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The Ludwig von Mises Institute

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Ludwig von Mises: "Monetary calculation and cost accounting constitute the most important intellectual tool of the capitalist entrepreneur, and it was no one less than Goethe who pronounced the system of double-entry bookkeeping one of the finest inventions of the human mind." - Liberalism


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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AuthorQuoteSourcePageSubject
Ludwig von MisesThe riches of successful entrepreneurs is not the cause of anybodys poverty; it is the consequence of the fact that the consumers are better supplied than they would have been in the absence of the entrepreneurs effort.Planning for Freedom p. 135wealth
Ludwig von MisesNo investment is safe forever. He who does not use his property in serving the consumers in the most efficient way is doomed to failure.Human Action p. 308; p. 312wealth
Ludwig von MisesProfit is not related to or dependent on the amount of capital employed by the entrepreneur. Capital does not beget profit. Profit and loss are entirely determined by the success or failure of the entrepreneur to adjust production to the demand of the consumers.Human Action p. 295; p. 297wealth
Ludwig von MisesNo income can be made safe against changes not adequately foreseen.Human Action p. 391; p. 394wealth
Ludwig von MisesSeldom does mercantile and industrial wealth maintain itself in one family for more than two or three generations.Socialism p. 338wealth
Ludwig von MisesFortunes invested in capital do not, as the naive economic philosophy of the common man imagines, represent eternal sources of income.Socialism p. 338wealth
Ludwig von MisesAn eternal capital investment is as non-existent as a secure one. Every capital investment is speculative; its success cannot be foreseen with absolute assurance.Socialism p. 339wealth
Ludwig von MisesIn capitalist enterprise there is no secure income and no security of wealth.Socialism p. 340wealth
Ludwig von MisesFortunes cannot grow; someone has to increase them.Socialism p. 340wealth
Ludwig von MisesIt is untrue that some are poor because others are rich. If an order of society in which incomes were equal replaced the capitalist order, everyone would become poorer.Socialism p. 394wealth
Ludwig von MisesThe wealth of the well-to-do of an industrial society is both the cause and effect of the masses well-being.The Ultimate Foundation of Economic Science p. 113wealth
Ludwig von MisesThe masses, in their capacity as consumers, ultimately determine everybodys revenues and wealth.The Ultimate Foundation of Economic Science p. 112wealth