Nobody can be at the same time a correct bureaucrat and an innovator Ludwig von Mises More Quotes by Ludwig von Mises More Quotes From Ludwig von Mises The essence of Keynesianism is its complete failure to conceive the role that saving and capital accumulation play in the improvement of economic conditions. Ludwig von Mises roles essence play It is not enough for [the investor] to know all the factors that can possibly contribute to the determination of a future event. In order to anticipate correctly they must also anticipate correctly the quantity as it were of each factor's contribution and the instant at which its contribution will become effective. Ludwig von Mises events determination order 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 law action doe If history could prove and teach us anything, it would be the private ownership of the means of production as a necessary requisite of civilization and material well-being. All civilizations have up to now been based on private property. Only nations committed to the principle of private property have risen above penury and produced science, art, and literature. There is no experience to show that any other social system could provide mankind with any of the achievements of civilization. Ludwig von Mises wisdom mean art Liberalism must be intolerant of every sort of intolerance. Ludwig von Mises liberalism intolerance Marx and Engels openly declared that the progressive income tax and the death tax are 'economically untenable' and that they advocated them only because 'they necessitate further inroads' upon the capitalist system and are 'unavoidable' as a means of bringing about socialism. Ludwig von Mises income progressive mean Men are fighting one another because they are convinced that the extermination and liquidation of adversaries is the only means of promoting their own well-being. Ludwig von Mises war peace mean The philosophy of protectionism is a philosophy of war. Ludwig von Mises philosophy war peace The law-abiding citizen by his labor serves both himself and his fellow man and thereby integrates himself peacefully into the social order. The robber, on the other hand, is intent, not on honest toil, but on the forcible appropriation of the fruits of others' labor. Ludwig von Mises men order hands Capitalism has improved the standard of living of the wage earners to an unprecedented extent. The average American family enjoys today amenities of which, only a hundred years ago, not even the richest nabobs dreamed. Ludwig von Mises average today years The [liberals] consider profits as objectionable. The very existence of profits is in their eyes a proof that wage rates could be raised without harm to anybody. They speak of profit without dealing with loss. Profit and loss are the instruments by means of which the consumers keep a tight rein on all business activities. A profitable enterprise tends to expand; an unprofitable one tends to shrink. The elimination of profit renders production rigid and abolishes the consumer's control. Ludwig von Mises eye loss mean The usual terminology of political language is stupid. What is 'left' and what is 'right'? Why should Hitler be 'right' and Stalin, his temporary friend, be 'left'? Who is 'reactionary' and who is 'progressive'? Reaction against an unwise policy is not to be condemned. And progress towards chaos is not to be commended. Ludwig von Mises political-language progress stupid In the long run the ideas of the majority, however detrimental they may be, will carry on. The future of mankind depends on the ability of the elite to influence public opinion in the right direction. Ludwig von Mises freedom running ideas What can prevent the coming of totalitarian socialism is only a thorough change in ideologies. What we need is an open positive endorsement of that system to which we owe all the wealth that distinguished our age from the conditions of ages gone by. Ludwig von Mises age gone needs This, then, is freedom in the external life of man-that he is independent of the arbitrary power of his fellows. Ludwig von Mises independent liberty men The genuine history of mankind is the history of ideas. It is Ludwig von Mises political men ideas As the liberal sees it, the task of the state consists solely and exclusively in guaranteeing the protection of life, health, liberty, and private property against violent attacks. Everything that goes beyond this is an evil. A government that, instead of fulfilling its task, sought to go so far as actually to infringe on personal security of life and health, freedom, and property would, of course, be altogether bad. Ludwig von Mises liberty government evil An entrepreneur cannot be trained. A man becomes and entrepreneur by seizing an opportunity and filling the gap. No special education is required for such a display of keen judgment, foresight, and energy. Ludwig von Mises entrepreneur opportunity men The socialist system, however, forbids this fundamental freedom to choose one's own career. Under socialist conditions, there is only one economic authority, and it has the right to determine all matters concerning production. Ludwig von Mises freedom careers fundamentals Every restriction of trade creates vested interests that are from then on opposed to its removal. Ludwig von Mises restriction trade interest
