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Public opinion always wants easy money, that is, low interest rates.

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
Interest
Easy
Money
Rates
Always
Lows
Rate
Wants
Opinion
Public

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The planner is a potential dictator who wants to deprive all other people of the power to plan and act according to their own plans. He aims at one thing only: the exclusive absolute preeminence of his own plan.
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Experience shows that nothing is operated with less economy and with more waste of labor and material of every kind than public services and undertakings. Private enterprise on the other hand naturally induces the owner to work with the greatest economy in his own interest.
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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.
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If people do not consume their whole incomes, the non-consumed surplus can be invested, it increases the amount of capital goods available and thereby makes it possible to embark upon projects which could not be executed before.
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What is called economic progress is the joint effect of the activities of the three progressive groups-or classes-of the savers, the scientist-inventors, and the entrepreneurs, operating in a market economy as far as it is not sabotaged by the endeavors of the nonprogressive majority of the routinists and the public policies supported by them.
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What impels every man to the utmost exertion in the service of his fellow man. Is, in the market not compulsion on the part of gendarmes, hangmen and penal courts, it is self interest.
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The only source of the generation of additional capital goods is saving. If all the goods produced are consumed, no new capital comes into being.
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The socialist system, however, forbids this fundamental freedom to choose one's own career. Under socialist conditions, there is only one economic authority, and it has the right to determine all matters concerning production.
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The philosophy commonly called individualism is a philosophy of social cooperation and the progressive intensification of the social nexus.
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Big business always serve - directly or indirectly - the masses.
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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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The law-abiding citizen by his labor serves both himself and his fellow man and thereby integrates himself peacefully into the social order. The robber, on the other hand, is intent, not on honest toil, but on the forcible appropriation of the fruits of others' labor.
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The tricks and artifices of advertising are available to the seller of the better product no less than to the seller of the poorer product. But only the former enjoys the advantage derived from the better quality of his product.
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The entrepreneur profits to the extent he has succeeded in serving the consumers better than other people have done.
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The tow pillars of democratic government are the primacy of the law and the budget.
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The prevailing legal and moral views of a time are held not only by those whom they benefit but by those, too, who appear to suffer from them. Their domination is expressed in that fact- that the people from whom they claim sacrifice accept them.
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There is no other planning for freedom and general welfare than to let the market system work.
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The uncouth hordes of common men are not fit to recognize duly the merits of those who eclipse their own wretchedness.
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In the world of reality, life, and human action there is no such thing as interests independent of ideas, preceding them temporarily and logically. What a man considers his interest is the result of his ideas.
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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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