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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.

Ludwig von Mises

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Condition Economic Important Intelligent Own Progeny Stake

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Marilyn Monroe Paulo Coelho Abraham Lincoln C. S. Lewis Khalil Gibran Charlie Chaplin Gautama Buddha Isaac Newton

The worst evils which mankind has ever had to endure were inflicted by bad governments.
LUDWIG VON MISES

Evil Government Peace War Worst
The advocates of public control cannot do without inflation. They need it in order to finance their policy of reckless spending and of lavishly subsidizing and bribing the voters.
LUDWIG VON MISES

Advocate Control Inflation Need Order Public Voter
The criterion of truth is that it works even if nobody is prepared to acknowledge it.
LUDWIG VON MISES

Acknowledge Criteria Criterion Prepare Truth
Tyranny is the political corollary of socialism, as representative government is the political corollary of the market economy.
LUDWIG VON MISES

Corollary Economic Government Market Political Representative Socialism
Laissez faire does not mean: let soulless mechanical forces operate. It means: let individuals choose how they want to cooperate in the social division of labor and let them determine what the entrepreneurs should produce.
LUDWIG VON MISES

Choose Division Entrepreneur Faire Individual Labor Liassez Mean Mechanical Operate Soules
A higher standard of living also brings about a higher standard of culture and civilization.
LUDWIG VON MISES

Civilization Cultural Higher Living Standard
The mark of the creative mind is that it defies a part of what it has learned.
LUDWIG VON MISES

Creative Defies Learn Mark Mind
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.
LUDWIG VON MISES

Disagree Fact Function Judgement Mean Member Mistake Society Value
The first requisite for a better social order is the return to unrestricted freedom of thought and speech.
LUDWIG VON MISES

First Freedom Order Requistle Return Speech Unrestricted
The entrepreneur profits to the extent he has succeeded in serving the consumers better than other people have done.
LUDWIG VON MISES

Consumer Done Entrepreneur People Profit Successful
The philosophy underlying the system of progressive taxation is that the income and wealth of the well-to-do classes can be freely tapped.
LUDWIG VON MISES

Class Freely Philosophy Progressive Tap Taxation Wealth
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.
LUDWIG VON MISES

Anybody Effort Entrepreneur Poverty Successful
Whoever prefers life to death, happiness to suffering, well-being to misery must defend without compromise private ownership in the means of production.
LUDWIG VON MISES

Compromise Death Happiness Liberty Mean Misery Ownership Prefer Suffering
The only source from which an entrepreneurs profits stem is his ability to anticipate better than other people the future demand of the consumers.
LUDWIG VON MISES

Ability Anticipate Demand Entrepreneur Future Other People Profit Source Stem
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.
LUDWIG VON MISES

Abuse Capitalism Destroy Eager Government Most Profit System Yet
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 MISES

Anybody Cause Contrary Corollary Entrepreneur Make People Poverty Process Rich Some Want

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