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

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True, governments can reduce the rate of interest in the short run. They can issue additional paper money. They can open the way to credit expansion by the banks. They can thus create an artificial boom and the appearance of prosperity. But such a boom is bound to collapse soon or late and to bring about a depression.
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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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The final outcome of the credit expansion is general impoverishment.
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There can be no freedom in art and literature where the government determines who shall create them.
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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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In talking about equality and asking vehemently for its realization, nobody advocates a curtailment of his own present income.
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If the government objects to monopoly prices for new inventions, it should stop granting patents.
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Inflation is the true opium of the people and it is administered to them by anticapitalist governments and parties.
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Resentment is at work when one so hates somebody for his more favorable circumstances that one is prepared to bear heavy losses if only the hated one might also come to harm. Many of those who attack capitalism know very well that their situation under any other economic system will be less favorable.
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Government and state can never be perfect because they owe their raison d'être to the imperfection of man and can attain their end, the elimination of man's innate impulse to violence, only by recourse to violence, the very thing they are called upon to prevent.
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Liberty is always freedom from the government.
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The only source of the generation of additional capital goods is saving. If all the goods produced are consumed, no new capital comes into being.
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What is a loophole? If the law does not punish a definite action or does not tax a definite thing, this is not a loophole. It is simply the law.
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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.
Ludwig von Mises
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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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The masses, in their capacity as consumers, ultimately determine everybody's revenues and wealth.
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Men are fighting one another because they are convinced that the extermination and liquidation of adversaries is the only means of promoting their own well-being.
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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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Reason is the main resource of man in his struggle for survival.
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