---
title: "40 Productions Quotes By Ludwig von Mises"
description: "40 Productions quotes by Ludwig von Mises. Plus more from Ludwig von Mises and more Productions sayings from other authors."
image: "https://sms4smile.com/quotes/i/f21/ludwig-von-mises-364_capitalism_in-spite-of-the-anticapitalistic-policie_1068054.png"
---

> [In spite of the anticapitalistic policies of all governments and of almost all political parties, the capitalist mode of production](https://sms4smile.com/quotes/ludwig-von-mises/in-spite-of-the-anticapitalistic-policies-of-all-governments-and-of/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/f21/ludwig-von-mises-364_capitalism_in-spite-of-the-anticapitalistic-policie_1068054.png)

> [Society is best served when the means of production are in the possession of those who know how to use them best.](https://sms4smile.com/quotes/ludwig-von-mises/society-is-best-served-when-the-means-of-production-are-in-the/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/0c2/ludwig-von-mises-364_community_society-is-best-served-when-the-means-of_3150513.png)

> [For it is an essential difference between capitalist and socialist production that under capitalism men provide for themselves, while under Socialism they…](https://sms4smile.com/quotes/ludwig-von-mises/for-it-is-an-essential-difference-between-capitalist-and-socialist/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/d7d/ludwig-von-mises-364_capitalism_for-it-is-an-essential-difference-betwee_1252409.png)

> [Capitalism or market economy is that system of social cooperation and division of labor that is based on private ownership of the…](https://sms4smile.com/quotes/ludwig-von-mises/capitalism-or-market-economy-is-that-system-of-social-cooperation-and/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/2fb/ludwig-von-mises-364_capitalism_capitalism-or-market-economy-is-that-sys_2656185.png)

> [A free press can only exist where there is private control over the means of production](https://sms4smile.com/quotes/ludwig-von-mises/a-free-press-can-only-exist-where-there-is-private-control-over-the/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/185/ludwig-von-mises-364_free-press_a-free-press-can-only-exist-where-there_1551969.png)

> [Whoever prefers life to death, happiness to suffering, well-being to misery must defend without compromise private ownership in the means of production.](https://sms4smile.com/quotes/ludwig-von-mises/whoever-prefers-life-to-death-happiness-to-suffering-well-being-to/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/83c/ludwig-von-mises-364_compromise_whoever-prefers-life-to-death-happiness_1800066.jpg)

> [Production is not something physical, material, and external; it is a spiritual and intellectual phenomenon.](https://sms4smile.com/quotes/ludwig-von-mises/production-is-not-something-physical-material-and-external-it-is-a/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/bb3/ludwig-von-mises-364_business_production-is-not-something-physical-mat_1208723.png)

> [The sharper the competition, the better it serves its social function to improve economic production.](https://sms4smile.com/quotes/ludwig-von-mises/the-sharper-the-competition-the-better-it-serves-its-social-function/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/413/ludwig-von-mises-364_competition_the-sharper-the-competition-the-better-i_2184231.png)

> [The most successful businessmen were often uneducated when measured by the scholastic standards of the teaching profession. But they were equal to…](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/)

[Image](https://sms4smile.com/quotes/i/810/ludwig-von-mises-364_adjusting_the-most-successful-businessmen-were-oft_40281.jpg)

> [When we call a capitalist society a consumers democracy we mean that the power to dispose of the means of production, which…](https://sms4smile.com/quotes/ludwig-von-mises/when-we-call-a-capitalist-society-a-consumers-democracy-we-mean-that/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/640/ludwig-von-mises-364_ballots_when-we-call-a-capitalist-society-a-cons_1390163.png)

> [The market economy is the social system of the division of labor under private ownership of the means of production. Everybody acts…](https://sms4smile.com/quotes/ludwig-von-mises/the-market-economy-is-the-social-system-of-the-division-of-labor/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/4da/ludwig-von-mises-364_acting_the-market-economy-is-the-social-system_2285912.png)

> [The genuine history of mankind is the history of ideas. It is ideas that distinguish man from all other beings. Ideas engender…](https://sms4smile.com/quotes/ludwig-von-mises/the-genuine-history-of-mankind-is-the-history-of-ideas-it-is-ideas/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/816/ludwig-von-mises-364_conditions_the-genuine-history-of-mankind-is-the-hi_783932.png)

> [Capitalism means free enterprise, sovereignty of the consumers in economic matters, and sovereignty of the voters in political matters. Socialism means full…](https://sms4smile.com/quotes/ludwig-von-mises/capitalism-means-free-enterprise-sovereignty-of-the-consumers-in/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/f2d/ludwig-von-mises-364_boards_capitalism-means-free-enterprise-soverei_1453859.jpg)

> [Plato and Hitler were both the same kind of consistent socialists who planned also for the production of future socialists, the breeding…](https://sms4smile.com/quotes/ludwig-von-mises/plato-and-hitler-were-both-the-same-kind-of-consistent-socialists-who/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/01c/ludwig-von-mises-364_breeding_plato-and-hitler-were-both-the-same-kind_2892052.jpg)

