Ludwig von Mises
Ludwig von Mises
Ludwig Heinrich Edler von Miseswas a theoretical Austrian School economist. He is best known for his work on praxeology, a study of human choice and action. Mises emigrated from Austria to the United States in 1940. Mises's writings have exerted significant influence on the libertarian movement in the United States since the mid-20th century...
NationalityAustrian
ProfessionEconomist
Date of Birth29 September 1881
CountryAustria
Ludwig von Mises quotes about
teacher self genius
A genius is always a teacher, never a pupil; he is always self-made.
saving small-business spending
What makes small business develop into big business is not spending, but saving and capital accumulation.
country people cabinets
In all countries with a settled bureaucracy people used to say: The cabinets come and go, but the bureaus remain.
entrepreneur demand heirs
If, as is generally the case, the heirs are not equal to the demands which life makes on an entrepreneur, the inherited wealth rapidly vanishes.
country war mean
The goal of liberalism is the peaceful cooperation of all men. It aims at peace among nations too. When there is private ownership of the means of production everywhere and when laws, the tribunals and the administration treat foreigners and citizens on equal terms, it is of little importance where a country's frontiers are drawn.... War no longer pays; there is no motive for aggression.... All nations can coexist peacefully.
mean men order
The market steers the capitalistic economy. It directs each individual's activities into those channels in which he best serves the wants of his fellow-men. The market alone puts the whole social system of private ownership of the means of production and free enterprise in order and provides it with sense and meaning.
management remedy inefficiency
There is no remedy for the inefficiency of public management.
facts saving accumulation
A nation cannot prosper if its members are not fully aware of the fact that what alone can improve their condition s is more and better production. And this can only be brought about by increased saving and capital accumulation.
country believe government
A famous, very often quoted phrase says: "That government is best, which governs least." I do not believe this to be a correct description of of the functions of a good government. Government ought to do all the things for which it is needed and for which it is established. Government ought to protect the individuals within the country against the violent and fraudulent attacks of gangsters, and it should defend the country against foreign enemies. These are the functions of government within a free system, within the system of the market economy.
men years two
Two hundred years ago, before the advent of capitalism, a man's social status was fixed from the beginning to the end of his life; he inherited it from his ancestors and it never changed.
men evil historical
The capitalist system was termed "capitalism" not by a friend of the system, but by an individual who considered it to be the worst of all historical systems, the greatest evil that had ever befallen mankind. That man was Karl Marx.
country population proportion
A country becomes more prosperous in proportion to the rise in the invested capital unit per unit of its population.
mean simple division-of-labor
Free markets. What does this system mean? The answer is simple: it is the market economy, it is the system in which the cooperation of individuals in the social division of labor is achieved by the market.
cooperation individual social
The productivity of social cooperation surpasses in every respect the sum total of the production of isolated individuals.