Quotes & Sayings About Austrian Economics

The idea that the government has services or goods that they can pass on is a complete farce. Governments have nothing. They can't create anything, they never have. All they can do is steal from one group and give it to another at the destruction of the principles of freedom, and we ought to challenge that concept. — Ron Paul

Can social progress be made without government?
It's like saying 'can happiness be achieved without the initiation of violence? Can romance be achieved without rape? Can profitability be achieved without theft? Can economic growth be achieved without the mass indebted enslavement and counterfeiting of the federal reserve?'. — Stefan Molyneux

It's great to be with you gun-toting, 10ther, pro-life, Austrian-economics, home-schooling, redoubt-living, Constitutionalist patriots this evening. I think that covers the SPLC's list. — Matt Shea

If any of the socialist chiefs had tried to earn his living by selling hot dogs, he would have learned something about the sovereignty of the consumers. — Ludwig Von Mises

The struggle for freedom is ultimately not resistance to autocrats or oligarchs but resistance to the despotism of public opinion. — Ludwig Von Mises

The safest way to make laws respected is to make them respectable. — Frederic Bastiat

To try to cure unemployment by inflation rather than by adjustment of specific wage-rates is like trying to adjust the piano to the stool rather than the stool to the piano. — Henry Hazlitt

Here's something I still can't get over. Amazes and thrills me every time. I'm sitting here and want a certain book. So I search, click, and then I have the book. Every time, my heart does a little leap of joy. What a beautiful world the market is making. — Jeffrey Tucker

The profit of the one is the profit of the other. — Frederic Bastiat

July 4, the day we celebrate giving our political masters independence from conscience, morality, consequences for evil doing, and basic social and economic reality.
The fireworks are the glowing tears of your children's incinerated futures.
Cheer happy slaves - your only chains are your deluded joys. Cheer and sing, because for you, songs of death are easier than questions of life. — Stefan Molyneux

Government should never be able to do anything you can't do. If you can't steal from your neighbor, you can't send the government to steal for you. — Ron Paul

Free markets are the real people's revolution. — Jeffrey Tucker

It is easy to be conspicuously 'compassionate' if others are being forced to pay the cost. — Murray N. Rothbard

In proportion as you give the state power to do things for you, you give it power to do things to you. — Albert Jay Nock

What is a price? It is a proposed point of agreement between a buyer and seller. The proposal is the key. It is not a marching order. Past prices represent deals done in history. Current prices represent possible deals in the future. Prices embed vast information about perceived realities: resource availability, consumer demand, cultural biases and habits, speculations about the future. The price is also an amazing tool. It provides an objective basis for accounting and the assessment of profit and loss. Without prices, real prices rooted in real market experience, we'd been lost. — Jeffrey Tucker

The military state is the final form to which every planned economy tends rapidly. — Isabel Paterson

It is in war that the State really comes into its own: swelling in power, in number, in pride, in absolute dominion over the economy and the society. — Murray N. Rothbard

Freedom is the foundation for all wonderful things in life. — Jeffrey Tucker

Taxation is the price we pay for failing to build a civilized society. The higher the tax level, the greater the failure. A centrally planned totalitarian state represents a complete defeat for the civilized world, while a totally voluntary society represents its ultimate success. — Mark Skousen

Government is a gang, but not merely as meritorious as a private gang because it claims legal legitimacy. It pillages and uses violence but under the cover of law, and seeks legitimacy not through competition but through the myth of the social contract. — Jeffrey Tucker

There's a huge swath of humanity that has developed verbal abilities to extract resources from guilt-ridden people.
They used to be priests, and now they're leftists. — Stefan Molyneux

To the Austrian economics of subjectivity, time provides an objective foundation. — George Gilder

Moreover, in the system of criminal punishment in the libertarian world, the emphasis would never be, as it is now, on "society's" jailing the criminal; the emphasis would necessarily be on compelling the criminal to make restitution to the victim of his crime. The present system, in which the victim is not recompensed but instead has to pay taxes to support the incarceration of his own attacker - would be evident nonsense in a world that focuses on the defense of property rights and therefore on the victim of crime. — Murray N. Rothbard

The disdain of profit is due to ignorance, and to an attitude that we may if we wish admire in the ascetic who has chosen to be content with a small share of the riches of this world, but which, when actualised in the form of restrictions on profits of others, is selfish to the extent that it imposes asceticism, and indeed deprivations of all sorts, on others. — Friedrich Hayek

