--- title: "10 Factors Quotes By Ludwig von Mises" description: "10 Factors quotes by Ludwig von Mises. Plus more from Ludwig von Mises and more Factors sayings from other authors." image: "https://sms4smile.com/quotes/i/a7f/ludwig-von-mises-364_ability_the-flowering-of-human-society-depends-o_2237286.png" --- > [The flowering of human society depends on two factors: the intellectual power of outstanding men to conceive sound social and economic theories,…](https://sms4smile.com/quotes/ludwig-von-mises/the-flowering-of-human-society-depends-on-two-factors-the/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) [Image](https://sms4smile.com/quotes/i/a7f/ludwig-von-mises-364_ability_the-flowering-of-human-society-depends-o_2237286.png) > [ It is not enough for \[the investor\] to know all the factors that can possibly contribute to the determination of a future… ](https://sms4smile.com/quotes/ludwig-von-mises/it-is-not-enough-for-the-investor-to-know-all-the-factors-that-can/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) [Image](https://sms4smile.com/quotes/i/474/ludwig-von-mises-364_anticipate_it-is-not-enough-for-the-investor-to-kno_938558.png) > [On the unhampered market there prevails an irresistible tendency to employ every factor of production for the best possible satisfaction of the…](https://sms4smile.com/quotes/ludwig-von-mises/on-the-unhampered-market-there-prevails-an-irresistible-tendency-to/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) [Image](https://sms4smile.com/quotes/i/ab1/ludwig-von-mises-364_consumers_on-the-unhampered-market-there-prevails_514142.jpg) > [The boom squanders through malinvestment scarce factors of production and reduces the stock available through overconsumption; its alleged blessings are paid for…](https://sms4smile.com/quotes/ludwig-von-mises/the-boom-squanders-through-malinvestment-scarce-factors-of-production/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) [Image](https://sms4smile.com/quotes/i/f33/ludwig-von-mises-364_available_the-boom-squanders-through-malinvestment_83229.png) > [It is inherent in the nature of the capitalistic economy that, in the final analysis, the employment of the factors of production…](https://sms4smile.com/quotes/ludwig-von-mises/it-is-inherent-in-the-nature-of-the-capitalistic-economy-that-in-the/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) [Image](https://sms4smile.com/quotes/i/48f/ludwig-von-mises-364_analysis_it-is-inherent-in-the-nature-of-the-capi_1741053.png) > [Thoughts and ideas are not phantoms. They are real things. Although intangible and immaterial, they are factors in bringing about changes in…](https://sms4smile.com/quotes/ludwig-von-mises/thoughts-and-ideas-are-not-phantoms-they-are-real-things-although/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) [Image](https://sms4smile.com/quotes/i/279/ludwig-von-mises-364_factors_thoughts-and-ideas-are-not-phantoms-they_1358809.png) > [The luxury of today is the necessity of tomorrow. Every advance first comes into being as the luxury of a few rich…](https://sms4smile.com/quotes/ludwig-von-mises/the-luxury-of-today-is-the-necessity-of-tomorrow-every-advance-first/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) [Image](https://sms4smile.com/quotes/i/f2a/ludwig-von-mises-364_consumption_the-luxury-of-today-is-the-necessity-of_1516578.png) > [We do not assert that the capitalist mode of economic calculation guarantees the absolutely best solution of the allocation of factors of…](https://sms4smile.com/quotes/ludwig-von-mises/we-do-not-assert-that-the-capitalist-mode-of-economic-calculation/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) [Image](https://sms4smile.com/quotes/i/2fc/ludwig-von-mises-364_ability_we-do-not-assert-that-the-capitalist-mod_1621535.jpg) > [One day, because they realize for some reason or other that they must stop credit expansion, the banks do stop creating new…](https://sms4smile.com/quotes/ludwig-von-mises/one-day-because-they-realize-for-some-reason-or-other-that-they-must/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) [Image](https://sms4smile.com/quotes/i/5d9/ludwig-von-mises-364_bills_one-day-because-they-realize-for-some-re_741880.png) > [The characteristic feature of militarism is not the fact that a nation has a powerful army or navy. It is the paramount…](https://sms4smile.com/quotes/ludwig-von-mises/the-characteristic-feature-of-militarism-is-not-the-fact-that-a/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) [Image](https://sms4smile.com/quotes/i/119/ludwig-von-mises-364_army_the-characteristic-feature-of-militarism_1076386.png) ## Other authors on Factors ## More by Ludwig von Mises > [If the members of parliament no longer consider themselves mandatories of the taxpayers but deputies of those receiving salaries, wages, subsidies, doles, and other…](https://sms4smile.com/quotes/ludwig-von-mises/if-the-members-of-parliament-no-longer-consider-themselves/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) > [Changes in human conditions are brought about by the pioneering of the cleverest and most energetic men. They take the lead and the