Quotessence
Home / Quotes / Quote by Ludwig von Mises

Quote by Ludwig von Mises

Work

Socialism - An Economic and Sociological Analysis: The Economist

Socialism - An Economic and Sociological Analysis: The Economist is a comprehensive study that delves into the economic and sociological aspects of socialism. The text examines the theoretical underpinnings and practical applications of socialist systems, providing a detailed analysis from The Economist's viewpoint. more

Author

Ludwig von Mises
Ludwig von Mises

Ludwig von Mises was a prominent economist, philosopher, and social theorist born on September 29, 1881, in Austria, and passed away on October 10, 1973. He is considered one of the most influential economists of the 20th century and a leading advocate for free-market economics. more

You May Also Like

“We do not assert that the capitalist mode of economic calculation guarantees the absolutely best solution of the allocation of factors of production. Such absolutely perfect solutions of any problem are out of reach of mortal men. What the operation of a market not sabotaged by the interference of compulsion and coercion can bring about is merely the best solution accessible to the human mind under the given state of technological knowledge and the intellectual abilities of the age's shrewdest men.”

“All the talk about the so-called unspeakable horror of early capitalism can be refuted by a single statistic: precisely in these years in which British capitalism developed, precisely in the age called the Industrial Revolution in England, in the years from 1760 to 1830, precisely in those years the population of England doubled.”

“Fact is Our Lord knew all about the power of money: He gave capitalism a tiny niche in His scheme of things, He gave it a chance, He even provided a first installment of funds. Can you beat that? It's so magnificent. God despises nothing. After all, if the deal had come off, Judas would probably have endowed sanatoriums, hospitals, public libraries or laboratories.”

“Predatory capitalism created a complex industrial system and an advanced technology; it permitted a considerable extension of democratic practice and fostered certain liberal values, but within limits that are now being pressed and must be overcome. It is not a fit system for the mid-twentieth century.”

“The genius of capitalism consists precisely in its lack of morality. Unless he is rich enough to hire his own choir, a capitalist is a fellow who, by definition, can ill afford to believe in anything other than the doctrine of the bottom line. Deprive a capitalist of his God-given right to lie and cheat and steal, and the poor sap stands a better than even chance of becoming one of the abominable wards of the state from whose grimy fingers the Reagan Administration hopes to snatch the ark of democracy.”