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The Ludwig von Mises Institute

Tu Ne Cede Malis

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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

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 MisesAll economic activity is based upon an uncertain future. It is therefore bound up with risk. It is essentially speculation.Socialism p. 181Risk
Ludwig von MisesThere is no such thing as a safe investment.Human Action p. 806; p. 810Risk
Ludwig von MisesThere is no such thing as independence of the vicissitudes of the market.Human Action p. 806; p. 810Risk
Ludwig von MisesEstimates of future volume of production, future sales, future costs, or future profits or losses are not facts, but speculative anticipations. There are no facts about future profits.Human Action p. 812; p. 816Risk