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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

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
What the advocates of these tax rates fail to realize is that the greater part of the incomes taxed away would not have been consumed but saved and invested.
LUDWIG VON MISES

Advocate Consumed Greater Income Invest Tax
Historical knowledge is indispensable for those who want to build a better world
LUDWIG VON MISES

Better Build Historical Indispensable Knowledge Want World
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.
LUDWIG VON MISES

Arisen Essence Father Make Out Peace Society War Work
Liberty is always freedom from the government.
LUDWIG VON MISES

Always Government Liberty
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
The interventionists do not approach the study of economic matters with scientific disinterestedness. Most of them are driven by an envious resentment against those whose incomes are larger than their own. This bias makes it impossible for them to see things as they really are.
LUDWIG VON MISES

Approach Distinteretedness Economic Entrepreneur Interventionist Liberty Matter People Scientific Study
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 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 alcoholic and the drug addict harm only themselves by their behavior; the person who violates the rules of morality governing mans life in society harms not only himself, but everyone.
LUDWIG VON MISES

Addict Alcoholic Behavior Drug Gobverming Life Man Morality Person Rule
They 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.
LUDWIG VON MISES

Appearance Artificial Boom Collapse Create Depression Expansion Open Soon Way
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
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.
LUDWIG VON MISES

Better Least Mean Order Pretend Socialism Spoiler Thousand Year
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
The so-called liberals of today have the very popular idea that freedom of speech, of thought, of the press, freedom of religion, freedom from imprisonment without trial-that all these freedoms can be preserved in the absence of what is called economic freedom.
LUDWIG VON MISES

Call Freedom Liberal Popular Press Religion Speech Though Today
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

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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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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