocratic regime that arrogates to itself a higher wisdom than that of the average citizen. This is the fundamental difference between freedom and serfdom.
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The government and its chiefs do not have the powers of the mythical Santa Claus. They cannot spend except by taking out of the pockets of some people for the benefit of others.
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The comparatively greater prosperity of the United States is an outcome of the fact that the New Deal did not come in 1900 or 1910, but only in 1933.
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Every restriction of trade creates vested interests that are from then on opposed to its removal.
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The early industrialists were for the most part men who had their origin in the same social strata from which their workers came. They lived very modestly, spent only a fraction of their earnings for their households and put the rest back into the business.
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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
There can be no freedom in art and literature where the government determines who shall create them.
Ludwig von Mises
The policy of letting the free market determine the height of wage rates is the only reasonable and successful full-employment policy.
Ludwig von Mises
What makes the existence and the evolution of society possible is precisely the fact that peaceful cooperation under the social division of labor in the long run best serves the selfish concerns of all individuals. The eminence of the market society is that its whole functioning and operation is the consummation of this principle.
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All the talk about the so-called unspeakable horror of early capitalism can be refuted by a single statistic: precisely in these years in which British capitalism developed, precisely in the age called the Industrial Revolution in England, in the years from 1760 to 1830, precisely in those years the population of England doubled.
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Thoughts and ideas are not phantoms. They are real things. Although intangible and immaterial, they are factors in bringing about changes in the realm of tangible and material things.
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