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Ludwig von Mises: "If one wants to study the reasons for Europes backwardness, it would be necessary to examine the manifold laws and regulations that prevented in Europe the establishment of an equivalent of the American drug store and crippled the evolution of chain stores, department stores, super markets and kindred outfits." - Planning for Freedom

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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Ludwig von MisesThe ultimate source of the determination of prices is the value judgments of the consumers.Human Action p. 328; p. 331Price
Ludwig von MisesEach individual, in buying or not buying and in selling or not selling, contributes his share to the formation of the market prices. But the larger the market is, the smaller is the weight of each individuals contribution. Thus the structure of market prices appears to the individual as a datum to which he must adjust his own conduct.Human Action p. 328; p. 331Price
Ludwig von MisesIt is ultimately always the subjective value judgments of individuals that determine the formation of prices.Human Action p. 329; p. 332Price
Ludwig von MisesThere is no such thing as prices outside the market. Prices cannot be constructed synthetically, as it were.Human Action p. 392; p. 395Price
Ludwig von MisesThe dangerous fact is that while government is hampered in endeavors to make a commodity cheaper by intervention, it certainly has the power to make it more expensive.Omnipotent Government p. 248Price
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 MisesEven capital punishment could not make price control work in the days of Emperor Diocletian and the French Revolution.Defense, Control, and Inflation pp. 109-10Price control
Ludwig von MisesEconomics does not say that isolated government interference with the prices of only one commodity or a few commodities is unfair, bad, or unfeasible. It says that such interference produces results contrary to its purpose, that it makes conditions worse, not better, from the point of view of the government and those backing its interference.Human Action p. 758; p. 764Price control
Ludwig von MisesA government that sets out to abolish market prices is inevitably driven toward the abolition of private property; it has to recognize that there is no middle way between the system of private property in the means of production combined with free contract, and the system of common ownership of the means of production, or socialism. It is gradually forced toward compulsory production, universal obligation to labor, rationing of consumption, and, finally, official regulation of the whole of production and consumption.The Theory of Money and Credit p. 281Price control
Ludwig von MisesDuring thousands of years, in all parts of the inhabited earth, innumerable sacrifices have been made to the chimera of just and reasonable prices.The Theory of Money and Credit p. 282Price control
Ludwig von MisesEconomic affairs cannot be kept going by magistrates and policemen.The Theory of Money and Creditp. 282Price Control