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
fighting ideas substitutes
We must fight all that we dislike in public life. We must substitute better ideas for wrong ideas.
bigs mass big-business
Big business always serve - directly or indirectly - the masses.
essentials income fortune
The inequality of income and fortunes is essential in capitalism.
rising-prices government trying
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.
fields administration favoritism
In many fields of the administration of interventionist measures, favoritism simply cannot be avoided.
important elements disease
The most important thing to remember is that inflation is not an act of God, that inflation is not a catastrophe of the elements or a disease that comes like the plague. Inflation is a policy.
age gone needs
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.
favors public-opinion socialism
The masses favor socialism because they trust the socialist propaganda of the intellectuals. The intellectuals, not the populace, are molding public opinion.
successful effort entrepreneur
The riches of successful entrepreneurs is not the cause of anybody's poverty; it is the consequence of the fact that the consumers are better supplied than they would have been in the absence of the entrepreneur's efforts.
management socialism prove
Daily experience proves clearly to everybody but the most bigoted fanatics of socialism that governmental management is inefficient and wasteful.
mean limits unnecessary
If it is unnecessary to adjust the amount of expenditure to the means available, there is no limit to the spending of the great god State.
government giving magic
The government pretends to be endowed with the mystical power to accord favors out of an inexhaustible horn of plenty. It is both omniscient and omnipotent. It can by a magic wand create happiness and abundance. The truth is the government cannot give if it does not take from somebody.
government credit sake
What governments call international monetary cooperation is concerted action for the sake of credit expansion.
needs serving-others capitalism
Under capitalism everybody provides for their own needs by serving others.