Economics Quotes by Ludwig von Mises

The market economy as such does not respect political frontiers. Its field is the world.

— Ludwig von Mises

There is no kind of freedom and liberty other than the kind which the market economy brings about.

— Ludwig von Mises

Under capitalism everybody provides for their own needs by serving others.

— Ludwig von Mises

Socialism is the renunciation of rational economy.

— Ludwig von Mises

The system that would stand midway between capitalism and socialism.

— Ludwig von Mises

The real bosses, in the capitalist system of market economy, are the consumers.

— Ludwig von Mises

The inequality of income and fortunes is essential in capitalism.

— Ludwig von Mises

“Socialism is an alternative to capitalism as potassium cyanide is an alternative to water.”

— Ludwig von Mises

As the science of economics...exploded the fallacies of every brand of utopianism, it was outlawed and stigmatized as unscientific.

— Ludwig von Mises

Depressions and mass unemployment are not caused by the free market but by government interference in the economy.

— Ludwig von Mises

The word "Capitalism" expresses, for our age, the sum of all evil. Even the opponents of Socialism are dominated by socialist ideas.

— Ludwig von Mises

Capitalism needs neither propaganda nor apostles. Its achievements speak for themselves. Capitalism delivers the goods.

— Ludwig von Mises

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

— Ludwig von Mises

All people, however fanatical they may be in their zeal to disparage and to fight capitalism, implicitly pay homage to it by…

— Ludwig von Mises

[E]conomic history is a long record of government policies that failed because they were designed with a bold disregard for the laws…

— Ludwig von Mises

For it is an essential difference between capitalist and socialist production that under capitalism men provide for themselves, while under Socialism they…

— Ludwig von Mises

The unpopularity of economics is the result of its analysis of the effects of privileges. It is impossible to invalidate the economists…

— Ludwig von Mises

It is certain that many intellectuals envy the higher income of prosperous businessmen and that these feelings drive them toward socialism. They…

— Ludwig von Mises

The main achievement of economics is that it has provided a theory of peaceful human cooperation. This is why the harbingers of…

— Ludwig von Mises

There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether…

— Ludwig von Mises

No very deep knowledge of economics is usually needed for grasping the immediate effects of a measure; but the task of economics…

— Ludwig von Mises

“It is illogical to say, as many etatists do, that liberalism is hostile to or hates the state, because it is opposed…

— Ludwig von Mises

Once it has been perceived that the division of labour is the essence of society, nothing remains of the antithesis between individual…

— Ludwig von Mises

Public opinion takes no offense at the endeavors of farmers, workers, clerks, teachers, doctors, ministers, and people from many other callings to…

— Ludwig von Mises

The luxury of today is the necessity of tomorrow. Every advance first comes into being as the luxury of a few rich…

— Ludwig von Mises

Used to the conditions of a capitalistic environment, the average American takes it for granted that every year business makes something new…

— Ludwig von Mises

The interventionists do not approach the study of economic matters with scientific disinterestedness. Most of them are driven by an envious resentment…

— Ludwig von Mises

“The social function of economic science consists precisely in developing sound economic theories and in exploding the fallacies of vicious reasoning. In…

— Ludwig Von Mises

The truth is that capitalism has not only multiplied population figures, but at the same time, improved the people's standard of living…

— Ludwig von Mises

The main propoganda trick of supporters of the allegedly "progressive" policy of government control is to blame capitalism for all that is…

— Ludwig von Mises

Inequality of wealth and incomes is an essential feature of the market economy. It is the implement that makes the consumers supreme…

— Ludwig von Mises

Without calculation, economic activity is impossible. Since under Socialism economic calculation is impossible, under Socialism there can be no economic activity in…

— Ludwig von Mises

“In the market economy the consumers are supreme. Consumers determine, by their buying or abstention from buying, what should be produced, by…

— Ludwig Von Mises

“It is irrelevant to the entrepreneur, as the servant of the consumers, whether the wishes and wants of the consumers are wise…

— Ludwig Von Mises

“Therefore it is not arrogance or narrow-mindedness that leads the economist to discuss these things from the standpoint of economics. No one,…

— Ludwig Von Mises

“Nonetheless, many people, and especially intellectuals, passionately loathe capitalism. As they see it, this ghastly mode of society’s economic organization has brought…

— Ludwig Von Mises

“Nothing is more unpopular today than the free market economy, i.e., capitalism. Everything that is considered unsatisfactory in present-day conditions is charged…

— Ludwig von Mises

“These people look upon inequality as upon an evil. They do not assert that a definite degree of inequality which can be…

— Ludwig Von Mises

Aggressors cannot wage total war without introducing Socialism.

— Ludwig von Mises

Under capitalism everybody is the architect of his own fortune.

— Ludwig von Mises