> [The market steers the capitalistic economy. It directs each individual's activities into those channels in which he best serves the wants of…](https://sms4smile.com/quotes/ludwig-von-mises/the-market-steers-the-capitalistic-economy-it-directs-each-individual/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/f56/ludwig-von-mises-364_activity_the-market-steers-the-capitalistic-econo_2664006.png)

> [The foundation of any and every civilization, including our own, is private ownership of the means of production. Whoever wishes to criticize…](https://sms4smile.com/quotes/ludwig-von-mises/the-foundation-of-any-and-every-civilization-including-our-own-is/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/1df/ludwig-von-mises-364_civilization_the-foundation-of-any-and-every-civiliza_2114864.png)

> [Socialism is not in the least what it pretends to be. It is not the pioneer of a better and finer world,…](https://sms4smile.com/quotes/ludwig-von-mises/socialism-is-not-in-the-least-what-it-pretends-to-be-it-is-not-the/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/ac6/ludwig-von-mises-364_capitalism_socialism-is-not-in-the-least-what-it-pr_2824197.png)

> [If history could prove and teach us anything, it would be the private ownership of the means of production as a necessary…](https://sms4smile.com/quotes/ludwig-von-mises/if-history-could-prove-and-teach-us-anything-it-would-be-the-private/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/232/ludwig-von-mises-364_achievement_if-history-could-prove-and-teach-us-anyt_1838638.png)

> [Capitalism is essentially a system of mass production for the satisfaction of the needs of the masses. It pours a horn of…](https://sms4smile.com/quotes/ludwig-von-mises/capitalism-is-essentially-a-system-of-mass-production-for-the/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/e7e/ludwig-von-mises-364_age_capitalism-is-essentially-a-system-of-ma_1736967.jpg)

> [The goal of liberalism is the peaceful cooperation of all men. It aims at peace among nations too. When there is private…](https://sms4smile.com/quotes/ludwig-von-mises/the-goal-of-liberalism-is-the-peaceful-cooperation-of-all-men-it-aims/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/7cc/ludwig-von-mises-364_administration_the-goal-of-liberalism-is-the-peaceful-c_2793544.jpg)

> [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)

> [ The \[liberals\] consider profits as objectionable. The very existence of profits is in their eyes a proof that wage rates could be… ](https://sms4smile.com/quotes/ludwig-von-mises/the-liberals-consider-profits-as-objectionable-the-very-existence-of/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/b1d/ludwig-von-mises-364_abolish_the-liberals-consider-profits-as-objecti_187906.png)

> [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)

> [Lenin's ideal was to build a nation's production effort according to the model of the post office.](https://sms4smile.com/quotes/ludwig-von-mises/lenin-s-ideal-was-to-build-a-nation-s-production-effort-according-to/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/513/ludwig-von-mises-364_effort_lenin-s-ideal-was-to-build-a-nation-s-pr_1094516.png)

> [The productivity of social cooperation surpasses in every respect the sum total of the production of isolated individuals.](https://sms4smile.com/quotes/ludwig-von-mises/the-productivity-of-social-cooperation-surpasses-in-every-respect-the/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/727/ludwig-von-mises-364_cooperation_the-productivity-of-social-cooperation-s_3208395.png)

> [The direction of all economic affairs is in the market society a task of the entrepreneurs. Theirs is the control of production.…](https://sms4smile.com/quotes/ludwig-von-mises/the-direction-of-all-economic-affairs-is-in-the-market-society-a-task-2/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/ff3/ludwig-von-mises-364_affair_the-direction-of-all-economic-affairs-is_2041677.png)

> [This dilettantish inability to comprehend the essential issues of the conduct of production affairs is not only manifested in the writings of…](https://sms4smile.com/quotes/ludwig-von-mises/this-dilettantish-inability-to-comprehend-the-essential-issues-of-the/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/299/ludwig-von-mises-364_affair_this-dilettantish-inability-to-comprehen_2553663.png)

> [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)

> [What is needed for a sound expansion of production is additional capital goods, not money or fiduciary media. The credit expansion is…](https://sms4smile.com/quotes/ludwig-von-mises/what-is-needed-for-a-sound-expansion-of-production-is-additional/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/9b6/ludwig-von-mises-364_built_what-is-needed-for-a-sound-expansion-of_2796137.jpg)

> [There is simply no other choice than this: either to abstain from interference in the free play of the market, or to…](https://sms4smile.com/quotes/ludwig-von-mises/there-is-simply-no-other-choice-than-this-either-to-abstain-from/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/e46/ludwig-von-mises-364_capitalism_there-is-simply-no-other-choice-than-thi_1731164.jpg)

> [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 characteristic feature of capitalism that distinguishes it from pre-capitalist methods of production was its new principle of marketing. Capitalism is not…](https://sms4smile.com/quotes/ludwig-von-mises/the-characteristic-feature-of-capitalism-that-distinguishes-it-from/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/608/ludwig-von-mises-364_capitalism_the-characteristic-feature-of-capitalism_934211.png)

> [Capitalism and socialism are two distinct patterns of social organization. Private control of the means of production and public control are contradictory…](https://sms4smile.com/quotes/ludwig-von-mises/capitalism-and-socialism-are-two-distinct-patterns-of-social/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/61e/ludwig-von-mises-364_capitalism_capitalism-and-socialism-are-two-distinc_518121.png)

