Everybody thinks of economics whether he is aware of it or not. In joining a political party or in casting his ballot, the citizen implicitly takes a stand upon essential economic theories. Ludwig von Mises More Quotes by Ludwig von Mises More Quotes From Ludwig von Mises Action based on reason, action therefore which is only to be understood by reason, knows only one end, the greatest pleasure of the acting individual. Ludwig von Mises acting reason action As soon as the economic freedom which the market economy grants to its members is removed, all political liberties and bills of rights become humbug. Ludwig von Mises liberty political rights It is the worst of all superstitions to assume that the epistemological characteristics of one branch of knowledge must necessarily be applicable to any other branch. Ludwig von Mises superstitions assuming branches Against nature and within nature there is no freedom. Ludwig von Mises freedom nature Innovation is the whim of an elite before it becomes a need of the public. Ludwig von Mises whim innovation needs Reason and action are congeneric and homogenous, two aspects of the same phenomenon. Ludwig von Mises reason action two Economics is a theoretical science and as such abstains from any judgement of value. It is not its task to tell people what ends they should aim at. It is a science of the means to be applied for attainment of ends chosen, not, to be sure, a science of the choosing of ends. Ultimate decisions, the valuations and the choosing of ends, are beyond the scope of any science. Science never tells a man how he should act; it merely shows how a man must act if he wants to attain definite ends. Ludwig von Mises men mean people In the world of reality, life, and human action there is no such thing as interests independent of ideas, preceding them temporarily and logically. What a man considers his interest is the result of his ideas. Ludwig von Mises independent men reality What matters is not the allocation of portions out of a fund presented to man by nature. The problem is rather to further those social institutions which enable people to continue and to enlarge the production of all those things which they need. Ludwig von Mises what-matters men people Inflation is essentially antidemocratic. Ludwig von Mises inflation 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 jobs men school In life everything is continually in flux. Ludwig von Mises flux The people who think that the power of big business is enormous are mistaken Ludwig von Mises business people thinking No increase in the welfare of the member of society can result from the availability of an additional quantity of money. Ludwig von Mises availability welfare increase Is still fulfilling its social function in supplying the consumers with more, better and cheaper goods. Ludwig von Mises goods function social The living is not perfect because it is liable to change; the dead is not perfect because it does not live. Ludwig von Mises liable perfect doe 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 overconsumption factors-of-production blessing It is impossible to grasp the meaning of the idea of sound money if one does not realize that it was devised as an instrument for the protection of civil liberties against despotic inroads on the part of governments. Ludwig von Mises liberty government ideas The class of those who have the ability to think their own thoughts is separated by an unbridgeable gulf from the class of those who cannot. Ludwig von Mises ability class thinking The superiority of the gold standard consists in the fact that the value of gold develops independent of political actions. Ludwig von Mises independent political gold
