Quotation Source Page Subject
A government enterprise can never be commercialized no matter how many external features of private enterprise are superimposed on it. Critique of Interventionism, A p. 159 Bureaucracy
A great deal of what people in less capitalistic countries consider luxury is a common good in the more capitalistically developed countries. Critique of Interventionism, A p. 158 Luxuries
But for a few dozen individuals all over the globe are cognizant of economics, and no statesman or politician cares about it. Critique of Interventionism, A p. 106 Economics
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 power — everything is to be left to the discretion of officials. Critique of Interventionism, A pp. 31-32 Rule of Law
Competition takes place among producers and sellers not only within each individual branch of production, but also between all related goods, and in the final analysis, between all economic goods. Critique of Interventionism, A p. 48 Competition
Economic knowledge necessarily leads to liberalism. Critique of Interventionism, A p. 86 Classical Liberalism
Every innovation makes its appearance as a luxury of the few well-to-do. After industry has become aware of it, the luxury then becomes a necessity for all. Critique of Interventionism, A p. 158 Luxuries
For Marx and his parties, the interests of the individual classes are irreconcilably opposed to each other. Each class knows precisely what his class interests are and how to realize them. Therefore, there can only be warfare. Critique of Interventionism, A p. 118 Marxism
Government cannot make man richer, but it can make him poorer. Critique of Interventionism, A p. 23 Prosperity
He who does not know how to safeguard his equilibrium when surrounded by motorcycles and telephones will not find it in the jungle or desert. Critique of Interventionism, A p. 130 Nature
If all interventionist laws were really to be observed they would soon lead to absurdity. Critique of Interventionism, A p. 30 Interventionism
It cannot be denied that everyone is inclined...to overestimate his own credit rating, and call the rates demanded by creditors too high. Critique of Interventionism, A p. 49 Interest Rate
It is a sickly weakness of nerves that urges one to seek harmonious personality growth in past ages and remote places. Critique of Interventionism, A p. 130 Retreatism
Logic is consistent in every science. Critique of Interventionism, A p. 86 Logic
No science can avoid abstract concepts, and he who abhors them should stay away from science and see whether and how he can go through life without them. Critique of Interventionism, A p. 89 Science
Public opinion always wants easy money, that is, low interest rates. Critique of Interventionism, A p. 163 Interest Rate
Socialism and democracy are irreconcilable. Critique of Interventionism, A p. 79 Socialism
The corruption of the regulatory bodies does not shake his blind confidence in the infallibility and perfection of the state; it merely fills him with moral aversion to entrepreneurs and capitalists. Critique of Interventionism, A p. 30 Corruption
The critics of the capitalistic order always seem to believe that the socialistic system of their dreams will do precisely what they think correct. Critique of Interventionism, A pp. 156-57 Socialism
The labor unions of the Anglo-Saxon countries favored participation in the Great War in order to eliminate the last remnants of the liberal doctrine of free movement and migration of labor. Critique of Interventionism, A p. 123 Unions
The only case that can be made on behalf of protective tariffs is this: the sacrifices they impose could be offset by other, noneconomic advantages — for instance, from a national and military point of view it could be desirable to more or less isolate a country from the world. Critique of Interventionism, A p. 23 Tariffs
The sharper the competition, the better it serves its social function to improve economic production. Critique of Interventionism, A p. 84 Competition
Wars, foreign and domestic (revolutions, civil wars), are more likely to be avoided the closer the division of labor binds men. Critique of Interventionism, A p. 115 War and Peace
All those not familiar with economics (i.e., the immense majority) do not see any reason why they should not coerce other people by means of force to do what these people are not prepared to do of their own accord. Historical Setting of the Austrian School of Economics, The p. 20 Economics
Princes 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. Are they not the supreme legislators? Don't they have the power to crush every opponent? No war lord is prone to acknowledge any limits other than those imposed on him by a superior armed force. Servile scribblers are always ready to foster such complacency by expounding the appropriate doctrines. They call their garbled presumptions "historical economics." In fact, economic history is a long record of government policies that failed because they were designed with a bold disregard for the laws of economics. Human Action p. 67; p. 67 Economics
In all nations and in all periods of history, intellectual exploits were the work of a few men and were appreciated only by a small elite. The many looked upon these feats with hatred and disdain, at best with indifference. Historical Setting of the Austrian School of Economics, The p. 5 Genius
Life and reality are neither logical nor illogical; they are simply given. Human Action p. 68; p. 68 Reason
On the market it is not mankind, the state, or the corporative unit that acts, but individual men and groups of men, and that their valuations and their actions are decisive, not those of abstract collectives. Epistemological Problems of Economics p. 162 Individualism
The economist must never be a specialist. In dealing with any problem he must always fix his glance upon the whole system. Human Action p. 69; p. 69 Economics
The main and only concern of the Austrian economists was to contribute to the advancement of economics. They never tried to win the support of anybody by other means than by the convincing power developed in their books and articles. Historical Setting of the Austrian School of Economics, The p. 18 Austrian Economists
The unpopularity of economics is the result of its analysis of the effects of privileges. It is impossible to invalidate the economists demonstration that all privileges hurt the interests of the rest of the nation or at least a great part of it. Historical Setting of the Austrian School of Economics, The p. 6 Economics
Those whom the world called the "Austrian economists" were, in the Austrian universities, somewhat reluctantly tolerated outsiders. Historical Setting of the Austrian School of Economics, The p. 3 Austrian Economists
A bureaucrat differs from a nonbureaucrat precisely because he is working in a field in which it is impossible to appraise the result of a mans effort in terms of money. Bureaucracy p. 53 Bureaucracy
At the bottom of all this fanatical advocacy of planning and socialism there is often nothing else than the intimate consciousness of ones own inferiority and inefficiency. Bureaucracy p. 92 Social Planning
Bureaucratic management is management of affairs which cannot be checked by economic calculation. Bureaucracy p. 48 Bureaucracy
Capitalism means free enterprise, sovereignty of the consumers in economic matters, and sovereignty of the voters in political matters. Socialism means full government control of every sphere of the individuals life and the unrestricted supremacy of the government in its capacity as central board of production management. Bureaucracy p. 10 Capitalism vs. Socialism
Democracy is not a good that people can enjoy without trouble. It is, on the contrary, a treasure that must be daily defended and conquered anew by strenuous effort. Bureaucracy p. 121 Democracy
Economic calculation makes it possible for business to adjust production to the demands of the consumers. Bureaucracy p. 28 Economic Calculation
Economic interventionism is a self-defeating policy. The individual measures that it applies do not achieve the results sought. Bureaucracy p. 119 Interventionism
Education rears disciples, imitators, and routinists, not pioneers of new ideas and creative geniuses. . . . The mark of the creative mind is that it defies a part of what it has learned or, at least, adds something new to it. Bureaucracy p. 71 Education
European totalitarianism is an upshot of bureaucracy's preeminence in the field of education. The universities paved the way for the dictators. Bureaucracy p. 87 Education
Every dictator plans to rear, raise, feed, and train his fellow men as the breeder does his cattle. His aim is not to make the people happy but to bring them into a condition which renders him, the dictator, happy. He wants to domesticate them, to give them cattle status. The cattle breeder also is a benevolent despot. Bureaucracy p. 91 Dictatorship
He who is unfit to serve his fellow citizens wants to rule them. Bureaucracy p. 92 Political Parties
How fine the world would be if the State were free to cure all ills! It is one step only from such a mentality to the perfect totalitarianism of Stalin and Hitler. Bureaucracy pp. 75-76 State
In all countries with a settled bureaucracy people used to say: The cabinets come and go, but the bureaus remain. Bureaucracy p. 55 Bureaucracy
In public administration there is no connection between revenue and expenditure. Bureaucracy p. 47 Deficits
In the bureaucratic machine of socialism the way toward promotion is not achievement but the favor of the superiors. Bureaucracy p. 100 Socialism
In the long run the worker can never get more than the consumer allows. Bureaucracy p. 37 Wage Rates
