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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
Equal
Heirs
Cases
Inherited
Wealth
Rapidly
Makes
Demands
Life
Entrepreneur
Generally
Case
Demand
Vanishes
More quotes by Ludwig von Mises
Every step by which an individual substitutes concerted action for isolated action results in an immediate and recognizable improvement in his conditions. The advantages derived from peaceful cooperation and division of labor are universal.
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The criterion of truth is that it works even if nobody is prepared to acknowledge it.
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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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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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As the prosperity of the nation and the height of wage rates depend on a continual increase in the capital invested in its plants, mines and farms, it is one of the foremost tasks of good government to remove all obstacles that hinder the accumulation and investment of new capital.
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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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Two hundred years ago, before the advent of capitalism, a man's social status was fixed from the beginning to the end of his life he inherited it from his ancestors and it never changed.
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The average American worker enjoys amenities for which Croesus, Crassus, the Medici, and Louis XIV would have envied him.
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The public firm can nowhere maintain itself in free competition with the private firm it is possible today only where it has a monopoly that excludes competition. Even that alone is evidence of its lesser economic productivity.
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War prosperity is like the prosperity that an earthquake or a plague brings...but no one has for those reasons yet sought to celebrate earthquakes and cholera as stimulators of the productive forces in the general interest.
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Reason is the main resource of man in his struggle for survival.
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The genuine history of mankind is the history of ideas. It is ideas that distinguish man from all other beings. Ideas engender social institutions, political changes, technologi- cal methods of production, and all that is called economic conditions.
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There is no such thing as a just and fair method of exercising the tremendous power that interventionism puts into the hands of the legislature and the executive.
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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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The usual terminology of political language is stupid. What is 'left' and what is 'right'? Why should Hitler be 'right' and Stalin, his temporary friend, be 'left'? Who is 'reactionary' and who is 'progressive'? Reaction against an unwise policy is not to be condemned. And progress towards chaos is not to be commended.
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All present-day governments are fanatically committed to an easy money policy.
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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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Lenin's ideal was to build a nation's production effort according to the model of the post office.
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One has to recognize that science is not metaphysics, and certainly not mysticism it can never bring us the illumination and the satisfaction experienced by one enraptured in ecstasy. Science is sobriety and clarity of conception, not intoxicated vision.
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The salesman thanks the customer for patronizing his shop and asks him to come again. But the socialists say: Be grateful to Hitler, render thanks to Stalin be nice and submissive, then the great man will be kind to you later too.
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