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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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The most successful businessmen were often uneducated when measured by the scholastic standards of the teaching profession. But they were equal to their social function of adjusting production to the most urgent demand. Because of these merits the consumers chose them for business leadership.
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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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He who acts under an emotional impulse also acts. What distinguishes an emotional action from other actions is the valuation of input and output. Emotions disarrange valuations. Inflamed with passion, man sees the goal as more desirable and the price he has to pay for it as less burdensome than he would in cool deliberation.
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What is a loophole? If the law does not punish a definite action or does not tax a definite thing, this is not a loophole. It is simply the law.
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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Permanent mass unemployment destroys the moral foundations of the social order. The young people, who, having finished their training for work, are forced to remain idle, are the ferment out of which the most radical political movements are formed. In their ranks the soldiers of the coming revolutions are recruited.
Ludwig von Mises
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Every government intervention [in the marketplace] creates unintended consequences, which lead to calls for further government interventions.
Ludwig von Mises
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All varieties of interference with the market phenomena not only fail to achieve the ends aimed at by their authors and supporters, but bring about a state of affairs which - from the point of view of their authors and advocates valuations - is less desirable than the previous state of affairs which they were designed to alter.
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The methods of the natural sciences cannot be applied to human behavior because this behaviorlacks the peculiarity that characterizes events in the field of the natural sciences, viz., regularity.
Ludwig von Mises
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What impels every man to the utmost exertion in the service of his fellow man. Is, in the market not compulsion on the part of gendarmes, hangmen and penal courts, it is self interest.
Ludwig von Mises
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Some experts have declared that it is necessary to tax the people until it hurts. I disagree with these sadists.
Ludwig von Mises
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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.
Ludwig von Mises
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Business is a means- the only means- to increase the quantity of goods available for preserving life and rendering it more agreeable.
Ludwig von Mises
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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.
Ludwig von Mises
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Every collectivist assumes a different source for the collective will, according to his own political, religious and national convictions.
Ludwig von Mises
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As the prosperity of the nation and the height of wage rates depend on a continual increase in the capital invested in its plants, mines and farms, it is one of the foremost tasks of good government to remove all obstacles that hinder the accumulation and investment of new capital.
Ludwig von Mises
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All this talk: the state should do this or that, ultimately means: the police should force consumers to behave otherwise than they would behave spontaneously.
Ludwig von Mises
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Big business always serve - directly or indirectly - the masses.
Ludwig von Mises
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Under capitalism everybody is the architect of his own fortune.
Ludwig von Mises
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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.
Ludwig von Mises