> [The capitalist system of production is an economic democracy in which every penny gives a right to vote. The consumers are the…](https://sms4smile.com/quotes/ludwig-von-mises/the-capitalist-system-of-production-is-an-economic-democracy-in-which/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/b8d/ludwig-von-mises-364_business_the-capitalist-system-of-production-is-a_1816621.png)

> [The characteristic feature of modern capitalism is mass production of goods destined for consumption by the masses. The result is a tendency…](https://sms4smile.com/quotes/ludwig-von-mises/the-characteristic-feature-of-modern-capitalism-is-mass-production-of/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/c19/ludwig-von-mises-364_average_the-characteristic-feature-of-modern-cap_218800.png)

> [A nation cannot prosper if its members are not fully aware of the fact that what alone can improve their condition s…](https://sms4smile.com/quotes/ludwig-von-mises/a-nation-cannot-prosper-if-its-members-are-not-fully-aware-of-the/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/20b/ludwig-von-mises-364_accumulation_a-nation-cannot-prosper-if-its-members-a_717867.png)

> [The socialist system, however, forbids this fundamental freedom to choose one's own career. Under socialist conditions, there is only one economic authority,…](https://sms4smile.com/quotes/ludwig-von-mises/the-socialist-system-however-forbids-this-fundamental-freedom-to/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/392/ludwig-von-mises-364_authority_the-socialist-system-however-forbids-thi_980102.png)

> [Under a socialist mode of production all personal incentives which selfishness provides under capitalism are removed, and a premium is put upon…](https://sms4smile.com/quotes/ludwig-von-mises/under-a-socialist-mode-of-production-all-personal-incentives-which/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/b4a/ludwig-von-mises-364_capitalism_under-a-socialist-mode-of-production-all_2890887.png)

> [What matters is not the allocation of portions out of a fund presented to man by nature. The problem is rather to…](https://sms4smile.com/quotes/ludwig-von-mises/what-matters-is-not-the-allocation-of-portions-out-of-a-fund/)

[Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/)

[Image](https://sms4smile.com/quotes/i/24b/ludwig-von-mises-364_allocation_what-matters-is-not-the-allocation-of-po_1698894.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)

## Other authors on Productions

## 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/)

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                        "text": "The foundation of any and every civilization, including our own, is private ownership of the means of production. Whoever wishes to criticize modern civilization, therefore, begins with private property.",
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                        "text": "Socialism is not in the least what it pretends to be. It is not the pioneer of a better and finer world, but the spoiler of what thousands of years of civilization have created. It does not build, it destroys. 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.",
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                        "text": "If history could prove and teach us anything, it would be the private ownership of the means of production as a necessary requisite of civilization and material well-being. All civilizations have up to now been based on private property. Only nations committed to the principle of private property have risen above penury and produced science, art, and literature. There is no experience to show that any other social system could provide mankind with any of the achievements of civilization.",
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                        "text": "Capitalism is essentially a system of mass production for the satisfaction of the needs of the masses. It pours a horn of plenty upon the common man. It has raised the average standard of living to a height never dreamed of in earlier ages. It has made accessible to millions of people enjoyments which a few generations ago were only within the reach of a small élite.",
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                        "text": "The goal of liberalism is the peaceful cooperation of all men. It aims at peace among nations too. When there is private ownership of the means of production everywhere and when laws, the tribunals and the administration treat foreigners and citizens on equal terms, it is of little importance where a country's frontiers are drawn... War no longer pays; there is no motive for aggression... All nations can coexist peacefully.",
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                        "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.",
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                        "text": "The [liberals] consider profits as objectionable. The very existence of profits is in their eyes a proof that wage rates could be raised without harm to anybody. They speak of profit without dealing with loss. Profit and loss are the instruments by means of which the consumers keep a tight rein on all business activities. A profitable enterprise tends to expand; an unprofitable one tends to shrink. The elimination of profit renders production rigid and abolishes the consumer's control.",
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                        "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.",
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                        "text": "Lenin's ideal was to build a nation's production effort according to the model of the post office.",
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                        "text": "The productivity of social cooperation surpasses in every respect the sum total of the production of isolated individuals.",
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                        "text": "The direction of all economic affairs is in the market society a task of the entrepreneurs. Theirs is the control of production. They are at the helm and steer the ship. A superficial observer would believe that they are supreme. But they are not. They are bound to obey unconditionally the captain's orders.",
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                        "text": "This dilettantish inability to comprehend the essential issues of the conduct of production affairs is not only manifested in the writings of Marx and Engels. It permeates no less the contributions of contemporary pseudo-economics.",
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                        "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.",
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                        "text": "What is needed for a sound expansion of production is additional capital goods, not money or fiduciary media. The credit expansion is built on the sands of banknotes and deposits. It must collapse.",
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                        "text": "There is simply no other choice than this: either to abstain from interference in the free play of the market, or to delegate the entire management of production and distribution to the government. Either capitalism or socialism: there exists no middle way.",
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