Inflation and credit expansion, the preferred methods of present day government openhandedness, do not add anything to the amount of resources available. They make some people more prosperous, but only to the extent that they make others poorer. Bureaucracy p. 84 Inflation
It has always been the task of the new generation to provoke changes. Bureaucracy p. 95 Youth
It holds the individual in tight rein from the womb to the tomb. Bureaucracy p. 17 Tyranny
It is evident that youth is the first victim of the trend toward bureaucratization. The young men are deprived of any opportunity to shape their own fate. Bureaucracy p. 97 Youth
It is not in the power of the government to make everybody more prosperous. Bureaucracy p. 84 Farm Programs
It is the subordination of every individuals whole life, work, and leisure, to the orders of those in power and office. It is the reduction of man to a cog in an all-embracing machine of compulsion and coercion. It forces the individual to renounce any activity of which the government does not approve. It tolerates no expression of dissent. It is the transformation of society into a strictly disciplined labor-army. Bureaucracy p. 17 Tyranny
Louis XIV was very frank and sincere when he said: I am the State. The modern etatist is modest. He says: I am the servant of the State; but, he implies, the State is God. Bureaucracy pp. 74-75 State
Most of the tyrants, despots, and dictators are sincerely convinced that their rule is beneficial for the people, that theirs is government for the people. Bureaucracy p. 43 Dictatorship
Most people joined the staff of the government offices because the salary and the pension offered were higher than what they could expect to earn in other occupations. They did not renounce anything in serving the government. Civil service was for them the most profitable job they could find. Bureaucracy p. 79 Civil Service
No private enterprise will ever fall prey to bureaucratic methods of management if it is operated with the sole aim of making profit. Bureaucracy p. 64 Bureaucracy
Nobody can be at the same time a correct bureaucrat and an innovator. Bureaucracy p. 67 Bureaucracy
Profit is the reward for the best fulfillment of some voluntarily assumed duties. It is the instrument that makes the masses supreme. Bureaucracy p. 88 Profit and Loss
Progress of any kind is always at variance with the old and established ideas and therefore with the codes inspired by them. Every step of progress is a change involving heavy risks. Bureaucracy p. 67 Bureaucracy
Representative democracy cannot subsist if a great part of the voters are on the government pay roll. If the members of parliament no longer consider themselves mandatories of the taxpayers but deputies of those receiving salaries, wages, subsidies, doles, and other benefits from the treasury, democracy is done for. Bureaucracy p. 81 Civil Service
The actual world is a world of permanent change. Population figures, tastes, and wants, the supply of factors of production and technological methods are in a ceaseless flux. In such a state of affairs there is need for a continuous adjustment of production to the change in conditions. Bureaucracy p. 28 Production
The alternative to the rule of law is the rule of despots. Bureaucracy p. 76 Rule of Law
The bureaucrat is not free to aim at improvement. He is bound to obey rules and regulations established by a superior body. He has no right to embark upon innovations if his superiors do not approve of them. His duty and his virtue is to be obedient. Bureaucracy p. 66 Bureaucracy
The capitalist system of production is an economic democracy in which every penny gives a right to vote. The consumers are the sovereign people. The capitalists, the entrepreneurs, and the farmers are the peoples mandatories. Bureaucracy pp. 21-22 Capitalism
The conduct of military affairs is characterized by a stubborn hostility to every attempt toward improvement. Bureaucracy p. 67 Military
The consumers are merciless. They never buy in order to benefit a less efficient producer and to protect him against the consequences of his failure to manage better. They want to be served as well as possible. And the working of the capitalist system forces the entrepreneur to obey the orders issued by the consumers. Bureaucracy p. 37 Consumer
The elaborate methods of modern bookkeeping, accountancy, and business statistics provide the enterpriser with a faithful image of all his operations. He is in a position to learn how successful or unsuccessful every one of his transactions was. Bureaucracy p. 32 Economic Calculation
The first virtue of an administrator is to abide by the codes and decrees. Bureaucracy p. 41 Bureaucracy
The government pretends to be endowed with the mystical power to accord favors out of an inexhaustible horn of plenty. It is both omniscient and omnipotent. It can by a magic wand create happiness and abundance. Bureaucracy p. 84 Government
The police officer and the fireman have no better claim to the publics gratitude than the doctors, the railroad engineers, the welders, the sailors, or the manufacturers of any useful commodity. The traffic cop has no more cause for conceit than the manufacturer of traffic lights. Bureaucracy p. 77 Police Power
The real bosses, in the capitalist system of market economy, are the consumers. Bureaucracy pp. 20-21 Consumer
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
The trend toward bureaucratic rigidity is not inherent in the evolution of business. It is an outcome of government meddling with business. Bureaucracy p. 12 Bureaucracy
The two pillars of democratic government are the primacy of the law and the budget. Bureaucracy p. 41 Deficits
The ultimate basis of an all around bureaucratic system is violence. Bureaucracy p. 104 Bureaucracy
The worst law is better than bureaucratic tyranny. Bureaucracy p. 76 Bureaucracy
There are no such things as absolute values, independent of the subjective preferences of erring men. Judgments of values are the outcome of human arbitrariness. They reflect all the shortcomings and weaknesses of their authors. Bureaucracy p. 26 Value
There is but one way toward an increase of real wage rates for all those eager to earn wages: the progressive accumulation of new capital and the improvement of technical methods of production which the new capital brings about. The true interests of labor coincide with those of business. Bureaucracy p. 112 Wage Rates
Under an unhampered market economy the appraisal of each individuals effort is detached from any personal considerations and can therefore be free both from bias and dislike. The market passes judgment on the products, not on the producers. Bureaucracy p. 38 Prejudice
Under capitalism everybody is the architect of his own fortune. Bureaucracy p. 100 Class Mobility
Under the division of labor, the structure of society rests on the shoulders of all men and women. Bureaucracy pp. 77-78 Division of Labor
You do not increase the happiness of a man eager to attend a performance of Abie's Irish Rose by forcing him to attend a perfect performance of Hamlet instead. You may deride his poor taste. But he alone is supreme in matters of his own satisfaction. Bureaucracy pp. 90-91 Happiness
At the breakfast table of every citizen sits in wartime an invisible guest, as it were, a G.I. who shares the meal. In the citizens garage stays not only the family car but besides — invisibly — a tank or a plane. The important fact is that this G.I. needs more in food, clothing, and other things than he used to consume as a civilian and that military equipment wears out much quicker than civilian equipment. The costs of a modern war are enormous. Defense, Controls, and Inflation p. 331 War and Peace
Continued inflation inevitably leads to catastrophe. Defense, Controls, and Inflation p. 109 Inflation
Even capital punishment could not make price control work in the days of Emperor Diocletian and the French Revolution. Defense, Controls, and Inflation pp. 109-10 Price Control
Some experts have declared that it is necessary to tax the people until it hurts. I disagree with these sadists. Defense, Controls, and Inflation p. 333 Taxes
What is a loophole? If the law does not punish a definite action or does not tax a definite thing, this is not a loophole. It is simply the law. Defense, Controls, and Inflation p. 115 Loopholes
Admittedly, monetary calculation has its inconveniences and serious defects, but we have certainly nothing better to put in its place, and for the practical purposes of life monetary calculation as it exists under a sound monetary system always suffices. Economic Calculation in the Socialist Commonwealth p. 25 Economic Calculation
In the socialist commonwealth every economic change becomes an undertaking whose success can be neither appraised in advance nor later retrospectively determined. There is only groping in the dark. Socialism is the abolition of rational economy. Economic Calculation in the Socialist Commonwealth p. 26 Socialism
One may anticipate the nature of the future socialist society. There will be hundreds and thousands of factories in operation. Very few of these will be producing wares ready for use; in the majority of cases what will be manufactured will be unfinished goods and production goods. (1920) Economic Calculation in the Socialist Commonwealth pp. 22-23 Socialism
There are many socialists who have never come to grips in any way with the problems of economics, and who have made no attempt at all to form for themselves any clear conception of the conditions which determine the character of human society. Economic Calculation in the Socialist Commonwealth p. 1 Socialism
A book of the size and profundity of Capital and Interest is not easy reading. But the effort expended pays very well. Economic Freedom and Interventionism p. 135 Böhm-Bawerk, Eugen von
A sound monetary policy is one of the foremost means to thwart the insidious schemes of communism. Economic Freedom and Interventionism p. 106 Communism
