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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

Related Topics

Answer Change Cooperative Division Economical Free Individual Labor Market Mean Mena Simple System

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

Economic progress is the work of the savers, who accumulate capital, and of the entrepreneurs, who turn capital to new uses.
LUDWIG VON MISES

Accumulate Capital Economic Entrepreneur Progress Saver Turn
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
Government spending cannot create additional jobs. If the government provides the funds required by taxing the citizens or by borrowing from the public, it abolishes on the one hand as many jobs as it creates on the other.
LUDWIG VON MISES

Additional Borrow Citizen Fund Government Job Provide Spend Taxi
Taxing profits is tantamount to taxing success.
LUDWIG VON MISES

Profit Success Tantamount Tax
Freedom really means the freedom to make mistakes.
LUDWIG VON MISES

Freedom Mean Mistake Really
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
The greater the amount of capital invested per head of the worker, the more and better goods can be produced and consumed.
LUDWIG VON MISES

Amount Better Capital Consume Good Greater Head Invest Produce
Historical knowledge is indispensable for those who want to build a better world
LUDWIG VON MISES

Better Build Historical Indispensable Knowledge Want World
He who is unfit to serve his fellow citizens wants to rule them.
LUDWIG VON MISES

Citizen Fellow Rule Them Until Want
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
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 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 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
Depression is the aftermath of credit expansion.
LUDWIG VON MISES

Aftermath Credit Depression Expansion
The real bosses, in the capitalist system of market economy, are the consumers.
LUDWIG VON MISES

Boss Capital Consumer Market System
There is no means of avoiding the final collapse of a boom brought about by credit expansion.
LUDWIG VON MISES

Avoid Boom Collapse Credit Expansion Final Liberty Mean
The struggle for freedom is ultimately not resistance to autocrats or oligarchs but resistance to the despotism of public opinion.
LUDWIG VON MISES

Despotism Freedom Oligarch Opinion Public Resistance Struggle Ultimately
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
What mankind needs today is liberation from the rule of nonsensical slogans and a return to sound reasoning.
LUDWIG VON MISES

Liberation Mankind Ned Ninsensical Reason Return Rule Slogan Sound Today
What pushes the masses into the camp of socialism is, even more than the illusion that socialism will make them richer, the expectation that it will curb all those who are better than they themselves are.
LUDWIG VON MISES

Envy Expectation Ilusion Mass Push Richer Socialism
The most important thing to remember is that inflation is not an act of God, that inflation is not a catastrophe of the elements or a disease that comes like the plague. Inflation is a policy.
LUDWIG VON MISES

Act God Important Inflation Most Remember Things
A higher standard of living also brings about a higher standard of culture and civilization.
LUDWIG VON MISES

Civilization Cultural Higher Living Standard
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
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
Capitalism gave the world what it needed, a higher standard of living for a steadily increasing number of people.
LUDWIG VON MISES

Capitalism Need Number People Standard Steadily World
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
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

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