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The market system makes all producers responsible to the consumer.
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
Consumers
Producers
Market
Responsible
System
Makes
Consumer
More quotes by Ludwig von Mises
In a battle between force and an idea, the latter always prevails.
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Laissez faire does not mean: let soulless mechanical forces operate. It means: let individuals choose how they want to cooperate in the social division of labor and let them determine what the entrepreneurs should produce.
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Inflation is an increase in the quantity of money without a corresponding increase in the demand for money, i.e., for cash holdings.
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Assistance granted to the unemployed does not dispose of unemployment. It makes it easier for the unemployed to remain idle.
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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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Liberty is always freedom from the government.
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It is impossible to understand the history of economic thought if one does not pay attention to the fact that economics as such is a challenge to the conceit of those in power.
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The planner is a potential dictator who wants to deprive all other people of the power to plan and act according to their own plans. He aims at one thing only: the exclusive absolute preeminence of his own plan.
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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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Government policies try to prevent the emergence of serious unemployment by credit expansion, i.e., inflation. The outcome was rising prices, renewed demands for higher wages and reiterated credit expansion in short, protracted inflation.
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A higher standard of living also brings about a higher standard of culture and civilization.
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The state can be and has often been in the course of history the main source of mischief and disaster.
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The first socialists were the intellectuals they, and not the masses, are the backbone of Socialism.
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It is not enough for [the investor] to know all the factors that can possibly contribute to the determination of a future event. In order to anticipate correctly they must also anticipate correctly the quantity as it were of each factor's contribution and the instant at which its contribution will become effective.
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No private enterprise will ever fall prey to bureaucratic methods of management if it is operated with the sole aim of making profit.
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What impels every man to the utmost exertion in the service of his fellow man. Is, in the market not compulsion on the part of gendarmes, hangmen and penal courts, it is self interest.
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Only the naive inflationist's could believe that government could enrich mankind through fiat money.
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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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All those evils which the [liberals] interpret as evidence of the failure of capitalism, are the necessary outcome of interference with the market.
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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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