99+ Ludwig von Mises Quotes on Common sense, Individualism and Economics - Quotes.pub

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Socialism is not an alternative to capitalism; it is an alternative to any system under which men can live as human beings.

The nationalist, too, affirms Socialism, and objects only to its Internationalism. He wishes to combine Socialism with the ideas of Imperialism and the struggle against foreign nations. He is a national, not an international socialist; but he, also, approves of the essential principles of Socialism.

Professor Harold Laski declared that the attainment of power by the British Labour Party in the normal parliamentary fashion must result in a radical transformation of parliamentary government. A socialist administration needs ‘guarantees’ that its work of transformation would not be ‘disrupted’ by repeal in event of its defeat at the polls. Therefore the suspension of the Constitution is ‘inevitable’.

The characteristic mark of this age of dictators, wars and revolutions is its anticapitalistic bias. Most governments and political parties were eager to restrict the sphere of private initiative and free enterprise.

Socialism is the expression of the principle of violence crying from the workers’ soul, just as Imperialism is the principle of violence speaking from the soul of the official and the soldier.

People without rights are always a menace to social order. Their common interest in removing such barriers unites them; they are prepared to resort to violence because by peaceable means they are unable to get what they want. Social peace is attained only when one allows all members of society to participate in democratic institutions. And this means equality of All before the Law.

A free press can only exist where there is private control over the means of production.

Society is only possible on these terms, that the individual finds therein a strengthening of his own ego and his own will.

Every extension of the functions and power of the State beyond its primary duty of maintaining peace and justice should be scrutinized with jealous vigilance.

No better is the propensity, very popular nowadays, to brand supporters of other ideologies as lunatics. Psychiatrists.

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.

Nobody ever recommended a dictatorship aiming at ends other than those he himself approved. He who advocates dictatorship always advocates the unrestricted rule of his own will, although operated by an intermediary, an amanuensis. He wants a dictator made in his own image. Now.

The avowed aim of all utopian movements is to put an end to history and to establish a final and permanent calm.

Every restriction of trade creates vested interests that are from then on opposed to its removal.

It is not in the power of governments to increase the supply of one commodity without a corresponding restriction in the supply of other commodities more urgently demanded by consumers. The authority may reduce the price of one commodity only by raising the prices of others.

Every step by which an individual substitutes concerted action for isolated action results in an immediate and recognizable improvement in his conditions. The advantages derived from peaceful cooperation and division of labor are universal.

Political ideas that have dominated the public mind for decades cannot be refuted through rational arguments. They must run their course in life and cannot collapse otherwise than in great catastrophe...

American authors or scientists are prone to consider the wealthy businessman as a barbarian, as a man exclusively intent upon making money.

The collapse of an inflation policy carried to its extreme – as in the United States in 1781 and in France in 1796 – does not destroy the monetary system, but only the credit money or fiat money of the State that has overestimated the effectiveness of its own policy. The collapse emancipates commerce from etatism and establishes metallic money again.

Production is not something physical, material, and external; it is a spiritual and intellectual phenomenon.

To seek to organize society is just as crazy as it would be to tear a living plant to bits in order to make a new one out of the dead parts.

Those who disagree with the dictator’s plan have no other means to carry on than to defeat the despot by force of arms.

It is the beginning of the ‘demonetization’ of the notes. The process is hastened by its panic-like character. It may be possible once, twice, perhaps even three or four times, to allay the fears of the public; but eventually the affair must run its course and then there is no longer any going back. Once the depreciation is proceeding so rapidly that sellers have to reckon with considerable losses even if they buy again as quickly as is possible, then the position of the currency is hopeless.

Capitalism has succeeded in raising the material well-being of the masses in an unprecedented way. In the capitalist countries population figures are now several times higher than they were at the eve of the “industrial revolution,” and every citizen of these nations enjoys a standard of living much higher than that of the well-to-do of earlier ages.

Reason and action are congeneric and homogenous, two aspects of the same phenomenon.

Interventionism cannot be considered as an economic system destined to stay. It is a method for the transformation of capitalism into socialism by a series of successive steps.

Thus, the isolated interference with one or a few prices of consumer goods always bring about effects-and this is important to realize-which are even less satisfactory than the conditions that prevailed before.

Servile labour disappeared because it could not stand the competition of free labour; its un-profitability sealed its doom in the market economy.

For the etatist, money is a creature of the State, and the esteem in which money is held is the economic expression of the respect or prestige enjoyed by the State. The more powerful and the richer the State, the better its money. Thus, during the War, it was asserted that ‘the monetary standard of the victors’ would ultimately be the best money. Yet victory and defeat on the battlefield can exercise only an indirect influence on the value of money.

Common man does not speculate about the great problems. With regard to them he relies upon other people’s authority, he behaves as “every decent fellow must behave,” he is like a sheep in the herd. It.

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.

The average American worker enjoys amenities for which Croesus, Crassus, the Medici, and Louis XIV would have envied him.

No increase in the welfare of the member of society can result from the availability of an additional quantity of money.

It is indeed one of the principal drawbacks of every kind of interventionism that it is so difficult to reverse the process.

The system that would stand midway between capitalism and socialism.

In capitalist enterprise there is no secure income and no security of wealth.

That the social life of human beings is subject to definite limitations; that it is governed by a set of laws that are comparable with those of Nature; these are notions that are unknown to the etatist. For the etatist, everything is a question of Macht – power, force, might. And his conception of Macht is crudely materialistic.

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.

The masses, in their capacity as consumers, ultimately determine everybody’s revenues and wealth.

It is extremely difficult for our contemporaries to conceive of the conditions of free banking because they take government interference with banking for granted and as necessary.

Up to now in the West none of the apostles of stabilization and petrification has succeeded in wiping out the individuais innate disposition to think and to apply to ali problems the yardstick of reason. This alone, and no more, history and philosophy can assert in dealing with doctrines that claim to know exactly what the future has in store for mankind.

Capitalists have the tendency to move toward those countries in which there is plenty of labor available and at which labor is reasonable. And by the fact that they bring capital into these countries, they bring about a trend toward higher wage rates.

Country Quotes

Assistance granted to the unemployed does not dispose of unemployment. It makes it easier for the unemployed to remain idle.

But even a victory of planning will not mean the end of history. Atrocious wars among the candidates for the supreme office will break out. Totalitarianism may wipe out civilization, even the whole of the human race. Then, of course, history will have come to its end too.

It is impossible to describe any human action if one does not refer to the meaning the actor sees in the stimulus as well as in the end his response is aiming at.

The biological equipment of a man rigidly restricts the field in which he can serve.

In Nature too, much may exist that we do not like. But we cannot change the essential character of natural events. If, for example, someone thinks – and there are some who have maintained as much – that the way in which man ingests his food, digests it, and incorporates it into his body is disgusting, one cannot argue the point with him. One must say to him: There is only this way or starvation.

The supremacy of public opinion determines not only the singular role that economics occupies in the complex of thought and knowledge. It determines the whole process of human history.

Public opinion takes no offense at the endeavors of farmers, workers, clerks, teachers, doctors, ministers, and people from many other callings to earn as much as they can. But it censures the capitalists and entrepreneurs for their greed.

Action is an attempt to substitute a more satisfactory state of affairs for a less satisfactory one. We call such a willfully induced alteration an exchange.

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