rest…](https://sms4smile.com/quotes/ludwig-von-mises/changes-in-human-conditions-are-brought-about-by-the-pioneering-of/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) > [During the 2300 years since Plato, very little opposition has been registered to his ideas.](https://sms4smile.com/quotes/ludwig-von-mises/during-the-2300-years-since-plato-very-little-opposition-has-been/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) > [“How little one is justified in speaking in this connection of "optimism" and "pessimism" and how much the characterization of liberalism as "optimistic" aims…](https://sms4smile.com/quotes/ludwig-von-mises/how-little-one-is-justified-in-speaking-in-this-connection-of/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) > [Every step by which an individual substitutes concerted action for isolated action results in an immediate and recognizable improvement in his conditions. The advantages…](https://sms4smile.com/quotes/ludwig-von-mises/every-step-by-which-an-individual-substitutes-concerted-action-for/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) > [The capitalistic social order, therefore, is an economic democracy in the strictest sense of the word. In the last analysis, all decisions are dependent…](https://sms4smile.com/quotes/ludwig-von-mises/the-capitalistic-social-order-therefore-is-an-economic-democracy-in/) [Ludwig von Mises](https://sms4smile.com/quotes/author/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 our sense…](https://sms4smile.com/quotes/ludwig-von-mises/without-calculation-economic-activity-is-impossible-since-under/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) > [There is no kind of freedom and liberty other than the kind which the market economy brings about.](https://sms4smile.com/quotes/ludwig-von-mises/there-is-no-kind-of-freedom-and-liberty-other-than-the-kind-which-the/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) > [Peace and not war is the father of all things.](https://sms4smile.com/quotes/ludwig-von-mises/peace-and-not-war-is-the-father-of-all-things/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) > [What counts alone is the innovator, the dissenter, the harbinger of things unheard of, the man who rejects the traditional standards and aims at…](https://sms4smile.com/quotes/ludwig-von-mises/what-counts-alone-is-the-innovator-the-dissenter-the-harbinger-of/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) > [In reality no food is valued solely for its nutritive power and no garment or house solely for the protection it affords against cold…](https://sms4smile.com/quotes/ludwig-von-mises/in-reality-no-food-is-valued-solely-for-its-nutritive-power-and-no/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) > [All this talk: the state should do this or that, ultimately means: the police should force consumers to behave otherwise than they would behave…](https://sms4smile.com/quotes/ludwig-von-mises/all-this-talk-the-state-should-do-this-or-that-ultimately-means-the/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) > [The most successful businessmen were often uneducated when measured by the scholastic standards of the teaching profession. But they were equal to their social…](https://sms4smile.com/quotes/ludwig-von-mises/the-most-successful-businessmen-were-often-uneducated-when-measured/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) > [Two hundred years ago, before the advent of capitalism, a man's social status was fixed from the beginning to the end of his life;…](https://sms4smile.com/quotes/ludwig-von-mises/two-hundred-years-ago-before-the-advent-of-capitalism-a-man-s-social/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) > [Facts per se can neither prove nor refute anything. Everything is decided by the interpretation and explanation of the facts, by the ideas and…](https://sms4smile.com/quotes/ludwig-von-mises/facts-per-se-can-neither-prove-nor-refute-anything-everything-is/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "ItemList", "@id": "https://sms4smile.com/quotes/about/factors/ludwig-von-mises/#itemlist", "name": "10 Factors Quotes By Ludwig von Mises", "numberOfItems": 10, "itemListElement": [ { "@type": "ListItem", "position": 1, "item": { "@type": "Quotation", "text": "The flowering of human society depends on two factors: the intellectual power of outstanding men to conceive sound social and economic theories, and the ability of these or other men to make these ideologies palatable to the majority.", "creator": { "@type": "Person", "name": "Ludwig von Mises" }, "url": "https://sms4smile.com/quotes/ludwig-von-mises/the-flowering-of-human-society-depends-on-two-factors-the/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/a7f/ludwig-von-mises-364_ability_the-flowering-of-human-society-depends-o_2237286.png", "contentUrl": "https://sms4smile.com/quotes/i/a7f/ludwig-von-mises-364_ability_the-flowering-of-human-society-depends-o_2237286.png", "url": "https://sms4smile.com/quotes/i/a7f/ludwig-von-mises-364_ability_the-flowering-of-human-society-depends-o_2237286.png", "width": 1080, "height": 1080, "caption": "“The flowering of human society depends on two factors: the intellectual power of outstanding men to conceive…” — Ludwig von Mises", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 2, "item": { "@type": "Quotation", "text": "It is not enough for [the investor] to know all the factors that can possibly contribute to the determination of a future event. 