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Daily experience proves clearly to everybody but the most bigoted fanatics of socialism that governmental management is inefficient and wasteful.

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
Management
Inefficient
Prove
Wasteful
Everybody
Governmental
Experience
Fanatics
Proves
Socialism
Clearly
Daily
Bigoted

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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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The usual terminology of political language is stupid. What is 'left' and what is 'right'? Why should Hitler be 'right' and Stalin, his temporary friend, be 'left'? Who is 'reactionary' and who is 'progressive'? Reaction against an unwise policy is not to be condemned. And progress towards chaos is not to be commended.
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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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The government and its chiefs do not have the powers of the mythical Santa Claus. They cannot spend except by taking out of the pockets of some people for the benefit of others.
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Where there is no market economy, the best intentioned provisions of constitutions and laws remain a dead letter.
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Do not give in to evil, but proceed ever more boldly against it.
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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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The methods of the natural sciences cannot be applied to human behavior because this behaviorlacks the peculiarity that characterizes events in the field of the natural sciences, viz., regularity.
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The consumers are asking for, they lose their office. Their task is service to the consumer. Profit and loss are the instruments by means of which the consumers keep a tight rein on all business activities.
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The productivity of social cooperation surpasses in every respect the sum total of the production of isolated individuals.
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The sharper the competition, the better it serves its social function to improve economic production.
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The market and its inescapable law are supreme.
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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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The issue is always the same: the government or the market. There is no third solution.
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The characteristic mark of this age of dictators, wars and revolutions is its anticapitalistic bias. Most governments and political parties were eager to restrict the sphere of private initiative and free enterprise.
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Economic theory has demonstrated in an irrefutable way that a prosperity created by an expansionist monetary and credit policy is illusory and must end in a slump, an economic crisis.
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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 standard of living of the common man is higher in those countries which have the greatest number of wealthy entrepreneurs.
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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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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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