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If people do not consume their whole incomes, the non-consumed surplus can be invested, it increases the amount of capital goods available and thereby makes it possible to embark upon projects which could not be executed before.

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
Makes
Goods
Executed
Whole
Income
Surplus
People
Available
Invested
Projects
Consume
Increase
Thereby
Amount
Increases
Possible
Consumed
Embark
Upon
Capital
Incomes

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Education rears disciples, imitators, and routinists, not pioneers of new ideas and creative geniuses. The schools are not nurseries of progress and improvement, but conservatories of tradition and unvarying modes of thought.
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The aim of the popularization of economic studies is not to make every man an economist. The idea is to equip the citizen for his civic functions in community life.
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Despots and democratic majorities are drunk with power.
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Economic progress is the work of the savers, who accumulate capital, and of the entrepreneurs, who turn capital to new uses.
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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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Innovators and creative geniuses cannot be reared in schools. They are precisely the men who defy what the school has taught them.
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What mankind needs today is liberation from the rule of nonsensical slogans and a return to sound reasoning.
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Economic control is not merely control of a sector of human life that can be separated from the rest it is the control of the means for all our ends.
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If some peoples pretend that history or geography gives them the right to subjugate other races, nations, or peoples, there can be no peace.
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Nothing, however, is as ill founded as the assertion of the alleged equality of all members of the human race.
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Only to bureaucrats can the idea occur that establishing new offices, promulgating new decrees, and increasing the number of government employees alone can be described as positive and beneficial measures.
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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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There is no use in deceiving ourselves. American public opinion rejects the market economy, the capitalistic free enterprise system that provided the nation with the highest standard of living ever attained. Full government control of all activities of the individual is virtually the goal of both national parties.
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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 consumers suffer when the laws of the country prevent the most efficient entrepreneurs from expanding the sphere of their activities. What made some enterprises develop into big business was precisely their success in filling best the demand of the masses.
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Freedom is indivisible. As soon as one starts to restrict it, one enters upon a decline on which it is difficult to stop.
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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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The truth is that most people lack the intellectual ability and courage to resist a popular movement, however pernicious and ill-considered.
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Under capitalism everybody is the architect of his own fortune.
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