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If the government interfered with this process, it can only impair satisfaction; it can never improve it.", "creator": { "@type": "Person", "name": "Ludwig von Mises" }, "url": "https://sms4smile.com/quotes/ludwig-von-mises/on-the-unhampered-market-there-prevails-an-irresistible-tendency-to/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/ab1/ludwig-von-mises-364_consumers_on-the-unhampered-market-there-prevails_514142.jpg", "contentUrl": "https://sms4smile.com/quotes/i/ab1/ludwig-von-mises-364_consumers_on-the-unhampered-market-there-prevails_514142.jpg", "url": "https://sms4smile.com/quotes/i/ab1/ludwig-von-mises-364_consumers_on-the-unhampered-market-there-prevails_514142.jpg", "width": 1080, "height": 1080, "caption": "“On the unhampered market there prevails an irresistible tendency to employ every factor of production for…” — Ludwig von Mises", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 4, "item": { "@type": "Quotation", "text": "The boom squanders through malinvestment scarce factors of production and reduces the stock available through overconsumption; its alleged blessings are paid for by impoverishment.", "creator": { "@type": "Person", "name": "Ludwig von Mises" }, "url": "https://sms4smile.com/quotes/ludwig-von-mises/the-boom-squanders-through-malinvestment-scarce-factors-of-production/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/f33/ludwig-von-mises-364_available_the-boom-squanders-through-malinvestment_83229.png", "contentUrl": "https://sms4smile.com/quotes/i/f33/ludwig-von-mises-364_available_the-boom-squanders-through-malinvestment_83229.png", "url": "https://sms4smile.com/quotes/i/f33/ludwig-von-mises-364_available_the-boom-squanders-through-malinvestment_83229.png", "width": 1080, "height": 1080, "caption": "“The boom squanders through malinvestment scarce factors of production and reduces the stock available…” — Ludwig von Mises", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 5, "item": { "@type": "Quotation", "text": "It is inherent in the nature of the capitalistic economy that, in the final analysis, the employment of the factors of production is aimed only toward serving the wishes of consumers.", "creator": { "@type": "Person", "name": "Ludwig von Mises" }, "url": "https://sms4smile.com/quotes/ludwig-von-mises/it-is-inherent-in-the-nature-of-the-capitalistic-economy-that-in-the/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/48f/ludwig-von-mises-364_analysis_it-is-inherent-in-the-nature-of-the-capi_1741053.png", "contentUrl": "https://sms4smile.com/quotes/i/48f/ludwig-von-mises-364_analysis_it-is-inherent-in-the-nature-of-the-capi_1741053.png", "url": "https://sms4smile.com/quotes/i/48f/ludwig-von-mises-364_analysis_it-is-inherent-in-the-nature-of-the-capi_1741053.png", "width": 1080, "height": 1080, "caption": "“It is inherent in the nature of the capitalistic economy that, in the final analysis, the employment of the…” — Ludwig von Mises", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 6, "item": { "@type": "Quotation", "text": "Thoughts and ideas are not phantoms. They are real things. Although intangible and immaterial, they are factors in bringing about changes in the realm of tangible and material things.", "creator": { "@type": "Person", "name": "Ludwig von Mises" }, "url": "https://sms4smile.com/quotes/ludwig-von-mises/thoughts-and-ideas-are-not-phantoms-they-are-real-things-although/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/279/ludwig-von-mises-364_factors_thoughts-and-ideas-are-not-phantoms-they_1358809.png", "contentUrl": "https://sms4smile.com/quotes/i/279/ludwig-von-mises-364_factors_thoughts-and-ideas-are-not-phantoms-they_1358809.png", "url": "https://sms4smile.com/quotes/i/279/ludwig-von-mises-364_factors_thoughts-and-ideas-are-not-phantoms-they_1358809.png", "width": 1080, "height": 1080, "caption": "“Thoughts and ideas are not phantoms. They are real things. Although intangible and immaterial, they are…” — Ludwig von Mises", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 7, "item": { "@type": "Quotation", "text": "The luxury of today is the necessity of tomorrow. Every advance first comes into being as the luxury of a few rich people, only to become, after a time, an indispensable necessity taken for granted by everyone. Luxury consumption provides industry with the stimulus to discover and introduce new, things. It is one of the dynamic factors in our economy. To it we owe the progressive innovations by which the standard of living of all strata of the population has been gradually raised.", "creator": { "@type": "Person", "name": "Ludwig von