Quote

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

Change background

T
T
T

Change font

TAGS & TOPICS

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

More quotes by Ludwig von Mises

Image
Tyranny is the political corollary of socialism, as representative government is the political corollary of the market economy.
Ludwig von Mises
Image
The struggle for freedom is ultimately not resistance to autocrats or oligarchs but resistance to the despotism of public opinion.
Ludwig von Mises
Image
Capital does not 'beget profit' as Marx thought. The capital goods as such are dead things that in themselves do not accomplish anything. If they are utilized according to a good idea, profit results. If they are utilized according to a mistaken idea, no profit or losses result. It is the entrepreneurial decision that creates either profit or loss.
Ludwig von Mises
Image
The capitalist system of production is an economic democracy in which every penny gives a right to vote. The consumers are the sovereign people. The capitalists, the entrepreneurs, and the farmers are the people's mandatories. If they do not obey, if they fail to produce, at the lowest possible cost, what
Ludwig von Mises
Image
No one can escape the influence of a prevailing ideology.
Ludwig von Mises
Image
There is no kind of freedom and liberty other than the kind which the market economy brings about.
Ludwig von Mises
Image
The law-abiding citizen by his labor serves both himself and his fellow man and thereby integrates himself peacefully into the social order. The robber, on the other hand, is intent, not on honest toil, but on the forcible appropriation of the fruits of others' labor.
Ludwig von Mises
Image
He who only wishes and hopes does not interfere actively with the course of events and with the shaping of his own destiny.
Ludwig von Mises
Image
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.
Ludwig von Mises
Image
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.
Ludwig von Mises
Image
The continued existence of society depends upon private property.
Ludwig von Mises
Image
Value is not intrinsic, it is not in things. It is within us it is the way in which man reacts to the conditions of his environment. Neither is value in words and doctrines, it is reflected in human conduct. It is not what a man or groups of men say about value that counts, but how they act.
Ludwig von Mises
Image
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
Image
where Nietzsche's response to the equation of socialism and morality was to question the value of morality, at least as it had been customarily understood, economists like Mises and Hayek pursued a different path, one Nietzsche would never have dared to take: they made the market the very expression of morality.
Ludwig von Mises
Image
The struggle for freedom is not the struggle of the many against the few, but of minorities, sometimes of a minority of but one man gainst the majority.
Ludwig von Mises
Image
Socialism is the renunciation of rational economy.
Ludwig von Mises
Image
Capitalism has improved the standard of living of the wage earners to an unprecedented extent. The average American family enjoys today amenities of which, only a hundred years ago, not even the richest nabobs dreamed.
Ludwig von Mises
Image
The interventionist policy (big government) provides thousands and thousands of people with safe, placid, and not too strenuous jobs at the expense of the rest of society.
Ludwig von Mises
Image
In talking about equality and asking vehemently for its realization, nobody advocates a curtailment of his own present income.
Ludwig von Mises
Image
This dilettantish inability to comprehend the essential issues of the conduct of production affairs is not only manifested in the writings of Marx and Engels. It permeates no less the contributions of contemporary pseudo-economics.
Ludwig von Mises