Daily experience proves clearly to everybody but the most bigoted fanatics of socialism that governmental management is inefficient and wasteful. Economic Freedom and Interventionism p. 62 Government
Dr. Rothbard is already well known as the author of several excellent monographs. Now, as the result of many years of sagacious and discerning meditation, he joins the ranks of eminent economists by publishing a voluminous work, a systematic treatise on economics. Economic Freedom and Interventionism p. 155 Rothbard, Murray
Full government control of all activities of the individual is virtually the goal of both national parties. Economic Freedom and Interventionism p. 157 America
In his book on Eternal Peace, the German philosopher Immanuel Kant suggested that government should be forbidden to finance wars by borrowing. He expected that the warlike spirit would dwindle if all countries had to pay cash for their wars. Economic Freedom and Interventionism p. 99 Kant, Immanuel
In the same way in which it is impossible for a mathematician to specialize in triangles and to neglect the study of circles, it is impossible to be an expert on wage rates without at the same time mastering the problems of profits and interest, commodity prices, and currency and banking. Economic Freedom and Interventionism p. 234 Economists
Nobody seems to doubt that to prevent some people from acquiring riches is a policy extremely beneficial for the rest of society. Economic Freedom and Interventionism pp. 231-32 Envy
Now such a book as Man, Economy, and State offers to every intelligent man an opportunity to obtain reliable information concerning the great controversies and conflicts of our age. It is certainly not easy reading and asks for the utmost exertion of ones attention. But there are no shortcuts to wisdom. Economic Freedom and Interventionism p. 158 Rothbard, Murray
Reading Smith is no more a substitute for studying economics than reading Euclid is a substitute for the study of mathematics. Economic Freedom and Interventionism p. 117 Smith, Adam
Smith did not inaugurate a new chapter in social philosophy and did not sow on land hitherto left uncultivated. Economic Freedom and Interventionism p. 115 Smith, Adam
The fundamental law of the market is: the customer is always right. Economic Freedom and Interventionism p. 6 Market
The main achievement of economics is that it has provided a theory of peaceful human cooperation. This is why the harbingers of violent conflict have branded it as a dismal science and why this age of wars, civil wars, and destruction has no use for it. Economic Freedom and Interventionism p. 235 Economics
The modern American high school, reformed according to the principles of John Dewey, has failed lamentably, as all competent experts agree, in the teaching of mathematics, physics, languages, and history. Economic Freedom and Interventionism p. 171 Education
The most serious dangers for American freedom and the American way of life do not come from without. Economic Freedom and Interventionism p. 101 America
The return to gold does not depend on the fulfillment of some material condition. It is an ideological problem. It presupposes only one thing: the abandonment of the illusion that increasing the quantity of money creates prosperity. Economic Freedom and Interventionism p. 86 Gold Standard
The social function of economic science consists precisely in developing sound economic theories and in exploding the fallacies of vicious reasoning. In the pursuit of this task the economist incurs the deadly enmity of all mountebanks and charlatans whose shortcuts to an earthly paradise he debunks. Economic Freedom and Interventionism pp. 51-52 Economics
There is no doubt that Böhm-Bawerk's book is the most eminent contribution to modern economic theory. For every economist it is a must to study it most carefully and to scrutinize its content with the utmost care. Economic Freedom and Interventionism p. 133 Böhm-Bawerk, Eugen von
There is no remedy for the inefficiency of public management. Economic Freedom and Interventionism p. 63 Government
There is, in fact, in the writings and teaching of those who nowadays call themselves economists, no longer any comprehension of the operation of the economic system as such. Economic Freedom and Interventionism p. 154 Economists
Therefore nothing is more important today than to enlighten public opinion about the basic differences between genuine Liberalism, which advocates the free market economy, and the various interventionist parties which are advocating government interference. Economic Freedom and Interventionism p. 244 Future
Used to the conditions of a capitalistic environment, the average American takes it for granted that every year business makes something new and better accessible to him. Looking backward upon the years of his own life, he realizes that many implements that were totally unknown in the days of his youth and many others which at that time could be enjoyed only by a small minority are now standard equipment of almost every household. He is fully confident that this trend will prevail also in the future. He simply calls it the American way of life and does not give serious thought to the question of what made this continuous improvement in the supply of material goods possible. Economic Freedom and Interventionism p. 7 America
Western civilization is based upon the libertarian principle and all its achievements are the result of the actions of free men. Economic Freedom and Interventionism p. 150 Western Civilization
A higher standard of living also brings about a higher standard of culture and civilization. Economic Policy p. 89 Culture
A higher standard of living also brings about a higher standard of culture and civilization. Economic Policy p. 89 Prosperity
Again and again, the early historians of capitalism have — one can hardly use a milder word — falsified history. Economic Policy p. 7 History
All the talk about the so-called unspeakable horror of early capitalism can be refuted by a single statistic: precisely in these years in which British capitalism developed, precisely in the age called the Industrial Revolution in England, in the years from 1760 to 1830, precisely in those years the population of England doubled. Economic Policy p. 7 Capitalism
Big business depends entirely on the patronage of those who buy its products: the biggest enterprises loses its power and its influence when it loses its customers. Economic Policy p. 4 Big Business
But the certain fact about inflation is that, sooner or later, it must come to an end. It is a policy that cannot last. Economic Policy p. 63 Inflation
Capitalists have the tendency to move towards those countries in which there is plenty of labor available and at which labor is reasonable. And by the fact that they bring capital into these countries, they bring about a trend toward higher wage rates. Economic Policy p. 89 Foreign Capital
Capitalists have the tendency to move towards those countries in which there is plenty of labor available and in which labor is reasonable. And by the fact that they bring capital into these countries, they bring about a trend toward higher wage rates. Economic Policy p. 89 Development
Every country can experience the same miracle of economic recovery, although I must insist that economic recovery does not come from a miracle; it comes from the adoption of — and is the result of — sound economic policies. Economic Policy p. 15 Recovery
Freedom in society means that a man depends as much upon other people as other people depend on him. Economic Policy p. 19 Freedom
Freedom really means the freedom to make mistakes. Economic Policy p. 22 Freedom
Government ought to protect the individuals within the country against the violent and fraudulent attacks of gangsters, and it should defend the country against foreign enemies. Economic Policy p. 37 Good Government
Great Britain was not brought to socialism by the Labour government which was established in 1945. Great Britain became socialist during the war, through the government of which Sir Winston Churchill was the prime minister. The Labour government simply retained the system of socialism which the government of Sir Winston Churchill had already introduced. And this in spite of great resistance by the people. Economic Policy p. 49 Churchill, Winston
If one regards inflation as an evil, then one has to stop inflating. One has to balance the budget of the government. Economic Policy pp. 72-73 Deficits
If you have to convince a group of people who are not directly dependent on a solution of a problem, you will never succeed. Economic Policy pp. 30-31 Bureaucracy
If you increase the quantity of money, you bring about the lowering of the purchasing power of the monetary unit. Economic Policy p. 66 Money Supply
In old fashioned language, Keynes proposed cheating the workers. Economic Policy p. 70 Keynes, John Maynard
In the United States the competition to the railroads — in the form of busses, automobiles, trucks, and airplanes — has caused the railroads to suffer and to be almost completely defeated, as far as passenger transportation is concerned. Economic Policy p. 5 Railroads
In the United States, the two-party system of the old days is seemingly still preserved. But this is only a camouflage of the real situation. In fact, the political life of the United States . . . is determined by the struggle and aspirations of pressure groups. Economic Policy p. 96 Political Parties
It is not the Hollywood film corporation that pays the wages of a movie star; it is the people who pay admission to the movies. And it is not the entrepreneurs of a boxing match who pay the enormous demands of the prize fighters; it is the people who pay admission to the fight. Economic Policy pp. 910 Wage Rates
