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Ludwig von Mises: "Big business depends entirely on the patronage of those who buy its products: the biggest enterprises loses its power and its influence when it loses its customers." - Economic Policy


Quotable MisesThis database of quotations from Mises was prepared for The Quotable Mises edited by Mark Thornton, available from the Mises Institute store for $20. Send corrections to the editor. Here is a source page on the editions of the books referenced.

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AuthorQuoteSourcePageSubject
Ludwig von MisesWhom should the government entrust with the task of deciding whether a newcomer is really a great painter or not? It would have to rely on the judgment of the critics, and the professors of the history of art who are always looking back into the past yet who very rarely have shown the talent to discovery new genius.Economic Policy p. 31Arts
Ludwig von MisesBig business depends entirely on the patronage of those who buy its products: the biggest enterprises loses its power and its influence when it loses its customers.Economic Policy p. 4Big Business
Ludwig von MisesIf you have to convince a group of people who are not directly dependent on a solution of a problem, you will never succeed.Economic Policy pp. 30-31Bureaucracy
Ludwig von MisesThe development of capitalism consists in everyone having the right to serve the consumer better and/or more cheaply.Economic Policy p. 5Capitalism
Ludwig von MisesThere is no western, capitalistic country in which the conditions of the masses have not improved in an unprecedented way.Economic Policy p. 13Capitalism
Ludwig von MisesAll 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.Economic Policy p. 7Capitalism
Ludwig von MisesGreat Britain was not brought to socialism by the Labour government which was established in 1945. Great Britain became socialist during the war, through the government of which Sir Winston Churchill was the prime minister. The Labour government simply retained the system of socialism which the government of Sir Winston Churchill had already introduced. And this in spite of great resistance by the people.Economic Policy p. 49Churchill, Winston
Ludwig von MisesA higher standard of living also brings about a higher standard of culture and civilization.Economic Policy p. 89Culture
Ludwig von MisesIf one regards inflation as an evil, then one has to stop inflating. One has to balance the budget of the government.Economic Policy pp. 72-73Deficits
Ludwig von MisesThe prerequisite for more economic equality in the world is industrialization. And this is possible only through increased capital investment, increased capital accumulation.Economic Policy p. 86Development
Ludwig von MisesCapitalists have the tendency to move towards those countries in which there is plenty of labor available and in which labor is reasonable. And by the fact that they bring capital into these countries, they bring about a trend toward higher wage rates.Economic Policy p. 89Development
Ludwig von MisesCapitalists have the tendency to move towards those countries in which there is plenty of labor available and at which labor is reasonable. And by the fact that they bring capital into these countries, they bring about a trend toward higher wage rates.Economic Policy p. 89Foreign Capital
Ludwig von MisesFreedom in society means that a man depends as much upon other people as other people depend on him.Economic Policy p. 19Freedom
Ludwig von MisesFreedom really means the freedom to make mistakes.Economic Policy p. 22Freedom
Ludwig von MisesThe meaning of economic freedom is this: that the individual is in a position to choose the way in which he wants to integrate himself into the totality of society.Economic Policy p. 17Freedom
Ludwig von MisesThe gold standard has one tremendous virtue: the quantity of the money supply, under the gold standard, is independent of the policies of governments and political parties. This is its advantage. It is a form of protection against spendthrift governments.Economic Policy p. 65Gold Standard
Ludwig von MisesGovernment ought to protect the individuals within the country against the violent and fraudulent attacks of gangsters, and it should defend the country against foreign enemies.Economic Policy p. 37Good Government
Ludwig von MisesAgain and again, the early historians of capitalism haveone can hardly use a milder wordfalsified history.Economic Policy p. 7History
Ludwig von MisesWe must fight all that we dislike in public life. We must substitute better ideas for wrong ideas. Economic Policy p. 105Ideas
Ludwig von MisesBut the certain fact about inflation is that, sooner or later, it must come to an end. It is a policy that cannot last.Economic Policy p. 63Inflation
Ludwig von MisesThe most important thing to remember is that inflation is not an act of God, that inflation is not a catastrophe of the elements or a disease that comes like the plague. Inflation is a policy.Economic Policy p. 72Inflation
Ludwig von MisesMoney, like chocolate on a hot oven, was melting in the pockets of the people.Economic Policy p. 65Inflation
Ludwig von MisesIn old fashioned language, Keynes proposed cheating the workers.Economic Policy p. 70Keynes
Ludwig von MisesIf you increase the quantity of money, you bring about the lowering of the purchasing power of the monetary unit.Economic Policy p. 66Money Supply
Ludwig von MisesOnce you begin to admit that it is the duty of the government to control your consumption of alcohol, what can you reply to those who say the control of books and ideas is much more important?Economic Policy p. 22Paternalism
Ludwig von MisesThere are no longer real political parties in the old classical sense, but merely pressure groups.Economic Policy p. 96Political Parties
Ludwig von MisesIn the United States, the two-party system of the old days is seemingly still preserved. But this is only a camouflage of the real situation. In fact, the political life of the United States . . . is determined by the struggle and aspirations of pressure groups.Economic Policy p. 96Political Parties
Ludwig von MisesWhen people talk of a price level, they have in mind the image of a level of a liquid which goes up or down according to the increase or decrease in its quantity, but which, like a liquid in a tank, always rises evenly. But with prices, there is no such thing as a level. Prices do not change to the same extent at the same time. There are always prices that are changing more rapidly, rising or falling more rapidly than other prices.Economic Policy p. 59Price
Ludwig von MisesA higher standard of living also brings about a higher standard of culture and civilization.Economic Policy p. 89Prosperity
Ludwig von MisesIn the United States the competition to the railroadsin the form of busses, automobiles, trucks, and airplaneshas caused the railroads to suffer and to be almost completely defeated, as far as passenger transportation is concerned.Economic Policy p. 5Railroads
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