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All those evils which the [liberals] interpret as evidence of the failure of capitalism, are the necessary outcome of interference with the market.
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
Outcome
Outcomes
Capitalism
Market
Evidence
Interference
Necessary
Interpret
Failure
Evils
Evil
Liberals
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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.
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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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Government is a guarantor of liberty and is compatible with liberty only if its range is adequately restricted to the preservation of what is called economic freedom.
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The genuine history of mankind is the history of ideas. It is ideas that distinguish man from all other beings. Ideas engender social institutions, political changes, technologi- cal methods of production, and all that is called economic conditions.
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The boom is called good business, prosperity, and upswing. Its unavoidable aftermath, the readjustment of conditions to the real data of the market, is called crisis, slump, bad business, depression.
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The planner is a potential dictator who wants to deprive all other people of the power to plan and act according to their own plans. He aims at one thing only: the exclusive absolute preeminence of his own plan.
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As soon as the economic freedom which the market economy grants to its members is removed, all political liberties and bills of rights become humbug.
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All people, entrepreneurs as well as non-entrepreneurs, look askance upon any profits earned by other people. Envy is a common weakness of men. People are loath to acknowledge the fact that they themselves could have earned profits if they had displayed the same foresight and judgment the successful businessman did.
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Fortunes cannot grow someone has to increase them.
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Inflation is the true opium of the people and it is administered to them by anticapitalist governments and parties.
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Scientific criticism has no nobler task than to shatter false beliefs.
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While under precapitalistic conditions superior men were the masters on whom the masses of the inferior had to attend, under capitalism the more gifted and more able have no means to profit from their superiority other than to serve to the best of their abilities the wishes of the majority of the less gifted.
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The market is not a place, a thing, or a collective entity. The market is a process, actuated by the interplay of the actions of the various individuals cooperating under the division of labor.
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It is always the individual who thinks. Society does not think any more than it eats or drinks. The evolution of human reasoning from the naive thinking of primitive man to the more subtle thinking of modern science took place within society. However, thinking itself is always an achievement of individuals.
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Western civilization is based upon the libertarian principle, and all its achievements are the results of the action of free men.
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If you increase the quantity of money, you bring about the lowering of the purchasing power of the monetary unit.
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Taxes are necessary. But the system of discriminatory taxation universally accepted under the misleading name of progressive taxation of income and inheritance is not a mode of taxation. It is rather a mode of disguised expropriation of the successful capitalists and entrepreneurs.
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The common man is the sovereign consumer whose buying or abstention from buying ultimately determines what should be produced and in what quantity and quality.
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Nobody can be at the same time a correct bureaucrat and an innovator
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As the science of economics...exploded the fallacies of every brand of utopianism, it was outlawed and stigmatized as unscientific.
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