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

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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.
Ludwig von Mises
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The desire for an increase of wealth can be satisfied through exchange, which is the only method possible in a capitalist economy, or by violence and petition as in a militarist society, where the strong acquire by force, the weak by petitioning.
Ludwig von Mises
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Nobody is in a position to decree what should make a fellow man happier.
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The issue is always the same: the government or the market. There is no third solution.
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The truth is that the government cannot give if it does not take from somebody...It is not in the power of the government to make everybody more prosperous.
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The entrepreneur profits to the extent he has succeeded in serving the consumers better than other people have done.
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Socialism and interventionism. Both have in common the goal of subordinating the individual unconditionally to the state.
Ludwig von Mises
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The market system makes all producers responsible to the consumer.
Ludwig von Mises
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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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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
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Daily experience proves clearly to everybody but the most bigoted fanatics of socialism that governmental management is inefficient and wasteful.
Ludwig von Mises
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Progress of any kind is always at variance with the old and established ideas and therefore with the codes inspired by them. Every step of progress is a change involving heavy risks.
Ludwig von Mises
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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.
Ludwig von Mises
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The interventionist policy (big government) provides thousands and thousands of people with safe, placid, and not too strenuous jobs at the expense of the rest of society.
Ludwig von Mises
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...this remedy is the power of the citizens they have to prevent the establishment of such an autocratic regime that arrogates to itself a higher wisdom than that of the average citizen. This is the fundamental difference between freedom and serfdom.
Ludwig von Mises
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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
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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.
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Each epoch has found in the Gospels what it sought to find there, and has overlooked what it wished to overlook.
Ludwig von Mises
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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.
Ludwig von Mises
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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.
Ludwig von Mises