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Every innovation makes its appearance as a 'luxury' of the few well-to-do. After industry has become aware of it, the luxury then becomes a 'necessity' for all.

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
Industry
Becomes
Makes
Become
Necessity
Wells
Luxury
Well
Innovation
Every
Appearance
Aware

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The struggle for freedom is not the struggle of the many against the few, but of minorities, sometimes of a minority of but one man gainst the majority.
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Action is an attempt to substitute a more satisfactory state of affairs for a less satisfactory one. We call such a willfully induced alteration an exchange.
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The foundation of any and every civilization, including our own, is private ownership of the means of production. Whoever wishes to criticize modern civilization, therefore, begins with private property.
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There is, in fact, only one solution: the state, the government, the laws must not in any way concern themselves with schooling or education. Public funds must not be used for such purposes. The rearing and instruction of youth must be left entirely to parents and to private associations and institutions
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Some experts have declared that it is necessary to tax the people until it hurts. I disagree with these sadists.
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Depression is the aftermath of credit expansion.
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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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The living is not perfect because it is liable to change the dead is not perfect because it does not live.
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The main political problem is how to prevent the police power from becoming tyrannical. This is the meaning of all the struggles for liberty.
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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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Inflation has always been an important resource of policies of war and revolution and why we also find it in the service of socialism.
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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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It is extremely difficult for our contemporaries to conceive of the conditions of free banking because they take government interference with banking for granted and as necessary.
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Nobody ever recommended a dictatorship aiming at ends other than those he himself approved. He who advocates dictatorship always advocates the unrestricted rule of his own will
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The market and its inescapable law are supreme.
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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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All present-day governments are fanatically committed to an easy money policy.
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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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Each epoch has found in the Gospels what it sought to find there, and has overlooked what it wished to overlook.
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