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Every government intervention [in the marketplace] creates unintended consequences, which lead to calls for further government interventions.
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
Lead
Unintended
Government
Interventions
Every
Marketplace
Intervention
Calls
Consequences
Creates
Consequence
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Business is a means- the only means- to increase the quantity of goods available for preserving life and rendering it more agreeable.
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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.
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Western civilization is based upon the libertarian principle, and all its achievements are the results of the action of free men.
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An essential point in the social philosophy of interventionism is the existence of an inexhaustible fund which can be squeezed forever. The whole system of interventionism collapses when the fountain is drained off: The Santa Clause principle liquidates itself.
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One has to recognize that science is not metaphysics, and certainly not mysticism it can never bring us the illumination and the satisfaction experienced by one enraptured in ecstasy. Science is sobriety and clarity of conception, not intoxicated vision.
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In talking about equality and asking vehemently for its realization, nobody advocates a curtailment of his own present income.
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There is no reason why capitalists and entrepreneurs should be ashamed of earning profits.
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The truth is that the government cannot give if it does not take from somebody...It is not in the power of the government to make everybody more prosperous.
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The capitalist system of production is an economic democracy in which every penny gives a right to vote. The consumers are the sovereign people. The capitalists, the entrepreneurs, and the farmers are the people's mandatories. If they do not obey, if they fail to produce, at the lowest possible cost, what
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What mankind needs today is liberation from the rule of nonsensical slogans and a return to sound reasoning.
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Economic theory has demonstrated in an irrefutable way that a prosperity created by an expansionist monetary and credit policy is illusory and must end in a slump, an economic crisis.
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It is not conclusive proof of a doctrine's correctness that its adversaries use the police, the hangman, and violent mobs to fight it. But it is a proof of the fact that those taking recourse to violent oppression are in their subconscious convinced of the untenability of their own doctrines.
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Those who disagree with the dictator's plan have no other means to carry on than to defeat the despot by force of arms.
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Nobody is in a position to decree what should make a fellow man happier.
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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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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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There is no kind of freedom and liberty other than the kind which the market economy brings about.
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The state is the only institution entitled to apply coercion and compulsion and to inflict harm upon individuals. This tremendous power cannot be abandoned to the discretion of some men, however competent and clever they may deem themselves. It is necessary to restrict its application. This is the task of the laws.
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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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