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
civilization theory decline
My theories explain, but cannot slow the decline of a great civilization. I set out to be a reformer, but only became the historian of decline.
expansion credit slumps
Credit expansion can bring about a temporary boom. But such a fictitious prosperity must end in a general depression of trade, a slump.
want boundaries should
A nation, therefore, has no right to say to a province: You belong to me, I want to take you. A province consists of its inhabitants. If anybody has a right to be heard in this case it is these inhabitants. Boundary disputes should be settled by plebiscite.
commodity-prices people investing
What people today call inflation is not inflation, i.e., the increase in the quantity of money and money substitutes, but the general rise in commodity prices and wage rates which is the inevitable consequence of inflation.
men littles mankind
Changes in human conditions are brought about by the pioneering of the cleverest and most energetic men. They take the lead and the rest of mankind follows them little by little.
teaching successful demand
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.
numbers people dollars
Those who satisfy the wants of a smaller number of people only collect fewer votes-dollars-than those who satisfy the wants of more people.
school men training
No matter how efficient school training may be, it would only produce stagnation, orthodoxy, and rigid pedantry if there were no uncommon men pushing forward beyond the wisdom of their tutors.
determination order events
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.
entrepreneur earning reason-why
There is no reason why capitalists and entrepreneurs should be ashamed of earning profits.
behavior architect responsible
No architect is held responsible for the behavior of those who inhabit the structure he designed.
learning school ideas
Education rears disciples, imitators, and routinists, not pioneers of new ideas and creative geniuses. The schools are not nurseries of progress and improvement, but conservatories of tradition and unvarying modes of thought.
responsible producers consumers
The market system makes all producers responsible to the consumer.
moving airplane talking
Many pioneers of these industrial changes, it is true, became rich. But they acquired their wealth by supplying the public with motor cars, airplanes, radio sets, refrigerators, moving and talking pictures, and variety of less spectacular but no less useful innovations. These new products were certainly not an achievement of offices and bureaucrats.