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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
Government
Conceive
Take
Banking
Extremely
Granted
Necessary
Conditions
Free
Contemporaries
Difficult
Interference
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The market and its inescapable law are supreme.
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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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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.
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Economic knowledge necessarily leads to liberalism
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There would not be any profits but for the eagerness of the public to acquire the merchandise offered for sale by the successful entrepreneur. But the same people who scramble for these articles vilify the businessman and call his profit ill-got.
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Every collectivist assumes a different source for the collective will, according to his own political, religious and national convictions.
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In life everything is continually in flux.
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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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Nothing, however, is as ill founded as the assertion of the alleged equality of all members of the human race.
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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.
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A new type of superstition has got hold of people's minds, the worship of the state.
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The productivity of social cooperation surpasses in every respect the sum total of the production of isolated individuals.
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If the government objects to monopoly prices for new inventions, it should stop granting patents.
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The market is not a place, a thing, or a collective entity. The market is a process, actuated by the interplay of the actions of the various individuals cooperating under the division of labor.
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Planning other people's actions means to prevent them from planning for themselves, means to deprive them of their essentially human quality, means enslaving them.
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Changes in human conditions are brought about by the pioneering of the cleverest and most energetic men. They take the lead and the rest of mankind follows them little by little.
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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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Big business always serve - directly or indirectly - the masses.
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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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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.
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