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Socialism is the renunciation of rational 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
Renunciation
Socialism
Rational
Economy

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Government is the only institution that can take a valuable commodity like paper, and make it worthless by applying ink.
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Every government intervention [in the marketplace] creates unintended consequences, which lead to calls for further government interventions.
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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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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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Progress is precisely that which rules and regulations did not foresee.
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If, as is generally the case, the heirs are not equal to the demands which life makes on an entrepreneur, the inherited wealth rapidly vanishes.
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Progress of any kind is always at variance with the old and established ideas and therefore with the codes inspired by them. Every step of progress is a change involving heavy risks.
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The philosophy commonly called individualism is a philosophy of social cooperation and the progressive intensification of the social nexus.
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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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You call it a 'loophole' when the government still allows you some freedom.
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The struggle for freedom is ultimately not resistance to autocrats or oligarchs but resistance to the despotism of public opinion.
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The state is the only institution entitled to apply coercion and compulsion and to inflict harm upon individuals. This tremendous power cannot be abandoned to the discretion of some men, however competent and clever they may deem themselves. It is necessary to restrict its application. This is the task of the laws.
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In all countries with a settled bureaucracy people used to say: The cabinets come and go, but the bureaus remain.
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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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No private enterprise will ever fall prey to bureaucratic methods of management if it is operated with the sole aim of making profit.
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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 state can be and has often been in the course of history the main source of mischief and disaster.
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Liberty is always freedom from the government.
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Those who disagree with the dictator's plan have no other means to carry on than to defeat the despot by force of arms.
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