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The Ludwig von Mises Institute

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Ludwig von Mises: "There is no such thing as an absolute notion of justice not referring to a definite system of social organization. . . . There is neither right nor wrong outside the social nexus." - Human Action

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