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There prevails on a free labor market a tendency toward full employment.
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
Toward
Full
Free
Prevails
Employment
Tendency
Tendencies
Market
Labor
More quotes by Ludwig von Mises
No one can escape the influence of a prevailing ideology.
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In life everything is continually in flux.
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Economic knowledge necessarily leads to liberalism
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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.
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Every restriction of trade creates vested interests that are from then on opposed to its removal.
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The public firm can nowhere maintain itself in free competition with the private firm it is possible today only where it has a monopoly that excludes competition. Even that alone is evidence of its lesser economic productivity.
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The desire for an increase of wealth can be satisfied through exchange, which is the only method possible in a capitalist economy, or by violence and petition as in a militarist society, where the strong acquire by force, the weak by petitioning.
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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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Action based on reason, action therefore which is only to be understood by reason, knows only one end, the greatest pleasure of the acting individual.
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The only source of the generation of additional capital goods is saving. If all the goods produced are consumed, no new capital comes into being.
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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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What makes the existence and the evolution of society possible is precisely the fact that peaceful cooperation under the social division of labor in the long run best serves the selfish concerns of all individuals. The eminence of the market society is that its whole functioning and operation is the consummation of this principle.
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Governments, political parties, pressure groups, and the bureaucrats of the educational hierarchy think they can avoid the inevitable consequences of unsuitable measures by boycotting and silencing the independent economists. But truth persists and works, even if nobody is left to utter it.
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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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During the 2300 years since Plato, very little opposition has been registered to his ideas.
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The policy of letting the free market determine the height of wage rates is the only reasonable and successful full-employment policy.
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The market system is the basis of our civilization. Its only alternative is the Führer principle.
Ludwig von Mises
Is still fulfilling its social function in supplying the consumers with more, better and cheaper goods.
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The gold standard makes the money's purchasing power independent of the changing, ambitions and doctrines of political parties and pressure groups. This is not a defect of the gold standard it is its main excellence.
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The prevailing legal and moral views of a time are held not only by those whom they benefit but by those, too, who appear to suffer from them. Their domination is expressed in that fact- that the people from whom they claim sacrifice accept them.
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