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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.

Ludwig von Mises

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.
LUDWIG VON MISES

Autonomy Freedom Individual Intellectual Nurture Progress Root Soil Ultimately
The Welfare State is merely a method for transforming the market economy step by step into socialism.
LUDWIG VON MISES

Market Misery Socialism State Step Transform Welfare
The essential feature of government is the enforcement of its decrees by beating, killing, and imprisoning. Those who are asking for more government interference are asking ultimately for more compulsion and less freedom.
LUDWIG VON MISES

Ask Essential Freedom Government Imprisoning More Ultimate
All rational action is in the first place individual action. Only the individual thinks. Only the individual reasons. Only the individual acts.
LUDWIG VON MISES

Action First Rational Reason Think
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.
LUDWIG VON MISES

Answer Change Cooperative Division Economical Free Individual Labor Market Mean Mena Simple System
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.
LUDWIG VON MISES

Create Destruction Essence Private Production Social
The liars must be afraid of the truth and are therefore driven to suppress its pronouncement.
LUDWIG VON MISES

Afraid Driven Liar Pronouncement Suppress
The entrepreneurs, the capitalists and the technologists prosper as far as they succeed in best supplying the consumers.
LUDWIG VON MISES

Capitalist Consumer Entrepreneur Succeed Supply Technologies
German Marxian’s coined the dictum: If socialism is against human nature, then human nature must be changed.
LUDWIG VON MISES

Against Change Coin Country Human Human Nature Nature Philosophy Political Socialism
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.
LUDWIG VON MISES

Approach Battle Decisive Hang None Plunged Result Unconcern
True, governments can reduce the rate of interest in the short run. They can issue additional paper money.
LUDWIG VON MISES

Additional Government Interest Issue Money Paper Rate Reduce Run Running Short
The essential feature of government is the enforcement of its decrees by beating, killing, and imprisoning.
LUDWIG VON MISES

Beat Enforcement Essential Government Kill
Private property creates for the individual a sphere in which he is free of the state. It sets limits to the operation of the authoritarian will.
LUDWIG VON MISES

Authoritarian Create Individual Limit Operation Private Spheres State
It is important to remember that government interference always means either violent action or the threat of such action.
LUDWIG VON MISES

Action Important Mean Men Prison Guard Remember Threat Violent
In such vital matters blind reliance upon ‘experts’ and uncritical acceptance of popular catchwords and prejudices is tantamount to the abandonment of self-determination and to yielding to other people’s domination.
LUDWIG VON MISES

Catchwork Domination Matter Other Person Popular Reliance Vital Yield
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

Attitude Boss Capital Consumer Economic Market Real Running System

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 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.

Related Topics

Popular Authors

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