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The market system is the basis of our civilization. Its only alternative is the Führer principle.

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
System
Alternative
Alternatives
Basis
Bases
Principle
Market
Civilization
Principles
Hrer

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Science does not give us absolute and final certainty. It only gives us assurance within the limits of our mental abilities and the prevailing state of scientific thought.
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Each epoch has found in the Gospels what it sought to find there, and has overlooked what it wished to overlook.
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The salesman thanks the customer for patronizing his shop and asks him to come again. But the socialists say: Be grateful to Hitler, render thanks to Stalin be nice and submissive, then the great man will be kind to you later too.
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In a game there are winners and losers. But a business deal is always advantageous for both parties. If both the buyer and the seller were not to consider the transaction as the most advantageous action they could choose under the prevailing conditions, they would not enter into the deal.
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The foundation of any and every civilization, including our own, is private ownership of the means of production. Whoever wishes to criticize modern civilization, therefore, begins with private property.
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Value is not intrinsic, it is not in things. It is within us it is the way in which man reacts to the conditions of his environment. Neither is value in words and doctrines, it is reflected in human conduct. It is not what a man or groups of men say about value that counts, but how they act.
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Assistance granted to the unemployed does not dispose of unemployment. It makes it easier for the unemployed to remain idle.
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To the masses, the catchwords of Socialism sound so enticing... so they will continue to work for Socialism, helping thereby to bring about the inevitable decline of the civilization which the nations of the West have taken thousands of years to build up.
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The average American worker enjoys amenities for which Croesus, Crassus, the Medici, and Louis XIV would have envied him.
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Is still fulfilling its social function in supplying the consumers with more, better and cheaper goods.
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Government policies try to prevent the emergence of serious unemployment by credit expansion, i.e., inflation. The outcome was rising prices, renewed demands for higher wages and reiterated credit expansion in short, protracted inflation.
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Laissez faire does not mean: let soulless mechanical forces operate. It means: let individuals choose how they want to cooperate in the social division of labor and let them determine what the entrepreneurs should produce.
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Man is born an asocial and antisocial being. The newborn child is a savage. Egoism is his nature. Only the experience of life and the teachings of his parents, his brothers, sisters, playmates, and later of other people FORCE HIM to acknowledge the advantages of social cooperation and accordingly to change his behavior.
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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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Do the American voters know that the unprecedented improvement in their standard of living that the last hundred years brought was the result of the steady rise in the per-head quota of capital invested? Do they realize that every measure leading to capital decumulation jeopardizes their prosperity?
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Depression is the aftermath of credit expansion.
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If you increase the quantity of money, you bring about the lowering of the purchasing power of the monetary unit.
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Competition on the market aims at assigning to every individual that function in the social system in which he can render to all his fellow men the most valuable of the services he is able to perform.
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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 dilettantish inability to comprehend the essential issues of the conduct of production affairs is not only manifested in the writings of Marx and Engels. It permeates no less the contributions of contemporary pseudo-economics.
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