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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

State interference in economic life, which calls itself economic policy, has done nothing but destroy economic life. Prohibitions and regulations have by their general obstructive tendency fostered the growth of the spirit of wastefulness.
LUDWIG VON MISES

Call Destroy Done Economic Growth Interfere Life Nothing Policy Regulation State
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
He who serves the public best, makes the highest profits.
LUDWIG VON MISES

Best Highest Make Profit Public Service
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 alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.
LUDWIG VON MISES

Abandonment Alternative Come Currency Expansion Involved Sooner Voluntary Whether
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
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 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
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 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

Ambition Change Defeat Doctrine Excellent Independent Make Money Party Political Purchase Standard
The real bosses, in the capitalist system of market economy, are the consumers.
LUDWIG VON MISES

Boss Capital Consumer Market System
[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
LUDWIG VON MISES

Bold Design Disregard Economic Fail History Law Long Political Record
Government is in the last resort the employment of armed men, of policemen, gendarmes, soldiers, prison guards, and hangmen.
LUDWIG VON MISES

Arm Employment Gendarme Government Hangmen Last Prison Resort Soldier
All people, however fanatical they may be in their zeal to disparage and to fight capitalism, implicitly pay homage to it by passionately clamoring for the products it turns out
LUDWIG VON MISES

Capitalism Fanatical Fighting Homage Implicity Liberty Passionately People Zeal
They promise the blessings of the Garden of Eden, but they plan to transform the world into a gigantic post office. Every man but one a subordinate clerk in a bureau.
LUDWIG VON MISES

Bless Bureau Clerk Garden Man Promise Subordinate Transform
Government cannot make man richer, but it can make him poorer.
LUDWIG VON MISES

Government Make Poorer Richer

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.

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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.

Related Topics

Popular Authors

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