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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 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
Freedom really means the freedom to make mistakes.
LUDWIG VON MISES

Freedom Make Mean Mistake
The struggle for freedom is not the struggle of the many against the few, but of minorities, sometimes of a minority of but one man gainst the majority.
LUDWIG VON MISES

Against Gainst Man Men Minority Struggle Survival
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

Condition Economic Important Intelligent Own Progeny Stake
The issue is always the same: the government or the market. There is no third solution.
LUDWIG VON MISES

Always Government Issues Liberty Solution
Many who are self-taught far excel the doctors, masters, and bachelors of the most renowned universities.
LUDWIG VON MISES

Doctor Hard Most Renowned Self University Work
Depressions and mass unemployment are not caused by the free market but by government interference in the economy.
LUDWIG VON MISES

Depression Government Interference Market Mass Unemployment
The worship of the state is the worship of force. There is no more dangerous menace to civilization than a government of incompetent, corrupt, or vile men.
LUDWIG VON MISES

Civilization Evil Force Men State Worship
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
The essential feature of government is the enforcement of its decrees by beating, killing, and imprisoning.
LUDWIG VON MISES

Beat Enforcement Essential Government Kill
The market is a democracy in which every penny gives a right to vote.
LUDWIG VON MISES

Democracy Enny Give Giving Market Pennies
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 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
Economics is not about things and tangible material objects; it is about men, their meanings and actions.
LUDWIG VON MISES

Action Economics Meaning Men Motivational Object Success
A society that chooses between capitalism and socialism does not choose between two social systems; it chooses between social cooperation and the disintegration of society. Socialism is not an alternative to capitalism; it is an alternative to any system under which men can live as human beings.
LUDWIG VON MISES

Between Capitalism Choose Socialism Society System
The planner is a potential dictator who wants to deprive all other people of the power to plan and act according to their own plans. He aims at one thing only: the exclusive absolute preeminence of his own plan.
LUDWIG VON MISES

According Dictator Other Own People Plan Planner Potential Power Want Deprive
The gold standard did not collapse. Governments abolished it in order to pave the way for inflation.
LUDWIG VON MISES

Abolish Collapse Country Gold Government Inflation Order Pave Wave
Government cannot make man richer, but it can make him poorer.
LUDWIG VON MISES

Government Make Poorer Richer
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
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
The final outcome of the credit expansion is general impoverishment.
LUDWIG VON MISES

Credit Expansion Final General Impoverishment Outcome
To the masses, the catchwords of Socialism sound so enticing… so they will continue to work for Socialism, helping thereby to bring about the inevitable decline of the civilization which the nations of the West have taken thousands of years to build up.
LUDWIG VON MISES

Catchword Civilization Continue Help Inciting Mass Socialism Sound Taken Work Year
The real bosses, in the capitalist system of market economy, are the consumers.
LUDWIG VON MISES

Boss Capital Consumer Market System
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 whole grim apparatus of oppression and coercion, policemen, customs guards, penal courts, prisons, in some countries even executioners, had to be put into action in order to destroy the gold standard.
LUDWIG VON MISES

Action Apparatus Coercion Country Cutsom Gold Pencil Policemen Standard
The state can be and has often been in the course of history the main source of mischief and disaster.
LUDWIG VON MISES

Course Disaster Liberty Mischief Often Peace Source State War
Government is the only institution that can take a valuable commodity like paper, and make it worthless by applying ink.
LUDWIG VON MISES

Apply Government Ink Institution Paper Take Valuable Worthless

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