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||The State is the only institution entitled to apply coercion and compulsion and to inflict harm upon individuals. This tremendous power cannot be abandoned to the discretion of some men, however competent and clever they may deem themselves. It is necessary to restrict its application. This is the task of the laws.||Bureaucracy|| p. 76||Rule of Law
|Ludwig von Mises||The alternative to the rule of law is the rule of despots.||Bureaucracy|| p. 76||Rule of Law
|Ludwig von Mises||It is the social function of the laws to curb the arbitrariness of the police. The rule of law restricts the arbitrariness of the officers as much as possible. It strictly limits their discretion and thus assigns to the citizens a sphere in which they are free to act without being frustrated by government interference.||Planned Chaos|| pp. 6364||Rule of Law
|Ludwig von Mises||It is the rule of law alone which hinders the rulers from turning themselves into the worst gangsters.||Planned Chaos|| p. 64||Rule of Law
|Ludwig von Mises||Classical liberalism regarded those laws best that afforded the least discretionary power to executive authorities, thus avoiding arbitrariness and abuse. The modern state seeks to expand its discretionary powereverything is to be left to the discretion of officials.||A Critique of Interventionism|| pp. 3132||Rule of Law