Money, like chocolate on a hot oven, was melting in the pockets of the people. Economic Policy p. 65 Inflation
Once you begin to admit that it is the duty of the government to control your consumption of alcohol, what can you reply to those who say the control of books and ideas is much more important? Economic Policy p. 22 Paternalism
The development of capitalism consists in everyone having the right to serve the consumer better and/or more cheaply. Economic Policy p. 5 Capitalism
The gold standard has one tremendous virtue: the quantity of the money supply, under the gold standard, is independent of the policies of governments and political parties. This is its advantage. It is a form of protection against spendthrift governments. Economic Policy p. 65 Gold Standard
The meaning of economic freedom is this: that the individual is in a position to choose the way in which he wants to integrate himself into the totality of society. Economic Policy p. 17 Freedom
The most important thing to remember is that inflation is not an act of God, that inflation is not a catastrophe of the elements or a disease that comes like the plague. Inflation is a policy. Economic Policy p. 72 Inflation
The prerequisite for more economic equality in the world is industrialization. And this is possible only through increased capital investment, increased capital accumulation. Economic Policy p. 86 Development
The United Nations is simply a meeting place for useless discussions. Economic Policy p. 85 United Nations
There are no laboratory experiments in human action. Economic Policy p. 35 Science
There are no longer real political parties in the old classical sense, but merely pressure groups. Economic Policy p. 96 Political Parties
There is no western, capitalistic country in which the conditions of the masses have not improved in an unprecedented way. Economic Policy p. 13 Capitalism
This is the difference between slavery and freedom. The slave must do what his superior orders him to do, but the free citizen — and this is what freedom means — is in a position to choose his own way of life. Economic Policy p. 23 Slavery
We must fight all that we dislike in public life. We must substitute better ideas for wrong ideas. Economic Policy p. 105 Ideas
When people talk of a price level, they have in mind the image of a level of a liquid which goes up or down according to the increase or decrease in its quantity, but which, like a liquid in a tank, always rises evenly. But with prices, there is no such thing as a level. Prices do not change to the same extent at the same time. There are always prices that are changing more rapidly, rising or falling more rapidly than other prices. Economic Policy p. 59 Price
Whom should the government entrust with the task of deciding whether a newcomer is really a great painter or not? It would have to rely on the judgment of the critics, and the professors of the history of art who are always looking back into the past yet who very rarely have shown the talent to discovery new genius. Economic Policy p. 31 Arts
A work of art is an attempt to experience the universe as a whole. One cannot analyze or dissect it into parts and comment on it without destroying its intrinsic character. Epistemological Problems of Economics p. 136 Arts
Action is, by definition, always rational. One is unwarranted in calling goals of action irrational simply because they are not worth striving for from the point of view of ones own valuations. Epistemological Problems of Economics p. 35 Rational Action
Art is nothing more than a faltering and inadequate attempt to express what has been thus experienced and to give some form to its content. The work of art captures not the experience, but only what its creator has been able to express of the experience. Epistemological Problems of Economics p. 45 Arts
Cognition is furthered only by clarity and distinctness, never by compromises. Epistemological Problems of Economics p. 206 Knowledge
Economic progress is the work of the savers, who accumulate capital, and of the entrepreneurs, who turn capital to new uses. The other members of society, of course, enjoy the advantages of progress, but they not only do not contribute anything to it; they even place obstacles in its way. Epistemological Problems of Economics p. 228 Economic Progress
Even knowledge of the laws of nature does not make action free. It is never able to attain more than definite, limited ends. It can never go beyond the insurmountable barriers set for it. And even within the sphere allowed to it, it must always reckon with the inroads of uncontrollable forces, with fate. Epistemological Problems of Economics p. 198 Fate
Every new theory encounters opposition and rejection at first. Epistemological Problems of Economics p. 184 Intellectuals
Everything that we say about action is independent of the motives that cause it and of the goals toward which it strives in the individual case. Epistemological Problems of Economics p. 34 Economics
History makes one wise, but not competent to solve concrete problems. Epistemological Problems of Economics p. xxiii History
In all ages the pioneer in scientific thought has been a solitary thinker. But never has the position of the scientist been more solitary than in the field of modern economics. Epistemological Problems of Economics p. 202 Economics
In life everything is continually in flux. Epistemological Problems of Economics p. 108 Change
It is merely the routine of scientific procedure that can be taught and presented in textbooks. The power to accomplish feats of scientific achievement can be awakened only in one who already possesses the necessary intellectual gifts and strength of character. Epistemological Problems of Economics pp. 71-72 Genius
It is not mankind, the state, or the corporative unit that acts, but individual men and groups of men, and their valuations and their action are decisive, not those of abstract collectivities. Epistemological Problems of Economics p. 153 Collectivism
It is not to be denied that the loftiest theme that human thought can set for itself is reflection on ultimate questions. Whether such reflection can accomplish anything is doubtful. Epistemological Problems of Economics p. 49 Metaphysics
Man thinks not only for the sake of thinking, but also in order to act. Epistemological Problems of Economics p. 37 Action
Metaphysics and science perform different functions. They cannot, therefore, adopt the same procedures, nor are they alike in their goals. Epistemological Problems of Economics p. 49 Metaphysics
Monetary calculation is not the calculation, and certainly not the measurement, of value. Its basis is the comparison of the more important and the less important. It is an ordering according to rank, an act of grading, and not an act of measuring. Epistemological Problems of Economics p. 160 Economic Calculation
Most men are accessible to new ideas only in their youth. With the progress of age the ability to welcome them diminishes, and the knowledge acquired earlier turns into dogma. Epistemological Problems of Economics p. 184 Youth
Most men endure the sacrifice of the intellect more easily than the sacrifice of their daydreams. They cannot bear that their utopias should run aground on the unalterable necessities of human existence. Epistemological Problems of Economics p. 200 Reality
New experience can force us to discard or modify inferences we have drawn from previous experience. Epistemological Problems of Economics p. 27 Experience
No one can escape the influence of a prevailing ideology. Epistemological Problems of Economics p. 197 Ideology
One has to recognize that science is not metaphysics, and certainly not mysticism; it can never bring us the illumination and the satisfaction experienced by one enraptured in ecstasy. Science is sobriety and clarity of conception, not intoxicated vision. Epistemological Problems of Economics p. 46 Science
One may hold poets, prophets, or promulgators of new values in higher esteem than scientists. But in no case is one free to confound these two fundamentally different functions. Epistemological Problems of Economics p. 49 Metaphysics
Only the literati are enthusiastic about poverty, i.e., the poverty of others. The rest of mankind, however, prefer prosperity to misery. Epistemological Problems of Economics p. 92 Intellectuals
Science is universally human, and not limited by nationality, bound to a particular time, or contingent upon any social class. Epistemological Problems of Economics p. 152 Science
Social cooperation, however, can be based only on the foundation of private ownership of the means of production. Epistemological Problems of Economics p. 39 Private Property
The assertion that there is irrational action is always rooted in an evaluation of a scale of values different from our own. Whoever says that irrationality plays a role in human action is merely saying that his fellow men behave in a way that he does not consider correct. Epistemological Problems of Economics p. 33 Rational Action
The collectivists idolize only the one true church, only the great nation . . . only the true state; everything else they condemn. For that reason all collectivists doctrines are harbingers of irreconcilable hatred and war to the death. Epistemological Problems of Economics p. 42 Collectivism
The educated classes are possessed by the idea that in the social domain anything can be accomplished if only one applies enough force and is sufficiently resolute. Epistemological Problems of Economics p. 200 Intellectuals
The infant industries argument advanced in favor of protective tariffs represents a hopeless attempt to justify such measures on a purely economic basis, without regard to political considerations. Epistemological Problems of Economics p. 223 Infant Industries