Mises" }, "url": "https://sms4smile.com/quotes/ludwig-von-mises/the-luxury-of-today-is-the-necessity-of-tomorrow-every-advance-first/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/f2a/ludwig-von-mises-364_consumption_the-luxury-of-today-is-the-necessity-of_1516578.png", "contentUrl": "https://sms4smile.com/quotes/i/f2a/ludwig-von-mises-364_consumption_the-luxury-of-today-is-the-necessity-of_1516578.png", "url": "https://sms4smile.com/quotes/i/f2a/ludwig-von-mises-364_consumption_the-luxury-of-today-is-the-necessity-of_1516578.png", "width": 1080, "height": 1080, "caption": "“The luxury of today is the necessity of tomorrow. Every advance first comes into being as the luxury of a…” — Ludwig von Mises", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 8, "item": { "@type": "Quotation", "text": "We do not assert that the capitalist mode of economic calculation guarantees the absolutely best solution of the allocation of factors of production. Such absolutely perfect solutions of any problem are out of reach of mortal men. What the operation of a market not sabotaged by the interference of compulsion and coercion can bring about is merely the best solution accessible to the human mind under the given state of technological knowledge and the intellectual abilities of the age's shrewdest men.", "creator": { "@type": "Person", "name": "Ludwig von Mises" }, "url": "https://sms4smile.com/quotes/ludwig-von-mises/we-do-not-assert-that-the-capitalist-mode-of-economic-calculation/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/2fc/ludwig-von-mises-364_ability_we-do-not-assert-that-the-capitalist-mod_1621535.jpg", "contentUrl": "https://sms4smile.com/quotes/i/2fc/ludwig-von-mises-364_ability_we-do-not-assert-that-the-capitalist-mod_1621535.jpg", "url": "https://sms4smile.com/quotes/i/2fc/ludwig-von-mises-364_ability_we-do-not-assert-that-the-capitalist-mod_1621535.jpg", "width": 1080, "height": 1080, "caption": "“We do not assert that the capitalist mode of economic calculation guarantees the absolutely best solution of…” — Ludwig von Mises", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 9, "item": { "@type": "Quotation", "text": "One day, because they realize for some reason or other that they must stop credit expansion, the banks do stop creating new credit to lend. Then the firms that have expanded cannot get credit to pay for the factors of production necessary for the completion of the investment projects which they have already committed themselves. Because they cannot pay their bills, they sell off their inventories cheap. Then comes the panic, the breakdown. And the depression starts.", "creator": { "@type": "Person", "name": "Ludwig von Mises" }, "url": "https://sms4smile.com/quotes/ludwig-von-mises/one-day-because-they-realize-for-some-reason-or-other-that-they-must/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/5d9/ludwig-von-mises-364_bills_one-day-because-they-realize-for-some-re_741880.png", "contentUrl": "https://sms4smile.com/quotes/i/5d9/ludwig-von-mises-364_bills_one-day-because-they-realize-for-some-re_741880.png", "url": "https://sms4smile.com/quotes/i/5d9/ludwig-von-mises-364_bills_one-day-because-they-realize-for-some-re_741880.png", "width": 1080, "height": 1080, "caption": "“One day, because they realize for some reason or other that they must stop credit expansion, the banks do…” — Ludwig von Mises", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 10, "item": { "@type": "Quotation", "text": "The characteristic feature of militarism is not the fact that a nation has a powerful army or navy. It is the paramount role assigned to the army within the political structure. Even in peacetime the army is supreme; it is the predominant factor in political life. The subjects must obey the government as soldiers must obey their superiors. Within a militarist community there is no freedom; there are only obedience and discipline.", "creator": { "@type": "Person", "name": "Ludwig von Mises" }, "url": "https://sms4smile.com/quotes/ludwig-von-mises/the-characteristic-feature-of-militarism-is-not-the-fact-that-a/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/119/ludwig-von-mises-364_army_the-characteristic-feature-of-militarism_1076386.png", "contentUrl": "https://sms4smile.com/quotes/i/119/ludwig-von-mises-364_army_the-characteristic-feature-of-militarism_1076386.png", "url": "https://sms4smile.com/quotes/i/119/ludwig-von-mises-364_army_the-characteristic-feature-of-militarism_1076386.png", "width": 1080, "height": 1080, "caption": "“The characteristic feature of militarism is not the fact that a nation has a powerful army or navy. It is…” — Ludwig von Mises", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } } ] }, { "@type": "CollectionPage", "@id": "https://sms4smile.com/quotes/about/factors/ludwig-von-mises/#webpage", "url": "https://sms4smile.com/quotes/about/factors/ludwig-von-mises/", "name": "Factors Quotes by Ludwig von Mises", "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "mainEntity": { "@id": "https://sms4smile.com/quotes/about/factors/ludwig-von-mises/#itemlist" }, "primaryImageOfPage": { "@id": "https://sms4smile.com/quotes/i/a7f/ludwig-von-mises-364_ability_the-flowering-of-human-society-depends-o_2237286.png" }, "description": "10 Factors quotes by Ludwig von Mises. 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