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

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Under capitalism everybody is the architect of his own fortune.
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All those evils which the [liberals] interpret as evidence of the failure of capitalism, are the necessary outcome of interference with the market.
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Economics must not be relegated to classrooms and statistical offices and must not be left to esoteric circles. It is the philosophy of human life and action and concerns everybody and everything. It is the pith of civilization and of man's human existence.
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The market system is the basis of our civilization. Its only alternative is the Führer principle.
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Inflation has always been an important resource of policies of war and revolution and why we also find it in the service of socialism.
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The market and its inescapable law are supreme.
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A genius is always a teacher, never a pupil he is always self-made.
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Historical knowledge is indispensable for those who want to build a better world
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A short time ago the demagogues blamed capitalism for the poverty of the masses. Today they rather blame capitalism for the affluence that it bestows upon the common man.
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The truth is that most people lack the intellectual ability and courage to resist a popular movement, however pernicious and ill-considered.
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Plato and Hitler were both the same kind of consistent socialists who planned also for the production of future socialists, the breeding and education of future members of society.
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You have the courage to tell the masses what no politician told them: you are inferior and all the improvements in your conditions which you simply take for granted you owe to the effort of men who are better than you. If this be arrogance, as some of your critics observed, it is still the truth that had to said in the age of the Welfare State.
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In the socialist commonwealth every economic change becomes an undertaking whose success can be neither appraised in advance nor later retrospectively determined. There is only groping in the dark. Socialism is the abolition of rational economy.
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Governments, political parties, pressure groups, and the bureaucrats of the educational hierarchy think they can avoid the inevitable consequences of unsuitable measures by boycotting and silencing the independent economists. But truth persists and works, even if nobody is left to utter it.
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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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Capitalism gave the world what it needed, a higher standard of living for a steadily increasing number of people.
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Government policies try to prevent the emergence of serious unemployment by credit expansion, i.e., inflation. The outcome was rising prices, renewed demands for higher wages and reiterated credit expansion in short, protracted inflation.
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Government is the only institution that can take a valuable commodity like paper, and make it worthless by applying ink.
Ludwig von Mises