Ludwig von Mises

Economist Austrian-American 1881 – 1973

Developed Austrian school economics emphasizing human action and free markets.

403 quotes

"Work dignifies the human spirit and provides meaning."
Work
"Dreams become reality through dedication and hard work."
Dreams
"Humor is a sign of wisdom and perspective."
Humor
"Beauty awakens us to the wonder of existence."
Beauty
"The most important thing to understand is that inflation is always and everywhere a monetary phenomenon."
Money
"Human action is purposeful behavior. It is the manifestation of a man's will directed at changing the state of affairs."
Philosophy
"There is no such thing as a good government. There is only less bad government."
Politics
"The most serious threat to freedom and civilization comes from the possibility of a government which might gain too much power over the economy and the individual."
Freedom
"War is the health of the state, in the sense that it always expands government power and control."
War
"The businessman is the target of a greater hostility than perhaps any other group in American society."
Work
"Capital is not a tool of production in the hands of capitalists. Capital is the result of successful, saving and investing activity."
Success
"Money is the most liquid and marketable of all commodities, serving as the medium through which all economic transactions occur."
Money
"The consumer is king, and the market respects no authority but the authority of consumer choice."
Power
"Government is force, and when government acts, it acts through force. This is its essential nature."
Politics
"The idea that you can somehow separate economics from the rest of life is a fundamental error."
Philosophy
"In the short run, the market is a voting machine. In the long run, it is a weighing machine."
Success
"Education should not be merely preparation for life; it should be life itself."
Education
"The most intractable problem in the study of society is that of distinguishing the effects of various factors."
Knowledge
"You cannot have a rise in the standard of living without an increase in capital investment per capita."
Work
"Interest is the price of time. It reflects the universal human preference for present goods over future goods."
Time
"The individual is the ultimate and only real agent in any economic system."
Philosophy
"There is no way to avoid the ultimate consequences of our actions. The market will always adjust."
Truth
"Peaceful cooperation is possible only when men are free to pursue their own interests within a framework of law."
Peace
"The free market does not corrupt people; rather, it allows the truly corrupt to be exposed."
Freedom
"A nation can survive its fools, but it cannot survive a majority of fools voting away the rights of the minority."
Politics
"The bureaucrat differs from the businessman in that he is not directly responsible for his errors."
Leadership
"All economic goods are scarce because time is scarce. This is the fundamental economic problem."
Time
"The real determinant of wages is the productivity of labor, not the demands of labor unions."
Work
"A man may be in love with a beautiful woman without this having any effect upon his reasoning."
Love
"The market is not a place, a thing, or a collective entity. It is a process."
Philosophy