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The Ludwig von Mises Institute

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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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Top> Browse by subject: Profit and Loss
Ludwig von MisesProfit is the pay-off of successful action. It cannot be defined without reference to valuation. It is a phenomenon of valuation and has no direct relation to physical and other phenomena of the external world.Human Action p. 393; p. 396Profit and Loss
Ludwig von MisesProfit is a product of the mind, of success in anticipating the future state of the market. It is a spiritual and intellectual phenomenon.Planning for Freedom p. 120Profit and Loss
Ludwig von MisesThe entrepreneur profits to the extent he has succeeded in serving the consumers better than other people have done.Human Action p. 380; p. 383Profit and Loss
Ludwig von MisesProfit is the reward for the best fulfillment of some voluntarily assumed duties. It is the instrument that makes the masses supreme.Bureaucracy p. 88Profit and Loss
Ludwig von MisesProfits and loss withdraw the material factors of production from the hands of the inefficient and convey them into the hands of the more efficient.Planning for Freedom p. 16Profit and Loss
Ludwig von MisesThere would not be any profits but for the eagerness of the public to acquire the merchandise offered for sale by the successful entrepreneur, but the same people who scramble for these articles vilify the businessman and call his profit ill-got.Planning for Freedom p. 122Profit and Loss
Ludwig von MisesIt is precisely the necessity of making profits and avoiding losses that gives to the consumers a firm hold over the entrepreneurs and forces them to comply with the wishes of the people.Planning for Freedom p. 134Profit and Loss
Ludwig von MisesThe elimination of profit, whatever methods may be resorted to for its execution, must transform society into a senseless jumble. It would create poverty for all.Planning for Freedom p. 149Profit and Loss
Ludwig von MisesProfit tells the entrepreneur that the consumers approve of his ventures; loss, that they disapprove.Human Action p. 701; p. 705Profit and Loss
Ludwig von MisesProfits are the driving force of the market economy. The greater the profits, the better the needs of the consumers are supplied... He who serves the public best, makes the highest profits.Human Action p. 805; p. 809Profit and Loss
Ludwig von MisesIt is not the fault of the entrepreneurs that the consumersthe people, the common manprefer liquor to Bibles and detective stories to serious books, and that governments prefer guns to butter. The entrepreneur does not make greater profits in selling bad things than in selling good things. His profits are the greater the better he succeeds in providing the consumers with those things they ask for most intensely.Human Action p. 297; pp. 299-300Profit and Loss