Ludwig von Mises Quotes

Doctrines which can stand the trial of logic and reason can do without persecuting skeptics.

A new type of superstition has got hold of people's minds, the worship of the
state. People demand the exercise of the methods of coercion and compulsion,
of violence and threat. Woe to anybody who does not bend his knee to the
fashionable idols!

People must learn that the accumulation of wealth by the successful
conduct of business is the corollary of the improvement of their own standard of
living and vice versa. They must realize that bigness in business is not an evil, but both the cause and effect of the fact that they themselves enjoy all those amenities
whose enjoyment is called the “American way of life.

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

In the market economy the consumers are supreme. Consumers determine, by their
buying or abstention from buying, what should be produced, by whom and how, of
what quality and in what quantity. The entrepreneurs, capitalists, and landowners who
fail to satisfy in the best possible and cheapest way the most urgent of the not yet
satisfied wishes of the consumers are forced to go out of business and forfeit their
preferred position. In business offices and in laboratories the keenest minds are busy
fructifying the most complex achievements of scientific research for the production of
ever better implements and gadgets for people who have no inkling of the scientific
theories that make the fabrication of such things possible. The bigger an enterprise is,
the more it is forced to adjust its production activities to the changing whims and
fancies of the masses, its masters. The fundamental principle of capitalism is mass
production to supply the masses. It is the patronage of the masses that makes
enterprises grow into bigness. The common man is supreme in the market economy.
He is the customer “who is always right.

It is irrelevant to the entrepreneur, as the servant of the consumers, whether the wishes and wants of the consumers are wise or unwise, moral or immoral. He produces what the consumers want. In this sense he is amoral. He manufactures whiskey and guns just as he produces food and clothing. It is not his task to teach reason to the sovereign consumers. Should one entrepreneur, for ethical reasons of his own, refuse to manufacture whiskey, other entrepreneurs would do so as long as whiskey is wanted and bought. It is not because we have distilleries that people drink whiskey; it is because people like to drink whiskey that we have distilleries. One may deplore this. But it is not up to the entrepreneurs to improve mankind morally. And they are not to be blamed if those whose duty this is have failed to do so.

Human action is purposeful behavior.

All rational action is economic. All economic activity is rational action. All rational action is in the first place individual action. Only the individual thinks. Only the individual reasons. Only the individual acts.

Since its appearance the view that prostitution is a product of capitalism has gained ground enormously. And as, in addition, preachers still complain that the good old morals have decayed, and accuse modern culture of having led to loose living, everyone is convinced that all sexual wrongs represent a symptom of decadence peculiar to our age.

every type of socialism is unworkable because economic calculation is impossible in a socialist community.

These people look upon inequality as upon an evil. They do not assert that a definite
degree of inequality which can be exactly determined by a judgment free of any
arbitrariness and personal evaluation is good and has to be preserved unconditionally.
They, on the contrary, declare inequality in itself as bad and merely contend that a
lower degree of it is a lesser evil than a higher degree in the same sense in which a
smaller quantity of poison in a man’s body is a lesser evil than a larger dose. But if
this is so, then there is logically in their doctrine no point at which the endeavors
toward equalization would have to stop. Whether one has already reached a degree of
inequality which is to be considered low enough and beyond which it is not necessary
to embark upon further measures toward equalization is just a matter of personal
judgments of value, quite arbitrary, different with different people and changing in the
passing of time. As these champions of equalization appraise confiscation and
“redistribution” as a policy harming only a minority, viz., those whom they consider
to be “too” rich, and benefiting the rest — the majority — of the people, they cannot
oppose any tenable argument to those who are asking for more of this allegedly
beneficial policy. As long as any degree of inequality is left, there will always be
people whom envy impels to press for a continuation of the equalization policy.
Nothing can be advanced against their inference: If inequality of wealth and incomes
is an evil, there is no reason to acquiesce in any degree of it, however low;
equalization must not stop before it has completely leveled all individuals’ wealth and
incomes.

The body of economic knowledge is an essential element in the structure of human civilization; it is the foundation upon which modern industrialism and all the moral, intellectual, technological, and therapeutical achievements of the last centuries have been built. It rests with men whether they will make the proper use of the rich treasure with which this knowledge provides them or whether they will leave it unused. But if they fail to take the best advantage of it and disregard its teachings and warnings, they will not annul economics; they will stamp out society and the human race.

Only stilted pedants can conceive the idea that there are absolute norms to tell what is beautiful and what is not. They try to derive from the works of the past a code of rules with which, as they fancy, the writers and artists of the future should comply. But the genius does not cooperate with the pundit.

It is an established fact that alcoholism, cocainism, and morphinism are deadly enemies of life, of health, and of the capacity for work and enjoyment... But this is far from demonstrating that the authorities must interpose to suppress these vices by commercial prohibitions...More harmful still than all these pleasures, many will say, is the reading of evil literature.

Since nobody is in a position to substitute his own value judgments for those of the acting individual, it is vain to pass judgment on other people's aims and volitions. No man is qualified to declare what would make another man happier or less discontented.