The most primitive work of art also can express the strongest experience, and it speaks to us, if only we let it. Epistemological Problems of Economics p. 46 Arts
The productivity of social cooperation surpasses in every respect the sum total of the production of isolated individuals. Epistemological Problems of Economics p. 43 Productivity
The romantic revolt against logic and science does not limit itself to the sphere of social phenomena. . . . It is a revolt against our entire culture and civilization. Epistemological Problems of Economics p. 200 Romanticism
The specific experience with which economics and economic statistics are concerned always refers to the past. It is history, and as such does not provide knowledge about a regularity that will manifest itself also in the future. Epistemological Problems of Economics p. xiv Econometrics
There cannot be too much of a correct theory. Epistemological Problems of Economics p. 141 Theory
Through all the changes in the prevailing system of social stratification, moral philosophers continued to hold fast to the fundamental idea of Cicero's doctrine that making money is degrading. Epistemological Problems of Economics p. 194 Bourgeoisie
To the man who adopts the scientific method in reflecting upon the problems of human action, liberalism must appear as the only policy that can lead to lasting well-being for himself, his friends, and his loved ones, and, indeed, for all others as well. Epistemological Problems of Economics p. 39 Classical Liberalism
We owe the origin and development of human society and, consequently, of culture and civilization, to the fact that work performed under the division of labor is more productive than when performed in isolation. Epistemological Problems of Economics p. 110 Culture
What counts is not the data, but the mind that deals with them…. Galileo was certainly not the first to observe the swinging motion of the chandelier in the cathedral at Pisa. Epistemological Problems of Economics p. 71 Genius
What life and death are eludes its grasp. Epistemological Problems of Economics p. 44 Science
Whether we see the greatest value in wisdom or in action, in neither case may we scorn science. It alone shows us the way both to knowledge and to action. Without it our existence would be only vegetative. Epistemological Problems of Economics p. 46 Science
Without the aid of monetary calculation, bookkeeping, and the computation of profit and loss in terms of money, technology would have had to confine itself to the simplest, and therefore the least productive, methods. Epistemological Problems of Economics p. 157 Economic Calculation
A judgment of value does not measure, it arranges in a scale of degrees, it grades. It is expressive of an order of preference and sequence, but not expressive of measure and weight. Human Action p. 97; p. 97 Value
A man is free as far as he shapes his life according to his own plans. A man whose fate is determined by the plans of a superior authority, in which the exclusive power to plan is vested, is not free in the sense in which the term free was used and understood by all people until the semantic revolution of our day brought about a confusion of tongues. Human Action p. 285; p. 287 Tyranny
A man who chooses between drinking a glass of milk and a glass of a solution of potassium cyanide does not choose between two beverages; he chooses between life and death. A society that chooses between capitalism and socialism does not choose between two social systems; it chooses between social cooperation and the disintegration of society. Socialism is not an alternative to capitalism; it is an alternative to any system under which men can live as human beings. Human Action p. 676; p. 680 Socialism
A society that chooses between capitalism and socialism does not choose between two social systems; it chooses between social cooperation and the disintegration of society. Socialism is not an alternative to capitalism; it is an alternative to any system under which men can live as human beings. Human Action p. 676; p. 680 Capitalism vs. Socialism
Action is a display of potency and control that are limited. It is a manifestation of man who is restrained by the circumscribed powers of his mind, the physiological nature of his body, the vicissitudes of his environment, and the scarcity of external factors on which his welfare depends. Human Action p. 70; p. 70 Action
Action is an attempt to substitute a more satisfactory state of affairs for a less satisfactory one. We call such a willfully induced alteration an exchange. Human Action p. 97; p. 97 Action
Aggressive nationalism is the necessary derivative of the policies of interventionism and national planning. Human Action p. 819; p. 823 Nationalism
All capital goods sooner or later enter into final products and cease to exist through use, consumption, wear and tear. Human Action p. 514; p. 517 Capital
All present-day governments are fanatically committed to an easy money policy. Human Action p. 570; p. 572 Monetary Policy
All that a tariff can achieve is to divert production from those locations in which the output per unit of input is higher to locations in which it is lower. It does not increase production; it curtails it. Human Action p. 737; p. 744 Tariffs
All the effusions of the contemporary welfare school are, like those of the socialist authors, based on the implicit assumption that there is an abundant supply of capital goods. Then, of course, it seems easy to find a remedy for all ills, to give to everybody according to his needs and to make everyone perfectly happy. Human Action p. 844; p. 848 Capital
All the materials needed for the conduct of a war must be provided by restriction of civilian consumption, by using up a part of the capital available and by working harder. The whole burden of warring falls upon the living generation. Human Action p. 228; p. 227 War and Peace
All the sophisticated syllogisms of the ponderous volumes published by Marx, Engels, and hundreds of Marxian authors cannot conceal the fact that the only and ultimate source of Marx's prophecy is an alleged inspiration by virtue of which Marx claims to have guessed the plans of the mysterious powers determining the course of history. Like Hegel, Marx was a prophet communicating to the people the revelation that an inner voice had imparted to him. Human Action p. 691; p. 695 Marxism
All this passionate praise of the supereminence of government action is but a poor disguise for the individual interventionists self-deification. The great god State is a great god only because it is expected to do exclusively what the individual advocate of interventionism wants to see achieved. Human Action p. 727; pp. 731-32 Social Planning
All those intent upon sabotaging the evolution toward welfare, peace, freedom, and democracy loathed the gold standard, and not only on account of its economic significance. Human Action p. 470; p. 473 Gold Standard
Among the amenities which civilized man can enjoy in a more abundant way than his less civilized ancestors there is also the enjoyment of more leisure time. Human Action p. 133; p. 133 Leisure
An employer or an employee entrusted with the management of a department of an enterprise is free to discriminate in hiring workers, to fire them arbitrarily, or to cut down their wages below the market rate. But in indulging in such arbitrary acts he jeopardizes the profitability of his enterprise. Human Action p. 629; p. 634 Discrimination
An entrepreneur cannot be trained. Human Action p. 311 p. 314 Entrepreneurs
An essential point in the social philosophy of interventionism is the existence of an inexhaustible fund which can be squeezed forever. The whole system of interventionism collapses when this fountain is drained off: The Santa Claus principle liquidates itself. Human Action p. 854; p. 858 Welfare
As conditions are today, nothing can be more important to every intelligent man than economics. His own fate and that of his progeny is at stake. Human Action p. 875; p. 878 Economics
As far as there is unhampered capitalism, there is no longer any question of poverty in the sense in which this term is applied to the conditions of a noncapitalistic society. Human Action p. 832; p. 836 Poverty
As soon as the economic freedom which the market economy grants to its members is removed, all political liberties and bills of rights become humbug. Human Action p. 284; p. 287 Freedom
Assistance granted to the unemployed does not dispose of unemployment. It makes it easier for the unemployed to remain idle. Human Action p. 770; p. 776 Unemployment Insurance
At no time and at no place was it possible for enterprises employing servile labor to compete on the market with enterprises employing free labor. Servile labor could always be utilized only where it did not have to meet the competition of free labor. Human Action p. 626; p. 630 Slavery
Bureaucratic conduct of affairs is conduct bound to comply with detailed rules and regulations fixed by the authority of a superior body. It is the only alternative to profit management. . . . Whenever the operation of a system is not directed by the profit motive, it must be directed by bureaucratic rules. Human Action p. 307; p. 310 Bureaucracy
Capitalism gave the world what it needed, a higher standard of living for a steadily increasing number of people. Human Action pp. 860-61; p. 864 Capitalism
Civilization is an achievement of the bourgeois spirit, not of the spirit of conquest. Those barbarian peoples who did not substitute working for plundering disappeared from the historical scene. Human Action p. 645; p. 650 Society
Collaboration of the more talented, more able, and more industrious with the less talented, less able, and less industrious results in benefit for both. The gains derived from the division of labor are always mutual. Human Action p. 159; p. 160 Equality
