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There is no other planning for freedom and general welfare than to let the market system work.

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
Planning
Welfare
Market
General
System
Freedom
Work

More quotes by Ludwig von Mises

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Under capitalism everybody provides for their own needs by serving others.
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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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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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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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The standard of living of the common man is higher in those countries which have the greatest number of wealthy entrepreneurs.
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Violent resistance against the power of the state is the last resort of the minority in its effort to break loose from the oppression of the majority. ... The citizen must not be so narrowly circumscribed in his activities that, if he thinks differently from those in power, his only choice is either to perish or to destroy the machinery of state.
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A society that chooses between capitalism and socialism does not choose between two social systems it chooses between social cooperation and the disintegration of society. Socialism is not an alternative to capitalism it is an alternative to any system under which men can live as human beings.
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The sharper the competition, the better it serves its social function to improve economic production.
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All people, entrepreneurs as well as non-entrepreneurs, look askance upon any profits earned by other people. Envy is a common weakness of men. People are loath to acknowledge the fact that they themselves could have earned profits if they had displayed the same foresight and judgment the successful businessman did.
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War prosperity is like the prosperity that an earthquake or a plague brings.
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Mankind does not drink alcohol because there are breweries, distilleries, and vineyards men brew beer, distill spirits, and grow grapes because of the demand for alcoholic drinks.
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If, as is generally the case, the heirs are not equal to the demands which life makes on an entrepreneur, the inherited wealth rapidly vanishes.
Ludwig von Mises
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Every government intervention [in the marketplace] creates unintended consequences, which lead to calls for further government interventions.
Ludwig von Mises
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Nobody is in a position to decree what should make a fellow man happier.
Ludwig von Mises
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Historical knowledge is indispensable for those who want to build a better world
Ludwig von Mises
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Those who disagree with the dictator's plan have no other means to carry on than to defeat the despot by force of arms.
Ludwig von Mises
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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.
Ludwig von Mises
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The socialist system, however, forbids this fundamental freedom to choose one's own career. Under socialist conditions, there is only one economic authority, and it has the right to determine all matters concerning production.
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Economic theory has demonstrated in an irrefutable way that a prosperity created by an expansionist monetary and credit policy is illusory and must end in a slump, an economic crisis.
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In the world of reality, life, and human action there is no such thing as interests independent of ideas, preceding them temporarily and logically. What a man considers his interest is the result of his ideas.
Ludwig von Mises