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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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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
Case
Demand
Vanishes
Equal
Heirs
Cases
Inherited
Wealth
Rapidly
Makes
Demands
Life
Entrepreneur
Generally
More quotes by Ludwig von Mises
The market economy-capitalism-is a social system of consumers' supremacy.
Ludwig von Mises
To the grumbler who complains about the unfairness of the market system only one piece of advice can be given: If you want to acquire wealth, then try to satisfy the public by offering them something that is cheaper or which they like better....Equality under the law gives you the power to challenge every millionaire.
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Assistance granted to the unemployed does not dispose of unemployment. It makes it easier for the unemployed to remain idle.
Ludwig von Mises
Inflation is the true opium of the people and it is administered to them by anticapitalist governments and parties.
Ludwig von Mises
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.
Ludwig von Mises
The state can be and has often been in the course of history the main source of mischief and disaster.
Ludwig von Mises
The masses favor socialism because they trust the socialist propaganda of the intellectuals. The intellectuals, not the populace, are molding public opinion.
Ludwig von Mises
The flowering of human society depends on two factors: the intellectual power of outstanding men to conceive sound social and economic theories, and the ability of these or other men to make these ideologies palatable to the majority.
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Daily experience proves clearly to everybody but the most bigoted fanatics of socialism that governmental management is inefficient and wasteful.
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What vitiates entirely the socialists economic critique of capitalism is their failure to grasp the sovereignty of the consumers in the market economy.
Ludwig von Mises
Scientific criticism has no nobler task than to shatter false beliefs.
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Sovereignty must not be used for inflicting harm on anyone, whether citizen or foreigner.
Ludwig von Mises
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.
Ludwig von Mises
Every government intervention [in the marketplace] creates unintended consequences, which lead to calls for further government interventions.
Ludwig von Mises
Socialism and interventionism. Both have in common the goal of subordinating the individual unconditionally to the state.
Ludwig von Mises
Liberty is always freedom from the government.
Ludwig von Mises
Where there is no market economy, the best intentioned provisions of constitutions and laws remain a dead letter.
Ludwig von Mises
The alcoholic and the drug addict harm only themselves by their behavior the person who violates the rules of morality governing mans life in society harms not only himself, but everyone.
Ludwig von Mises
Tyranny is the political corollary of socialism, as representative government is the political corollary of the market economy.
Ludwig von Mises
The essence of democracy is not that everyone makes and administers laws but that lawgivers and rulers should be dependent on the people's will in such a way that they may be peaceably changed if conflict occurs.
Ludwig von Mises