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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.

Ludwig von Mises

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Ludwig von Mises
Age: 92 †
Born: 1881
Born: September 29
Died: 1973
Died: October 10
Economist
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Lemberg
Austria
Ludwig Heinrich Edler von Mises
Ludwig Heinrich Mises
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More quotes by Ludwig von Mises

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Socialism is the renunciation of rational economy.
Ludwig von Mises
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Scientific research sooner or later, but inevitably, encounters something ultimately given that it cannot trace back to something else of which it would appear as the regular or necessary derivative. Scientific progress consists in pushing further back this ultimately given.
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What is called economic progress is the joint effect of the activities of the three progressive groups-or classes-of the savers, the scientist-inventors, and the entrepreneurs, operating in a market economy as far as it is not sabotaged by the endeavors of the nonprogressive majority of the routinists and the public policies supported by them.
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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.
Ludwig von Mises
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The aim of the popularization of economic studies is not to make every man an economist. The idea is to equip the citizen for his civic functions in community life.
Ludwig von Mises
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What mankind needs today is liberation from the rule of nonsensical slogans and a return to sound reasoning.
Ludwig von Mises
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The entrepreneur profits to the extent he has succeeded in serving the consumers better than other people have done.
Ludwig von Mises
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The inequality of income and fortunes is essential in capitalism.
Ludwig von Mises
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Profits are the driving force of the market economy. The greater the profits, the better the needs of the consumers are supplied... He who serves the public best, makes the highest profits.
Ludwig von Mises
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Under a socialist mode of production all personal incentives which selfishness provides under capitalism are removed, and a premium is put upon laziness and negligence. Whereas in a capitalist society selfishness incites everyone to the utmost diligence, in a socialist society it makes for inertia and laxity.
Ludwig von Mises
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As the science of economics...exploded the fallacies of every brand of utopianism, it was outlawed and stigmatized as unscientific.
Ludwig von Mises
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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.
Ludwig von Mises
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In public administration there is no connection between revenue and expenditure.
Ludwig von Mises
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He who serves the public best, makes the highest profits.
Ludwig von Mises
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The situation of having to belong to a state to which one does not wish is no less onerous if it is the result of an election than if one must endure it as the consequence of a military conquest.
Ludwig von Mises
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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
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The boom squanders through malinvestment scarce factors of production and reduces the stock available through overconsumption its alleged blessings are paid for by impoverishment.
Ludwig von Mises
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Not mythical material productive forces, but reason and ideas determine the course of human affairs. What is needed to stop the trend toward socialism and despotism is common-sense and moral courage.
Ludwig von Mises
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Those fighting for free enterprise and free competition do not defend the interests of those rich today. They want a free hand left to unknown men who will be the entrepreneurs of tomorrow.
Ludwig von Mises
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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.
Ludwig von Mises