Ludwig von Mises
Ludwig von Mises
Ludwig Heinrich Edler von Miseswas a theoretical Austrian School economist. He is best known for his work on praxeology, a study of human choice and action. Mises emigrated from Austria to the United States in 1940. Mises's writings have exerted significant influence on the libertarian movement in the United States since the mid-20th century...
NationalityAustrian
ProfessionEconomist
Date of Birth29 September 1881
CountryAustria
numbers people dollars
Those who satisfy the wants of a smaller number of people only collect fewer votes-dollars-than those who satisfy the wants of more people.
commodity-prices people investing
What people today call inflation is not inflation, i.e., the increase in the quantity of money and money substitutes, but the general rise in commodity prices and wage rates which is the inevitable consequence of inflation.
availability welfare results
No increase in the welfare of the member of society can result from the availability of an additional quantity of money.
industrialization world investment
The prerequisite for more economic equality in the world is industrialization. And this is possible only through increased capital investment, increased capital accumulation.
quota reason-why united-states
What workers must learn is that the only reason why wage rates are higher in the United States is that the per head quota of capital invested is higher.
lacking nations
What is lacking to the underdeveloped nations is not knowledge, but capital.
mistake order important
Monetary calculation is not the calculation, and certainly not the measurement, of value. Its basis is the comparison of the more important and the less important. It is an ordering according to rank, an act of grading (Cuhel), and not an act of measuring. It was a mistake to search for a measure of the value of goods. In the last analysis, economic calculation does not rest on the measurement of values, but on their arrangement in an order of rank.
mistake mean facts
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. Freedom really means the freedom to make mistakes.
unemployment doe granted
Assistance granted to the unemployed does not dispose of unemployment. It makes it easier for the unemployed to remain idle.
capitalist-economy liberty libertarian
Manufacturing and commercial monopolies owe their origin not to a tendency imminent in a capitalist economy but to governmental interventionist policy directed against free trade and laissez faire.
inspirational mean joints
Society is joint action and cooperation in which each participant sees the other partner's success as a means for the attainment of his own.
party games business-deals
In a game there are winners and losers. But a business deal is always advantageous for both parties. If both the buyer and the seller were not to consider the transaction as the most advantageous action they could choose under the prevailing conditions, they would not enter into the deal.
war government asking
Those who are asking for more government interference are asking ultimately for more compulsion and less freedom.
war competition battle
It is merely a metaphor to call competition competitive war, or simply, war. The function of battle is destruction; of competition, construction.