Depressions and mass unemployment are not caused by the free market but by government interference in the economy.
LUDWIG VON MISESSocialism is not an alternative to capitalism; it is an alternative to any system under which men can live as human beings.
More Ludwig von Mises Quotes
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[E]conomic history is a long record of government policies that failed because they were designed with a bold disregard for the laws of economics
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For destruction is the essence of it. It produces nothing, it only consumes what the social order based on private ownership in the means of production has created.
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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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Economic progress is the work of the savers, who accumulate capital, and of the entrepreneurs, who turn capital to new uses.
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Freedom really means the freedom to make mistakes.
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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.
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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.
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The greater the amount of capital invested per head of the worker, the more and better goods can be produced and consumed.
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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.
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The entrepreneur profits to the extent he has succeeded in serving the consumers better than other people have done.
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It is the soil in which the seeds of freedom are nurtured and in which the autonomy of the individual and ultimately all intellectual and material progress are rooted.
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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 gold standard makes the money’s purchasing power independent of the changing, ambitions and doctrines of political parties and pressure groups. This is not a defect of the gold standard; it is its main excellence.
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The philosophy underlying the system of progressive taxation is that the income and wealth of the well-to-do classes can be freely tapped.
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There is but one means available to improve the material conditions of mankind: to accelerate the growth of capital accumulated as against the growth in population.
LUDWIG VON MISES