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What is needed for a sound expansion of production is additional capital goods, not money or fiduciary media. The credit expansion is built on the sands of banknotes and deposits. It must collapse.
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
Built
Expansion
Needed
Collapse
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Capital
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Sand
Money
Goods
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Production
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More quotes by Ludwig von Mises
The early industrialists were for the most part men who had their origin in the same social strata from which their workers came. They lived very modestly, spent only a fraction of their earnings for their households and put the rest back into the business.
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Our whole civilization rests on the fact that men have always succeeded in beating off the attack of the re-distributors.
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The democracy of the market consists in the fact that people themselves make their choices and that no dictator has the power to force them to submit to his value judgments.
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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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Lenin's ideal was to build a nation's production effort according to the model of the post office.
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Historical knowledge is indispensable for those who want to build a better world
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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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The average American worker enjoys amenities for which Croesus, Crassus, the Medici, and Louis XIV would have envied him.
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The situation of having to belong to a state to which one does not wish is no less onerous if it is the result of an election than if one must endure it as the consequence of a military conquest.
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Progressive taxation of income and profits means that precisely those parts of the income which people would have saved and invested are taxed away
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Some experts have declared that it is necessary to tax the people until it hurts. I disagree with these sadists.
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Men are fighting one another because they are convinced that the extermination and liquidation of adversaries is the only means of promoting their own well-being.
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The root of the evil is not the construction of new, more dreadful weapons. It is the spirit of conquest.
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Resentment is at work when one so hates somebody for his more favorable circumstances that one is prepared to bear heavy losses if only the hated one might also come to harm. Many of those who attack capitalism know very well that their situation under any other economic system will be less favorable.
Ludwig von Mises
The market system is the basis of our civilization. Its only alternative is the Führer principle.
Ludwig von Mises
In life everything is continually in flux.
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Every step by which an individual substitutes concerted action for isolated action results in an immediate and recognizable improvement in his conditions. The advantages derived from peaceful cooperation and division of labor are universal.
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The main achievement of economics is that it has provided a theory of peaceful human cooperation. This is why the harbingers of violent conflict have branded it as a dismal science and why this age of wars, civil wars, and destruction has no use for it.
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Despots and democratic majorities are drunk with power.
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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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