The riches of the rich are not the cause of the poverty of anybody; the process that makes some people rich is, on the contrary, the corollary of the process that improves many peoples want satisfaction.
LUDWIG VON MISESThey can open the way to credit expansion by the banks. They can thus create an artificial boom and the appearance of prosperity. But such a boom is bound to collapse soon or late and to bring about a depression.
More Ludwig von Mises Quotes
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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.
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What pushes the masses into the camp of socialism is, even more than the illusion that socialism will make them richer, the expectation that it will curb all those who are better than they themselves are.
LUDWIG VON MISES -
Liberty is meaningless if it is only the liberty to agree with those in power.
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The worst evils which mankind ever had to endure were inflicted by governments.
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This is what capitalism, the much abused profit system, has brought about and brings about daily anew. Yet, most present-day governments and political parties are eager to destroy this system.
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The real bosses in the capitalist system of market economy are the consumers. They by their buying and by their abstention from buying decide who should own the capital and run the plants. They determine what should be produced and in what quantity and quality.
LUDWIG VON MISES -
Government is the only institution that can take a valuable commodity like paper, and make it worthless by applying ink.
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There is no means of avoiding the final collapse of a boom brought about by credit expansion.
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The mark of the creative mind is that it defies a part of what it has learned.
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It is vain to fight totalitarianism by adopting totalitarian methods. Freedom can only be won by men unconditionally committed to the principles of freedom.
LUDWIG VON MISES -
None can stand aside with unconcern; the interest of everyone hangs on the result. Whether he chooses or not, every man is drawn into the great historical struggle, the decisive battle into which our epoch has plunged us.
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Whoever neglects to examine to the best of his abilities all the problems involved voluntarily surrenders his birthright to a selfappointed elite of supermen.
LUDWIG VON MISES -
He who is unfit to serve his fellow citizens wants to rule them.
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If one rejects laissez faire on account of mans fallibility and moral weakness, one must for the same reason also reject every kind of government action.
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If you increase the quantity of money, you bring about the lowering of the purchasing power of the monetary unit.
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The flowering of human society depends on two factors: the intellectual power of outstanding men to conceive sound social and economic theories, and the ability of these or other men to make these ideologies palatable to the majority.
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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.
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Depressions and mass unemployment are not caused by the free market but by government interference in the economy.
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Whoever prefers life to death, happiness to suffering, well-being to misery must defend without compromise private ownership in the means of production.
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The characteristic feature of a free society is that it can function in spite of the fact that its members disagree in many judgments of value.
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Socialism is not in the least what it pretends to be. It is not the pioneer of a better and finer world, but the spoiler of what thousands of years of civilization have created. It does not build, it destroys.
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They promise the blessings of the Garden of Eden, but they plan to transform the world into a gigantic post office. Every man but one a subordinate clerk in a bureau.
LUDWIG VON MISES -
Their attitudes result either in profit or in loss for the enterpriser. They make poor men rich and rich men poor. They are no easy bosses.
LUDWIG VON MISES -
As conditions are today, nothing can be more important to every intelligent man than economics. His own fate and that of his progeny are at stake.
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Society has arisen out of the works of peace; the essence of society is peacemaking. Peace and not war is the father of all things.
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The state can be and has often been in the course of history the main source of mischief and disaster.
LUDWIG VON MISES