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Capital is not a free gift of God or of nature. It is the outcome of a provident restriction of consumption on the part of man. It is created and increased by saving and maintained by the abstention from dissaving.

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
Capital
Provident
Saving
Abstention
Gift
Maintained
Created
Restriction
Free
Increased
Nature
Outcome
Part
Consumption
Men
Outcomes

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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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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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Violent resistance against the power of the state is the last resort of the minority in its effort to break loose from the oppression of the majority. ... The citizen must not be so narrowly circumscribed in his activities that, if he thinks differently from those in power, his only choice is either to perish or to destroy the machinery of state.
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The uncouth hordes of common men are not fit to recognize duly the merits of those who eclipse their own wretchedness.
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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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Every specific tax, as well as the nation's whole tax system, becomes self-defeating above a certain height of the rates.
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All present-day governments are fanatically committed to an easy money policy.
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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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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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History has witnessed the failure of many endeavors to impose peace by war, cooperation by coercion, unanimity by slaughtering dissidents.... A lasting order cannot be established by bayonets.
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The usual terminology of political language is stupid. What is 'left' and what is 'right'? Why should Hitler be 'right' and Stalin, his temporary friend, be 'left'? Who is 'reactionary' and who is 'progressive'? Reaction against an unwise policy is not to be condemned. And progress towards chaos is not to be commended.
Ludwig von Mises
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It is merely a metaphor to call competition competitive war, or simply, war. The function of battle is destruction of competition, construction.
Ludwig von Mises
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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.
Ludwig von Mises
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There is no other planning for freedom and general welfare than to let the market system work.
Ludwig von Mises
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Every socialist is a disguised dictator.
Ludwig von Mises
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The masses favor socialism because they trust the socialist propaganda of the intellectuals. The intellectuals, not the populace, are molding public opinion.
Ludwig von Mises
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There can be no freedom in art and literature where the government determines who shall create them.
Ludwig von Mises
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There is no use in deceiving ourselves. American public opinion rejects the market economy, the capitalistic free enterprise system that provided the nation with the highest standard of living ever attained. Full government control of all activities of the individual is virtually the goal of both national parties.
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The main political problem is how to prevent the police power from becoming tyrannical. This is the meaning of all the struggles for liberty.
Ludwig von Mises
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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.
Ludwig von Mises