Competitors aim at excellence and preeminence in accomplishments within a system of mutual cooperation. The function of competition is to assign to every member of the social system that position in which he can best serve the whole of society and all its members. Human Action p. 117; p. 117 Competition
Credit expansion and inflationary increase of the quantity of money frustrate the common mans attempts to save and to accumulate reserves for less propitious days. Human Action p. 834; p. 838 Inflation
Credit expansion is the governments foremost tool in their struggle against the market economy. In their hands it is the magic wand designed to conjure away the scarcity of capital goods, to lower the rate of interest or to abolish it altogether, to finance lavish government spending, to expropriate the capitalists, to contrive everlasting booms, and to make everybody prosperous. Human Action p. 788; p. 794 Credit
Each individual, in buying or not buying and in selling or not selling, contributes his share to the formation of the market prices. But the larger the market is, the smaller is the weight of each individuals contribution. Thus the structure of market prices appears to the individual as a datum to which he must adjust his own conduct. Human Action p. 328; p. 331 Price
Each party attaches a higher value to the good he receives than to that he gives away. The exchange ratio, the price, is not the product of an equality of valuation, but, on the contrary, the product of a discrepancy in valuation. Human Action pp. 328-29; p. 331 Exchange
Economic nationalism is incompatible with durable peace. Yet economic nationalism is unavoidable where there is government interference with business. Protectionism is indispensable where there is no domestic free trade. Where there is government interference with business, free trade even in the short run would frustrate the aims sought by the various interventionist measures. Human Action p. 682; p. 686 Protectionism
Economic nationalism, the necessary complement of domestic interventionism, hurts the interests of foreign peoples and thus creates international conflict. It suggests the idea of amending this unsatisfactory state of affairs by war. Human Action p. 827; p. 831 Nationalism
Economics deals merely with the socialist plans, not with the psychological factors that impel people to espouse the religion of statolatry. Human Action p. 689; p. 693 Socialism
Economics does not say that isolated government interference with the prices of only one commodity or a few commodities is unfair, bad, or unfeasible. It says that such interference produces results contrary to its purpose, that it makes conditions worse, not better, from the point of view of the government and those backing its interference. Human Action p. 758; p. 764 Price Control
Economics is not about goods and services; it is about human choice and action. Human Action p. 491; p. 494 Economics
Economics must not be relegated to classrooms and statistical offices and must not be left to esoteric circles. It is the philosophy of human life and action and concerns everybody and everything. It is the pith of civilization and of mans human existence. Human Action p. 874; p. 878 Economics
Economics, as a branch of the more general theory of human action, deals with all human action, i.e., with mans purposive aiming at the attainment of ends chosen, whatever these ends may be. Human Action p. 880; p. 884 Action
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
Even the most orthodox Marxians are not bold enough to support seriously its essential thesis, namely, that capitalism results in a progressive impoverishment of the wage earners. Human Action p. 691; p. 694 Marxism
Every branch of knowledge has its own merits and its own rights. Economists have never tried to belittle or deny the significance of economic history. Neither do real historians object to the study of economics. Human Action p. 864; p. 868 Knowledge
Every grant of credit is a speculative entrepreneurial venture, the success or failure of which is uncertain. Human Action p. 536; p. 539 Creditors
Every socialist is a disguised dictator. Human Action p. 689; p. 693 Socialism
Every step by which an individual substitutes concerted action for isolated action results in an immediate and recognizable improvement in his conditions. The advantages derived from peaceful cooperation and division of labor are universal. Human Action p. 146; p. 146 Society
Everything that is thought, done and accomplished is a performance of individuals. New ideas and innovations are always an achievement of uncommon men. Human Action pp. 859-60; p. 863 Genius
Fiat money is a money consisting of mere tokens which can neither be employed for any industrial purposes nor convey a claim against anybody. Human Action p. 426; p. 429 Money
For the primary task of reason is to cope consciously with the limitations imposed upon man by nature, to fight against scarcity. Human Action p. 237; p. 236 Nature
For two hundred years the governments have interfered with the markets choice of the money medium. Even the most bigoted étatists do not venture to assert that this interference has proved beneficial. Human Action p. 419; p. 422 Money
Freedom is indivisible. As soon as one starts to restrict it, one enters upon a decline on which it is difficult to stop. Human Action p. 319; p. 322 Freedom
Government does not have the power to encourage one branch of production except by curtailing other branches. It withdraws the factors of production from those branches in which the unhampered market would employ them and directs them into other branches. Human Action p. 737; p. 744 Protectionism
Government is a guarantor of liberty and is compatible with liberty only if its range is adequately restricted to the preservation of what is called economic freedom. Human Action p. 283 Government
Government means always coercion and compulsion and is by necessity the opposite of liberty. Human Action p. 283; p. 285 Government
Governments cannot free themselves from the pressure of public opinion. They cannot rebel against the preponderance of generally accepted ideologies, however fallacious. But this does not excuse the officeholders who could resign rather than carry out policies disastrous for the country. Human Action p. 787; p. 793 Public Opinion
He who invested his funds in bonds issued by the government and its subdivisions was no longer subject to the inescapable laws of the market and to the sovereignty of the consumers. He was no longer under the necessity of investing his funds in such a way that they would best serve the wants and needs of the consumers. Human Action p. 226; p. 225 Public Debt
History can tell us what happened in the past. But it cannot assert that it must happen again in the future. Human Action p. 546; p. 549 History
History does not provide any example of capital accumulation brought about by a government. As far as governments invested in the construction of roads, railroads, and other useful public works, the capital needed was provided by the savings of individual citizens and borrowed by the government. Human Action p. 847; p. 851 Capital
History speaks only to those people who know how to interpret it. Human Action p. 859; p. 863 History
How uneasy an American worker would be if he were forced to live in the style of a medieval lord and to miss the plumbing facilities and the other gadgets he simply takes for granted! Human Action p. 612; p. 616 Standard of Living
Human action is purposeful behavior. Human Action p. 11; p. 11 Action
Human life is an unceasing sequence of single actions. Human Action p. 45; p. 45 Action
If inflation is pushed to its ultimate consequences, it makes any stipulation of deferred payments in terms of the inflated currency cease altogether. Human Action p. 779; p. 785 Inflation
If the credit expansion is not stopped in time, the boom turns into the crack-up boom; the flight into real values begins, and the whole monetary system founders. Human Action p. 559; p. 562 Credit
If the government objects to monopoly prices for new inventions, it should stop granting patents. Human Action p. 760; p. 766 Patents
In abolishing economic calculation the general adoption of socialism would result in complete chaos and the disintegration of social cooperation under the division of labor. Human Action p. 857; p. 861 Socialism
In calling a rise in the masses standard of living progress and improvement, economists do not espouse a mean materialism. They simply establish the fact that people are motivated by the urge to improve the material conditions of their existence. Human Action pp. 193-94; p. 193 Material Well-Being
In nature there prevail irreconcilable conflicts of interest. The means of subsistence are scarce. Proliferation tends to outrun subsistence. Only the fittest plants and animals survive. The antagonism between an animal starving to death and another that snatches the food away from it is implacable. Human Action pp. 273-74; p. 273 Nature
In reality no food is valued solely for its nutritive power and no garment or house solely for the protection it affords against cold weather and rain…. the demand for goods is widely influenced by metaphysical, religious, and ethical considerations, by aesthetic value judgments, by customs, habits, prejudice, tradition, changing fashions, and many other things. Human Action p. 234; p. 233 Material Goods
In the hegemonic state there is neither right nor law; there are only directives and regulations which the director may change daily and apply with what discrimination he pleases which the wards must obey. The wards have one freedom only: to obey without asking questions. Human Action p. 199; p. 198 Tyranny
