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The most successful businessmen were often uneducated when measured by the scholastic standards of the teaching profession. But they were equal to their social function of adjusting production to the most urgent demand. Because of these merits the consumers chose them for business leadership.

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
Production
Uneducated
Successful
Productions
Merits
Often
Profession
Businessman
Business
Standards
Urgent
Social
Function
Measured
Scholastic
Demand
Chose
Scholastics
Leadership
Merit
Businessmen
Teaching
Consumers
Adjusting

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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 philosophy of protectionism is a philosophy of war. The wars of our age are not at variance with popular economic doctrines they are, on the contrary, the inescapable result of a consistent application of these doctrines.
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History has witnessed the failure of many endeavors to impose peace by war, cooperation by coercion, unanimity by slaughtering dissidents.... A lasting order cannot be established by bayonets.
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The mixing of politics and business not only is detrimental to politics, as is frequently observed, but even much more so to business.
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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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Innovators and creative geniuses cannot be reared in schools. They are precisely the men who defy what the school has taught them.
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He who disdains the fall in infant mortality and the gradual disappearance of famines and plagues may cast the first stone upon the materialism of the economists.
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The sharper the competition, the better it serves its social function to improve economic production.
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Taxes are necessary. But the system of discriminatory taxation universally accepted under the misleading name of progressive taxation of income and inheritance is not a mode of taxation. It is rather a mode of disguised expropriation of the successful capitalists and entrepreneurs.
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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.
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The democracy of the market consists in the fact that people themselves make their choices and that no dictator has the power to force them to submit to his value judgments.
Ludwig von Mises
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The recurrence of periods of depression and mass unemployment has discredited capitalism in the opinion of injudicious people. Yet these events are not the outcome of the operation of the free market. They are on the contrary the result of well-intentioned but ill-advised government interference with the market.
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A genius is always a teacher, never a pupil he is always self-made.
Ludwig von Mises
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Sovereignty must not be used for inflicting harm on anyone, whether citizen or foreigner.
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A higher standard of living also brings about a higher standard of culture and civilization.
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Education rears disciples, imitators, and routinists, not pioneers of new ideas and creative geniuses. The schools are not nurseries of progress and improvement, but conservatories of tradition and unvarying modes of thought.
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Historical knowledge is indispensable for those who want to build a better world
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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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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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Science does not give us absolute and final certainty. It only gives us assurance within the limits of our mental abilities and the prevailing state of scientific thought.
Ludwig von Mises