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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.
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
Generation
Generations
Source
Additional
Comes
Consumed
Produced
Capital
Goods
Saving
More quotes by Ludwig von Mises
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.
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Experience shows that nothing is operated with less economy and with more waste of labor and material of every kind than public services and undertakings. Private enterprise on the other hand naturally induces the owner to work with the greatest economy in his own interest.
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Nobody can be at the same time a correct bureaucrat and an innovator
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What is needed for a sound expansion of production is additional capital goods, not money or fiduciary media. The credit expansion is built on the sands of banknotes and deposits. It must collapse.
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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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Nobody ever recommended a dictatorship aiming at ends other than those he himself approved. He who advocates dictatorship always advocates the unrestricted rule of his own will
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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 tricks and artifices of advertising are available to the seller of the better product no less than to the seller of the poorer product. But only the former enjoys the advantage derived from the better quality of his product.
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The history of mankind is the history of ideas. For it is ideas, theories, and doctrines that guide human action, determine the ultimate ends men aim at, and the choice of the means employed for the attainment of these ends.
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In talking about equality and asking vehemently for its realization, nobody advocates a curtailment of his own present income.
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The first socialists were the intellectuals they, and not the masses, are the backbone of Socialism.
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A higher standard of living also brings about a higher standard of culture and civilization.
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To the masses, the catchwords of Socialism sound so enticing... so they will continue to work for Socialism, helping thereby to bring about the inevitable decline of the civilization which the nations of the West have taken thousands of years to build up.
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The worship of the state is the worship of force. There is no more dangerous menace to civilization than a government of incompetent, corrupt, or vile men. The worst evils which mankind ever had to endure were inflicted by governments.
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There is no kind of freedom and liberty other than the kind which the market economy brings about.
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Every collectivist assumes a different source for the collective will, according to his own political, religious and national convictions.
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During the 2300 years since Plato, very little opposition has been registered to his ideas.
Ludwig von Mises
Capitalism gave the world what it needed, a higher standard of living for a steadily increasing number of people.
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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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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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