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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

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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
Today
Capitalism
Richest
Even
Average
Enjoys
Years
Standards
Unprecedented
Hundred
Improved
American
Wage
Family
Dreamed
Enjoy
Standard
Earners
Living
Extent
Amenities

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The inequality of income and fortunes is essential in capitalism.
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All the talk about the so-called unspeakable horror of early capitalism can be refuted by a single statistic: precisely in these years in which British capitalism developed, precisely in the age called the Industrial Revolution in England, in the years from 1760 to 1830, precisely in those years the population of England doubled.
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If some peoples pretend that history or geography gives them the right to subjugate other races, nations, or peoples, there can be no peace.
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What can prevent the coming of totalitarian socialism is only a thorough change in ideologies. What we need is an open positive endorsement of that system to which we owe all the wealth that distinguished our age from the conditions of ages gone by.
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In order to succeed in business a man does not need a degree from a school of business administration. These schools train the subalterns for routine jobs. They certainly do not train entrepreneurs.
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Some think that they will exercise power for the general good, but that is what all those with power have believed. Power is evil in itself, regardless of who exercises it.
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Only stilted pedants can conceive the idea that there are absolute norms to tell what is beautiful and what is not. They try to derive from the works of the past a code of rules with which, as they fancy, the writers and artists of the future should comply. But the genius does not cooperate with the pundit.
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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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Is still fulfilling its social function in supplying the consumers with more, better and cheaper goods.
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Changes in human conditions are brought about by the pioneering of the cleverest and most energetic men. They take the lead and the rest of mankind follows them little by little.
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Progress of any kind is always at variance with the old and established ideas and therefore with the codes inspired by them. Every step of progress is a change involving heavy risks.
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The uncouth hordes of common men are not fit to recognize duly the merits of those who eclipse their own wretchedness.
Ludwig von Mises
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There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.
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Governments, political parties, pressure groups, and the bureaucrats of the educational hierarchy think they can avoid the inevitable consequences of unsuitable measures by boycotting and silencing the independent economists. But truth persists and works, even if nobody is left to utter it.
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Those fighting for free enterprise and free competition do not defend the interests of those rich today. They want a free hand left to unknown men who will be the entrepreneurs of tomorrow.
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Government is a guarantor of liberty and is compatible with liberty only if its range is adequately restricted to the preservation of what is called economic freedom.
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The prerequisite for more economic equality in the world is industrialization. And this is possible only through increased capital investment, increased capital accumulation.
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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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Depression is the aftermath of credit expansion.
Ludwig von Mises