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The inequality of income and fortunes is essential in capitalism.

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
Income
Essential
Capitalism
Essentials
Fortune
Fortunes
Inequality

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No very deep knowledge of economics is usually needed for grasping the immediate effects of a measure but the task of economics is to foretell the remoter effects, and so to allow us to avoid such acts as attempt to remedy a present ill by sowing the seeds of a much greater ill for the future.
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You have the courage to tell the masses what no politician told them: you are inferior and all the improvements in your conditions which you simply take for granted you owe to the effort of men who are better than you. If this be arrogance, as some of your critics observed, it is still the truth that had to said in the age of the Welfare State.
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As soon as the economic freedom which the market economy grants to its members is removed, all political liberties and bills of rights become humbug.
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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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Public works are not accomplished by the miraculous power of a magic wand. They are paid for by funds taken away from the citizens.
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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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Do the American voters know that the unprecedented improvement in their standard of living that the last hundred years brought was the result of the steady rise in the per-head quota of capital invested? Do they realize that every measure leading to capital decumulation jeopardizes their prosperity?
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Big business always serve - directly or indirectly - the masses.
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Capital is not a free gift of God or of nature. It is the outcome of a provident restriction of consumption on the part of man. It is created and increased by saving and maintained by the abstention from dissaving.
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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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A higher standard of living also brings about a higher standard of culture and civilization.
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Under capitalism everybody provides for their own needs by serving others.
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Society is only possible on these terms, that the individual finds therein a strengthening of his own ego and his own will.
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Once the principle is admitted that it is the duty of the government to protect the individual against his own foolishness, no serious objections can be advanced against further encroachments.
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Capitalists have the tendency to move toward those countries in which there is plenty of labor available and at which labor is reasonable. And by the fact that they bring capital into these countries, they bring about a trend toward higher wage rates.
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Business is a means- the only means- to increase the quantity of goods available for preserving life and rendering it more agreeable.
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It is certain that many intellectuals envy the higher income of prosperous businessmen and that these feelings drive them toward socialism. They believe that the authorities of a socialist commonwealth would pay them higher salaries than those that they earn under capitalism.
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The egalitarian doctrine is manifestly contrary to all the facts established by biology and by history. Only fanatical partisans of this theory can contend that what distinguishes the genius from the dullard is entirely the effect of postnatal influences.
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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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The criterion of truth is that it works even if nobody is prepared to acknowledge it.
Ludwig von Mises