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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.
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
Economy
Profitability
Free
Sealed
Disappeared
Doom
Labour
Competition
Market
Stand
Servile
More quotes by Ludwig von Mises
All those evils which the [liberals] interpret as evidence of the failure of capitalism, are the necessary outcome of interference with the market.
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There prevails on a free labor market a tendency toward full employment.
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Whoever wishes peace among peoples must fight statism.
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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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Nobody is in a position to decree what should make a fellow man happier.
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No one can escape the influence of a prevailing ideology.
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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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The average American worker enjoys amenities for which Croesus, Crassus, the Medici, and Louis XIV would have envied him.
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The recurrence of periods of depression and mass unemployment has discredited capitalism in the opinion of injudicious people. Yet these events are not the outcome of the operation of the free market. They are on the contrary the result of well-intentioned but ill-advised government interference with the market.
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What can prevent the coming of totalitarian socialism is only a thorough change in ideologies. What we need is an open positive endorsement of that system to which we owe all the wealth that distinguished our age from the conditions of ages gone by.
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The capitalist system, in spite of all obstacles put in its way by governments and politicians, has raised the standard of living of the masses in an unprecedented way.
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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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The truth is that most people lack the intellectual ability and courage to resist a popular movement, however pernicious and ill-considered.
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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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Lenin's ideal was to build a nation's production effort according to the model of the post office.
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Keynes did not teach us how to perform the miracle of turning a stone into bread, but the not at all miraculous procedure of eating the seed corn.
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where Nietzsche's response to the equation of socialism and morality was to question the value of morality, at least as it had been customarily understood, economists like Mises and Hayek pursued a different path, one Nietzsche would never have dared to take: they made the market the very expression of morality.
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Government and state can never be perfect because they owe their raison d'ĂȘtre to the imperfection of man and can attain their end, the elimination of man's innate impulse to violence, only by recourse to violence, the very thing they are called upon to prevent.
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The mixing of politics and business not only is detrimental to politics, as is frequently observed, but even much more so to business.
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War can really cause no economic boom, at least not directly, since an increase in wealth never does result from destruction of goods.
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