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Quote by Ludwig von Mises

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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

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“There would not be any profits but for the eagerness of the public to acquire the merchandise offered for sale by the successful entrepreneur. But the same people who scramble for these articles vilify the businessman and call his profit ill-got.”

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“Liberalism's key principle is to redistribute wealth from the haves to the have nots. That takes money from the entities with the greatest potential to improve society (for example, corporations that create jobs, invent life-saving medicines, etc.) and redistributes it to the people, whom on average, will never contribute more to society than to hold a menial job.”

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“Liberal child welfare experts decided that child abuse was not evidence of a moral or character flaw in the abusing parent. Instead, like poverty, crime, and homelessness, child abuse came to be viewed as evidence of a societal failure.”

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“Government policies try to prevent the emergence of serious unemployment by credit expansion, i.e., inflation. The outcome was rising prices, renewed demands for higher wages and reiterated credit expansion; in short, protracted inflation.”

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“Liberals cling to the idea that critics of welfare are motivated by greed or callous disregard for the less fortunate. In fact, during the twenty-five years that followed Lyndon Johnson's declaration of war on poverty, U.S. tax payers spent $3 trillion providing every conceivable support for the poor, the elderly, and the infirm. Private foundations spent scores of billions more, and private and religious charities even more. Nevertheless, as Ronald Raegan later quipped, 'in the war on poverty, poverty won.'”

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