In the long run there cannot be any such thing as an unpopular system of government. Human Action p. 859; p. 863 Public Opinion
In the long run war and the preservation of the market economy are incompatible. Capitalism is essentially a scheme for peaceful nations. Human Action p. 824; p. 828 War and Peace
In the market economy the worker sells his services as other people sell their commodities. The employer is not the employees lord. He is simply the buyer of services which he must purchase at their market price. Human Action p. 629; pp. 633-34 Workers
Income no longer stemmed from the process of supplying the wants of the consumers in the best possible way, but from the taxes levied by the states apparatus of compulsion and coercion. He was no longer a servant of his fellow citizens, subject to their sovereignty; he was a partner of the government which ruled the people and exacted tribute from them. Human Action p. 226; p. 225 Public Debt
Innovators and creative geniuses cannot be reared in schools. They are precisely the men who defy what the school has taught them. Human Action p. 311 p. 314 Education
Interventionism generates economic nationalism, and economic nationalism generates bellicosity. If men and commodities are prevented from crossing the borderlines, why should not the armies try to pave the way for them? Human Action p. 828; p. 832 Nationalism
Interventionism generates economic nationalism, and economic nationalism generates bellicosity. If men and commodities are prevented from crossing the borderlines, why should not the armies try to pave the way for them? Human Action p. 828; p. 832 War and Peace
It is a fact that no paternal government, whether ancient or modern, ever shrank from regimenting its subjects minds, beliefs, and opinions. If one abolishes mans freedom to determine his own consumption, one takes all freedoms away. Human Action p. 729; p. 734 Paternalism
It is a poor makeshift to call any age an age of transition. In the living world there is always change. Every age is an age of transition. Human Action p. 855; p. 860 Uncertainty
It is a widespread fallacy that skillful advertising can talk the consumers into buying everything that the advertiser wants them to buy. The consumer is, according to this legend, simply defenseless against high-pressure advertising. If this were true, success or failure in business would depend on the mode of advertising only. Human Action p. 317; p. 321 Advertising
It is always the individual who thinks. Society does not think any more than it eats or drinks. The evolution of human reasoning from the naive thinking of primitive man to the more subtle thinking of modern science took place within society. However, thinking itself is always an achievement of individuals. Human Action p. 177; p. 177 Society
It is certain that many intellectuals envy the higher income of prosperous businessmen and that these feelings drive them toward socialism. They believe that the authorities of a socialist commonwealth would pay them higher salaries than those that they earn under capitalism. Human Action p. 90; p. 90 Intellectuals
It is certainly true that the necessity of adjusting oneself again and again to changing conditions is onerous. But change is the essence of life. In an unhampered market economy the absence of security, i.e., the absence of protection for vested interests, is the principle that makes for a steady improvement in material well-being. Human Action p. 848; p. 852 Uncertainty
It is extremely difficult for our contemporaries to conceive of the conditions of free banking because they take government interference with banking for granted and as necessary. Human Action p. 444; p. 447 Banking
It is futile to place confidence in treaties, conferences, and such bureaucratic outfits as the League of Nations and the United Nations. Plenipotentiaries, office clerks and experts make a poor show in fighting ideologies. The spirit of conquest cannot be smothered by red tape. What is needed is a radical change in ideologies and economic policies. Human Action p. 821; p. 825 United Nations
It is manifestly contrary to the interest of the consumers to prevent the most efficient entrepreneurs from expanding the sphere of their activities up to the limit to which the public approves of their conduct of business by buying their products. Human Action p. 802; p. 806 Production
It is no accident that Germany, the country that inaugurated the social security system, was the cradle of both varieties of modern disparagement of democracy, the Marxian as well as the non-Marxian. Human Action p. 613; p. 617 Social Security
It is not labor legislation and labor-union pressure that have shortened hours of work and withdrawn married women and children from the factories; it is capitalism, which has made the wage earner so prosperous that he is able to buy more leisure time for himself and his dependents. The nineteenth century's labor legislation by and large achieved nothing more than to provide a legal ratification for changes which the interplay of market factors had brought about previously. Human Action p. 612; pp. 616-17 Working Conditions
It is not the fault of the entrepreneurs that the consumers — the people, the common man — prefer liquor to Bibles and detective stories to serious books, and that governments prefer guns to butter. The entrepreneur does not make greater profits in selling bad things than in selling good things. His profits are the greater the better he succeeds in providing the consumers with those things they ask for most intensely. Human Action p. 297; pp. 299-300 Profit and Loss
It is not unfair to call syndicalism the economic philosophy of short-sighted people, of those adamant conservatives who look askance upon any innovation and are so blinded by envy that they call down curses upon those who provide them with more, better, and cheaper products. Human Action p. 810; p. 814 Syndicalism
It is ultimately always the subjective value judgments of individuals that determine the formation of prices. Human Action p. 329; p. 332 Price
It is vain to object that life and reality are not logical. Life and reality are neither logical nor illogical; they are simply given. But logic is the only tool available to man for the comprehension of both. Human Action pp. 67-68; p. 67 Reason
It is vain to provide for the needs of ages the technological abilities of which we cannot even dream. Human Action p. 383; p. 386 Environment
It is vain to speak of any calculation of values. Calculation is possible only with cardinal numbers. The difference between the valuation of two states of affairs is entirely psychical and personal. It is not open to any projection into the external world. It can be sensed only by the individual. It cannot be communicated or imparted to any fellow man. Human Action p. 97; p. 97 Value
It would be a serious blunder to neglect the fact that inflation also generates forces which tend toward capital consumption. One of its consequences is that it falsifies economic calculation and accounting. It produces the phenomenon of illusory or apparent profits. Human Action p. 546; p. 549 Inflation
Keynes did not add any new idea to the body of inflationist fallacies, a thousand times refuted by economists… He merely knew how to cloak the plea for inflation and credit expansion in the sophisticated terminology of mathematical economics. Human Action p. 787; p. 793 Keynes, John Maynard
Labor is more scarce than material factors of production. Human Action p. 136; p. 136 Unemployment
Laissez faire means: Let the common man choose and act; do not force him to yield to a dictator. Human Action p. 727; p. 732 Laissez Faire
Liberty and freedom are the conditions of man within a contractual society. Human Action p. 280; p. 282 Free Market
Liberty and freedom are the conditions of man within a contractual society. Human Action p. 282 Freedom
Like the mystical sense of communion, racial hatred is not a natural phenomenon innate in man. It is a product of ideologies. Human Action p. 168; p. 168 Discrimination
Logical thinking and real life are not two separate orbits. Logic is for man the only means to master the problems of reality. Human Action p. 185; p. 185 Reason
Love of nature and appreciation of the beauties of the landscape were foreign to the rural population. The inhabitants of the cities brought them to the countryside. It was the city-dwellers who began to appreciate the land as nature. Human Action p. 641; p. 645 Nature
Man can never become omniscient. He can never be absolutely certain that his inquiries were not misled and that what he considers as certain truth is not error. All that man can do is to submit all his theories again and again to the most critical reexamination. Human Action p. 68; p. 68 Knowledge
Man has only one tool to fight error: reason. Human Action p. 187; p. 187 Reason
Man is subject to the passing of time. He comes into existence, grows, becomes old, and passes away. His time is scarce. He must economize it as he economizes other scarce factors. Human Action p. 101; p. 101 Time
Man lives in the shadow of death. Whatever he may have achieved in the course of his pilgrimage, he must one day pass away and abandon all that he has built. Each instant can become his last. There is only one thing that is certain about the individual's future — death. Human Action p. 877; p. 881 Death
Man uses reason in order to choose between the incompatible satisfactions of conflicting desires. Human Action p. 173; p. 174 Reason
Many people complain today about the lack of creative statesmanship. However, under the predominance of interventionist ideas, a political career is open only to men who identify themselves with the interests of a pressure group. Human Action p. 866; p. 870 Political Parties
