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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
Daily
Bigoted
Management
Inefficient
Prove
Wasteful
Everybody
Governmental
Experience
Fanatics
Proves
Socialism
Clearly
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You call it a 'loophole' when the government still allows you some freedom.
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The market and its inescapable law are supreme.
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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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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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Whoever wishes peace among peoples must fight statism.
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Government is the only institution that can take a valuable commodity like paper, and make it worthless by applying ink.
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There would not be any profits but for the eagerness of the public to acquire the merchandise offered for sale by the successful entrepreneur. But the same people who scramble for these articles vilify the businessman and call his profit ill-got.
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The flowering of human society depends on two factors: the intellectual power of outstanding men to conceive sound social and economic theories, and the ability of these or other men to make these ideologies palatable to the majority.
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The better an entrepreneur succeeds, the more is he vilified and themore is he soaked by taxation.
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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
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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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There is simply no other choice than this: either to abstain from interference in the free play of the market, or to delegate the entire management of production and distribution to the government. Either capitalism or socialism: there exists no middle way.
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Anarchism misunderstands the real nature of man. It would be practicable only in a world of angels and saints
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When we call a capitalist society a consumers democracy we mean that the power to dispose of the means of production, which belongs to the entrepreneurs and capitalists, can only be acquired by means of the consumers ballot, held daily in the marketplace.
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Action based on reason, action therefore which is only to be understood by reason, knows only one end, the greatest pleasure of the acting individual.
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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.
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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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Two hundred years ago, before the advent of capitalism, a man's social status was fixed from the beginning to the end of his life he inherited it from his ancestors and it never changed.
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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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There is no kind of freedom and liberty other than the kind which the market economy brings about.
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