Great Mises Quotes & Sayings

A third group of inflationists do not deny that inflation involves serious disadvantages. Nevertheless, they think that there are higher and more important aims of economic policy than a sound monetary system. They hold that although inflation may be a great evil, yet it is not the greatest evil, and that the State might under certain circumstances find itself in a position where it would do well to oppose greater evils with the lesser evil of inflation. — Ludwig Von Mises

So far as Feminism seeks to adjust the legal position of woman to that of man, so far as it seeks to offer her legal and economic freedom to develop and act in accordance with her inclinations, desires, and economic circumstances - so far it is nothing more than a branch of the great liberal movement, which advocates peaceful and free evolution. — Ludwig Von Mises

The unpopularity of economics is the result of its analysis of the effects of privileges. It is impossible to invalidate the economists demonstration that all privileges hurt the interests of the rest of the nation or at least a great part of it. — Ludwig Von Mises

If it is unnecessary to adjust the amount of expenditure to the means available, there is no limit to the spending of the great god State. — Ludwig Von Mises

Every man aims at avoiding what causes him pain; the activities of government ultimately consist in the infliction of pain. All great achievements of mankind were the product of a spontaneous effort on the part of individuals; government substitutes coercion for voluntary action. — Ludwig Von Mises

Everyone carries a part of society on his shoulders; no one is relieved of his share of responsibility by others. And no one can find a safe way out for himself if society is sweeping toward destruction. Therefore, everyone, in his own interests, must thrust himself vigorously into the intellectual battle. None can stand aside with unconcern; the interest of everyone hangs on the result. Whether he chooses or not, every man is drawn into the great historical struggle, the decisive battle into which our epoch has plunged us. — Ludwig Von Mises

Political ideas that have dominated the public mind for decades cannot be refuted through rational arguments. They must run their course in life and cannot collapse otherwise than in great catastrophe ... — Ludwig Von Mises

The jurist is totally unacquainted with the problem of the value of money; he knows nothing of fluctuations in its exchange-value. The naive popular belief in the stability of the value of money has been admitted, with all its obscurity, into the law, and no great historical cause of large and sudden variations in the value of money has ever provided. — Ludwig Von Mises

The marginal utility of money to any individual, i.e., the marginal utility derivable from the goods that can be obtained with the given quantity of money or that must be surrendered for the required money, presupposes a certain exchange-value of the money; so the latter cannot be derived from the former. 1 Those who have realized the significance of historically-transmitted values in the determination of the objective exchange-value of money will not find great difficulty in escaping from this apparently circular argument. — Ludwig Von Mises

My theories explain, but cannot slow the decline of a great civilization. I set out to be a reformer, but only became the historian of decline. — Ludwig Von Mises

When jurists and business men assert that the depreciation of money has a very great influence on all kinds of debt relations, that it makes all kinds of business more difficult, or even impossible, that it invariably leads to consequences that nobody desires and that everybody feels to be unjust, we naturally agree with them. In a social order that is entirely founded on the use of money and in which all accounting is done in terms of money, the destruction of the monetary system means nothing less than the destruction of the basis of all exchange. Nevertheless, this evil cannot be counteracted by ad hoc laws designed to remove the burden of the depreciation from single persons, or groups of persons, or classes of the community, — Ludwig Von Mises

What counts is not the data, but the mind that deals with
them. The data that Galileo, Newton, Ricardo, Menger, and
Freud made use of for their great discoveries lay at the disposal
of every one of their contemporaries and of untold previous
generations. Galileo was certainly not the first to observe the
swinging motion of the chandelier in the cathedral at Pisa. — Ludwig Von Mises

It is true that there are important differences between that money which plays the chief part in domestic trade, is the instrument of most exchanges, predominates in the dealings between consumers and sellers of consumption goods, and in loan transactions, and is recognized by the law as legal tender, and that money which is employed in relatively few transactions, is hardly ever used by consumers in their purchases, does not function as an instrument of loan operations, and is not legal tender. In popular opinion, the former money only is domestic money, the latter foreign money. Although we cannot accept this if we do not want to close the way to an understanding of the problem that occupies us, we must nevertheless emphasize that it has great significance in other connexions. — Ludwig Von Mises

The salesman thanks the customer for patronizing his shop and asks him to come again. But the socialists say: Be grateful to Hitler, render thanks to Stalin; be nice and submissive, then the great man will be kind to you later too. — Ludwig Von Mises

Diverting resources into uneconomic uses takes them away from other, more productive areas and costs jobs. Some jobs are lost; others are never created. The uneconomic effects of protectionism benefit a few - usually well-to-do - at the expense of the great majority, including the poor. Protectionism cannot be justified on economic or moral grounds. As Frederic Bastiat wrote, tariffs are "legalized plunder." The law is used to steal. By — Ludwig Von Mises

Markets mean patrons, buyers, consumers. There is under capitalism one way to wealth: to serve the consumers better and cheaper than other people do. But in the shop and factory, the owner - or in the corporations, the representative of the shareholders, the president - is the boss. The mastership is merely apparent and conditional. He is subject to the supremacy of the consumer. The consumer is king - the real boss - and the manufacturer is done for if he does not outstrip his competitors in best serving the consumers. It was this great economic transformation that changed the face of the world. — Ludwig Von Mises

Common man does not speculate about the great problems. With regard to them he relies upon other people's authority, he behaves as every decent fellow must behave,' he is like a sheep in the herd. It is precisely this intellectual inertia that characterizes a man as a common man. Yet the common man does choose. He chooses to adopt traditional patterns or patterns adopted by other people because he is convinced that this procedure is best fitted to achieve his own welfare. And he is ready to change his ideology and consequently his mode of action whenever he becomes convinced that this would better serve his own interests. — Ludwig Von Mises