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Ludwig von Mises: "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." - Theory and History


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 MisesThe great mass of people are incapable of realizing that in economic life nothing is permanent except change. They regard the existing state of affairs as eternal; as it has been so shall it always be.Socialism p. 188Change
Ludwig von MisesIn life everything is continually in flux.Epistemological Problems of Economics p. 108Change
Ludwig von MisesAll human action, so far as it is rational, appears as the exchange of one condition for another... This is the essence of economic activity--the carrying out of acts of exchange.Socialism p. 97Exchange
Ludwig von MisesEach party attaches a higher value to the good he receives than to that he gives away. The exchange ratio, the price, is not the product of an equality of valuation, but, on the contrary, the product of a discrepancy in valuation.Human Action pp. 328-29; p. 331Exchange
Ludwig von MisesThere are in the market economy no conflicts between the interests of the buyers and sellers.Human Action p. 661; p. 665Exchange
Ludwig von MisesThe deal is always advantageous both for the buyer and the seller. Even a man who sells at a loss is still better off than he would be if he could not sell at all, or only at a still lower price.Human Action pp. 661-62; pp. 665-66Exchange
Ludwig von MisesHe [a consumer] buys because he believes that to acquire the merchandise in question will satisfy him better than keeping the money or spending it for something else.The Ultimate Foundation of Economic Science p. 76Exchange
Ludwig von MisesIn a game there are winners and losers. But a business deal is always advantageous for both parties. If both the buyer and the seller were not to consider the transaction as the most advantageous action they could choose under the prevailing conditions, they would not enter into the deal.The Ultimate Foundation of Economic Science p. 90Exchange
Ludwig von MisesThe valuation of a monetary unit depends not on the wealth of a country, but rather on the relationship between the quantity of, and demand for, money. Thus, even the richest country can have a bad currency and the poorest a good one.On the Manipulation of Money and Credit p. 21Exchange
Ludwig von MisesForeign-exchange control is today primarily a device for the virtual expropriation of foreign investments. It has destroyed the international capital and money market.The Theory of Money and Credit p. 476Foreign Exchange