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||All economic activity is based upon an uncertain future. It is therefore bound up with risk. It is essentially speculation.||Socialism|| p. 181||Risk
|Ludwig von Mises||There is no such thing as a safe investment.||Human Action|| p. 806; p. 810||Risk
|Ludwig von Mises||There is no such thing as independence of the vicissitudes of the market.||Human Action|| p. 806; p. 810||Risk
|Ludwig von Mises||Estimates 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. 816||Risk