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Where there is no market economy, the best intentioned provisions of constitutions and laws remain a dead letter.

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
Constitution
Provisions
Dead
Constitutions
Economy
Provision
Law
Letter
Best
Letters
Market
Remain
Laws
Intentioned

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Plato and Hitler were both the same kind of consistent socialists who planned also for the production of future socialists, the breeding and education of future members of society.
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True, governments can reduce the rate of interest in the short run. They can issue additional paper money. They can open the way to credit expansion by the banks. They can thus create an artificial boom and the appearance of prosperity. But such a boom is bound to collapse soon or late and to bring about a depression.
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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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What workers must learn is that the only reason why wage rates are higher in the United States is that the per head quota of capital invested is higher.
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Is still fulfilling its social function in supplying the consumers with more, better and cheaper goods.
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Man is not, like the animals, an obsequious puppet of instincts and sensual impulses. Man has the power to suppress instinctive desires, he has a will of his own, he chooses between incompatible ends.
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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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Servile labour disappeared because it could not stand the competition of free labour its un-profitability sealed its doom in the market economy.
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The final outcome of the credit expansion is general impoverishment.
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Taxes are necessary. But the system of discriminatory taxation universally accepted under the misleading name of progressive taxation of income and inheritance is not a mode of taxation. It is rather a mode of disguised expropriation of the successful capitalists and entrepreneurs.
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What economic calculation requires is a monetary system whose functioning is not sabotaged by government interference.
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The Pseudo-liberals monopolize the teaching jobs at many universities. Only men who agree with them are appointed as teachers and instructors of the social sciences, and only textbooks supporting their ideas are used.
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Society is only possible on these terms, that the individual finds therein a strengthening of his own ego and his own will.
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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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Daily experience proves clearly to everybody but the most bigoted fanatics of socialism that governmental management is inefficient and wasteful.
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The first socialists were the intellectuals they, and not the masses, are the backbone of Socialism.
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If some peoples pretend that history or geography gives them the right to subjugate other races, nations, or peoples, there can be no peace.
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In the socialist commonwealth every economic change becomes an undertaking whose success can be neither appraised in advance nor later retrospectively determined. There is only groping in the dark. Socialism is the abolition of rational economy.
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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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