Ludwig von Mises: "Monetary calculation and cost accounting constitute the most important intellectual tool of the capitalist entrepreneur, and it was no one less than Goethe who pronounced the system of double-entry bookkeeping one of the finest inventions of the human mind." - Liberalism
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|Ludwig von Mises||What distinguishes the Austrian School and will lend it everlasting fame is its doctrine of economic action, in contrast to one of economic equilibrium or nonaction.||Notes and Recollections|| p. 36||Austrian economists
|Ludwig von Mises||How one carries on in the face of unavoidable catastrophe is a matter of temperament. In high school, as was custom, I had chosen a verse by Virgil to be my motto: Tu ne cede malis sed contra audentior ito. Do not give in to evil, but proceed ever more boldly against it. I recalled these words during the darkest hours of the war. Again and again I had met with situations from which rational deliberation found no means of escape; but then the unexpected intervened, and with it came salvation. I would not lose courage even now. I wanted to do everything an economist could do. I would not tire in saying what I knew to be true.||Notes and Recollections|| p. 70||Autobiographical
|Ludwig von Mises||Otto Bauer was too bright not to realize that I was right, but he never forgave me for having turned him into a Millerand. The attacks of his fellow Bolshevists hit close to home, but he directed his animosity toward me instead of toward his opponents. A powerful loather, he opted for ignoble means to destroy me.||Notes and Recollections|| pp. 1819||Autobiographical
|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.||Notes and Recollections|| p. 115||Autobiographical
|Ludwig von Mises||As for the German historians, I found fault in their crude and materialistic position on power. To them power meant bayonets and cannons, and realistic policies were those relying solely on militarism. Everything else they called illusion, idealism, and utopianism.||Notes and Recollections|| p. 5||Historicism