I wonder how many such men in America would know that Communism, the New Deal, Fascism, Nazism, are merely so-many trade-names for collectivist Statism, like the trade-names for tooth-pastes which are all exactly alike except for the flavouring. — Albert Jay Nock

I can't resist telling you that when the Vienna Economics Institute celebrated its centennial, many years ago, they invited, as their keynote speaker, my father [John Kenneth Galbraith]. The leading economists of the Austrian school- including von Hayek and von Haberler - returned for the occasion. And so my father took a moment to reflect on the economic triumphs of the Austrian Republic since the war, which, he said, "would not have been possible without the contribution of these men." They nodded - briefly - until it dawned on them what he meant. They'd all left the country in the 1930s. — James K. Galbraith

Taxation is theft, purely and simply even though it is theft on a grand and colossal scale which no acknowledged criminals could hope to match. It is a compulsory seizure of the property of the State's inhabitants, or subjects. — Murray N. Rothbard

The entrepreneur who is reckoning in terms of a currency with a stable value is unable to compete with the entrepreneur who is prepared to make a quasi-gift of part of his capital to his customers. In 1920 and 1921, Dutch traders who had sold commodities to Austria could buy them back again after a while much cheaper than they had originally sold them, because the Austrian traders completely failed to see that they were selling them for less than they had cost. — Ludwig Von Mises

Trade and money, which go together in a stream of energy, inevitably wash away the enclosing walls of a society of status. — Isabel Paterson

I'm not into the whole Austrian type, strongly libertarian economics. I like more mainstream economics — Robert Sarvis

The government is a giant logjam in the eternal river of human potential. — Stefan Molyneux

The welfare of a people lies not in casting other peoples down but in peaceful collaboration. — Ludwig Von Mises

The law is guilty of the evils it is supposed to punish. — Frederic Bastiat

The error in this conclusion may be most simply demonstrated by means of an actual example. Let us select for this purpose the monetary history of Austria, which Laughlin also uses as an illustration. From 1859 onwards the Austrian National Bank was released from the obligation to convert its notes on demand into silver, and nobody could tell when the State paper-money issued in 1866 would be redeemed, or even if it would be redeemed at all. It was not until the later 'nineties that the transition to metallic money was completed by the actual resumption of cash payments on the part of the Austro-Hungarian Bank. — Ludwig Von Mises

It's not an endlessly expanding list of rights - the 'right' to education, the 'right' to health care, the 'right' to food and housing. That's not freedom, that's dependency. Those aren't rights, those are the rations of slavery - hay and a barn for human cattle. — Alexis De Tocqueville

Ultimately, we need to take control over the money supply out of the hands of our governments and make the production of money again subject to the principle of free association. The first step to endorsing and promoting this strategy is to realize that governments do not - indeed cannot - fulfill any positive role whatever through the control of our money. — Jorg Guido Hulsmann

Income inequality has no necessary connection with poverty, the lack of material resources for a decent life, such as adequate food, shelter, and clothing. A society with great income inequality may have no poor people, and a society with no income inequality may have nothing but poor people. — Robert Higgs

No man can rightfully be required to join, or support, an association whose protection he does not desire. — Lysander Spooner

He who is unfit to serve his fellow citizens wants to rule them. — Ludwig Von Mises

Society has arisen out of the works of peace; the essence of society is peacemaking. Peace and not war is the father of all things. Only economic action has created the wealth around us; labor, not the profession of arms, brings happiness. Peace builds, war destroys. — Ludwig Von Mises

Have you ever noticed how statists are constantly "reforming" their own handiwork? Education reform. Health-care reform. Welfare reform. Tax reform. The very fact they're always busy "reforming" is an implicit admission that they didn't get it right the first 50 times. — Lawrence W. Reed

In regard to the so-called social contract, I have often had occasion to protest that I haven't even seen the contract, much less been asked to consent to it. A valid contract requires voluntary offer, acceptance, and consideration. I've never received an offer from my rulers, so I certainly have not accepted one; and rather than consideration, I have received nothing but contempt from the rulers, who, notwithstanding the absence of any agreement, have indubitably threatened me with grave harm in the event that I fail to comply with their edicts. — Robert Higgs

No people and no part of a people shall be held against its will in a political association that it does not want. — Ludwig Von Mises