Ludwig von Mises: "Despots and democratic majorities are drunk with power. They must reluctantly admit that they are subject to the laws of nature. But they reject the very notion of economic law . . . economic history is a long record of government policies that failed because they were designed with a bold disregard for the laws of economics." - Austrian Economics: An Anthology
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|Ludwig von Mises||The factory owners did not have the power to compel anybody to take a factory job. They could only hire people who were ready to work for the wages offered to them…. Their only refuge was the factory. It saved them, in the strict sense of the term, from death by starvation.||Human Action|| p. 615; pp. 619-20||Industrial Revolution
|Ludwig von Mises||The outstanding fact about the Industrial Revolution is that it opened an age of mass production for the needs of the masses. .||Human Action|| p. 616; p. 621||Industrial Revolution
|Ludwig von Mises||The market economy itself was not a product of violent actionof revolutionsbut of a series of gradual peaceful changes. The implications of the term industrial revolution are utterly misleading.||The Ultimate Foundation of Economic Science|| p. 109||Industrial Revolution