Many people look upon tariff protection as if it were a privilege accorded to their nations wage earners, procuring them, for the full duration of its existence, a higher standard of living than they would enjoy under free trade. Human Action p. 745; p. 752 Tariffs
Men are fighting one another because they are convinced that the extermination and liquidation of adversaries is the only means of promoting their own well-being. Human Action p. 175; p. 176 War and Peace
Men have chosen the precious metals gold and silver for the money service on account of their mineralogical, physical, and chemical features. The use of money in a market economy is a praxeologically necessary fact. That gold, and not something else, is used as money is merely a historical fact and as such cannot be conceived by catallactics. Human Action p. 468; p. 471 Gold Standard
Men must choose between the market economy and socialism. They cannot evade deciding between these alternatives by adopting a middle-of-the-road position, whatever name they may give to it. Human Action p. 857; p. 861 Socialism
Modern civilization is a product of the philosophy of laissez faire. It cannot be preserved under the ideology of government omnipotence. Human Action p. 828; p. 832 Civilization
Modern war is merciless, it does not spare pregnant women or infants; it is indiscriminate killing and destroying. It does not respect the rights of neutrals. Millions are killed, enslaved, or expelled from the dwelling places in which their ancestors lived for centuries. Nobody can foretell what will happen in the next chapter of this endless struggle. This has little to do with the atomic bomb. The root of the evil is not the construction of new, more dreadful weapons. It is the spirit of conquest. It is probable that scientists will discover some methods of defense against the atomic bomb. But this will not alter things, it will merely prolong for a short time the process of the complete destruction of civilization. Human Action p. 828; p. 832 War and Peace
Most actions do not aim at anybody's defeat or loss. They aim at an improvement in conditions. Human Action p. 116; p. 116 Action
Neither the entrepreneurs nor the farmers nor the capitalists determine what has to be produced. The consumers do that. Human Action p. 270; p. 270 Production
No civilized community has callously allowed the incapacitated to perish. But the substitution of a legally enforceable claim to support or sustenance for charitable relief does not seem to agree with human nature as it is... The discretion of bureaucrats is substituted for the discretion of people whom an inner voice drives to acts of charity. Human Action pp. 835-36; pp. 839-40 Charity
No dullness and clumsiness on the part of the masses can stop the pioneers of improvement. There is no need for them to win the approval of inert people beforehand. They are free to embark upon their projects even if everyone else laughs at them. Human Action p. 859; p. 863 Entrepreneurs
No income can be made safe against changes not adequately foreseen. Human Action p. 391; p. 394 Wealth
No 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. 312 Wealth
No one has ever succeeded in the effort to demonstrate that unionism could improve the conditions and raise the standard of living of all those eager to earn wages. Human Action pp. 764-65; pp. 770-71 Unions
No physical violence and compulsion can possibly force a man against his will to remain in the status of the ward of a hegemonic order. What violence or the threat of violence brings about is a state of affairs in which subjection as a rule is considered more desirable than rebellion. Faced with the choice between the consequences of obedience and of disobedience, the ward prefers the former and thus integrates himself into the hegemonic bond. Every new command places this choice before him again. In yielding again and again he himself contributes his share to the continuous existence of the hegemonic societal body. Human Action p. 197; p. 196 Revolution
Nobody believes that the states will eternally drag the burden of these interest payments. It is obvious that sooner or later all these debts will be liquidated in some way or other, but certainly not by payment of interest and principal according to the terms of the contract. Human Action p. 228; p. 227 Public Debt
Nobody is in a position to decree what should make a fellow man happier. Human Action p. 14; p. 14 Happiness
Not shepherds, but sophisticated aristocrats and city-dwellers were the authors of bucolic poetry. Daphnis and Chloe are creations of fancies far removed from earthy concerns. No less removed from the soil is the modern political myth of the soil. It did not blossom from the moss of the forests and the loam of the fields, but from the pavements of the cities and the carpets of the salons. Human Action p. 641; p. 645 Nature
Nothing suggests the belief that progress toward more satisfactory conditions is inevitable or a relapse into very unsatisfactory conditions impossible. Human Action pp. 856-57; p. 861 Future
Notwithstanding all declarations to the contrary, the immense majority of men aim first of all at an improvement of the material conditions of well-being. They want more and better food, better homes and clothes and a thousand other amenities. They strive after abundance and health. Human Action p. 96; p. 96 Material Well-Being
On the unhampered market there prevails an irresistible tendency to employ every factor of production for the best possible satisfaction of the most urgent needs of the consumers. If the government interferes with this process, it can only impair satisfaction; it can never improve it. Human Action pp. 736-37; pp. 743-44 Interventionism
Once the principle is admitted that it is duty of government to protect the individual against his own foolishness, no serious objections can be advanced against further encroachments. Human Action pp. 728-29 p. 733 Government
Only the human mind that directs action and production is creative. Human Action p. 141; p. 141 Creativity
Policies of long-term irredeemable and perpetual loans . . . offered to the citizen an opportunity to put his wealth in safety and to enjoy a stable income secure against all vicissitudes. It opened a way to free the individual from the necessity of risking and acquiring his wealth and his income anew each day in the capitalist market. Human Action p. 226; p. 225 Public Debt
Primitive man was always haunted by the specter of death from starvation. Civilization has freed us from these perils. Human Action p. 600; p. 602 Nature
Production is not something physical, material, and external; it is a spiritual and intellectual phenomenon. Human Action p. 141; p. 144 Production
Profit 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. 297 Wealth
Profit is the pay-off of successful action. It cannot be defined without reference to valuation. It is a phenomenon of valuation and has no direct relation to physical and other phenomena of the external world. Human Action p. 393; p. 396 Profit and Loss
Profit tells the entrepreneur that the consumers approve of his ventures; loss, that they disapprove. Human Action p. 701; p. 705 Profit and Loss
Profit-seeking business is compelled to employ the most efficient methods of production. What checks a businessman's endeavors to improve the equipment of his firm is only lack of capital. Human Action p. 769; p. 775 Capital
Profits are the driving force of the market economy. The greater the profits, the better the needs of the consumers are supplied... He who serves the public best, makes the highest profits. Human Action p. 805; p. 809 Profit and Loss
Rational conduct means that man, in face of the fact that he cannot satisfy all his impulses, desires, and appetites, forgoes the satisfaction of those which he considers less urgent. Human Action pp. 171-72; p. 172 Rational Action
Reason is mans particular and characteristic feature. There is no need for praxeology to raise the question whether reason is a suitable tool for the cognition of ultimate and absolute truth. It deals with reason only as far as it enables man to act. Human Action p. 177; p. 177 Reason
Rulers do not like to admit that their power is restricted by any laws other than those of physics and biology. They never ascribe their failures and frustrations to the violation of economic law. Human Action p. 756; p. 762 Economics
Science does not give us absolute and final certainty. It only gives us assurance within the limits of our mental abilities and the prevailing state of scientific thought. A scientific system is but one station in an endlessly progressing search for knowledge. Human Action p. 7; p. 7 Science
Servile labor disappeared because it could not stand the competition of free labor; its unprofitability sealed its doom in the market economy. Human Action p. 625; p. 630 Slavery
Society is division of labor and combination of labor. Human Action p. 143; p. 143 Society
Statistics is a method for the presentation of historical facts concerning prices and other relevant data of human action. It is not economics and cannot produce economic theorems and theories. The statistics of prices is economic history. Human Action p. 348; p. 351 Statistics
Strictly speaking, people do not long for tangible goods as such, but for the services which these goods are fitted to render them. Human Action p. 234; p. 233 Material Goods
Tax-supported universities are under the sway of the party in power. The authorities try to appoint only professors who are ready to advance ideas of which they themselves approve. Human Action p. 868; p. 872 Education
The available supply of every commodity is limited. If it were not scarce with regard to the demand of the public, the thing in question would not be considered an economic good, and no price would be paid for it. Human Action p. 356; p. 359 Scarcity
The average American worker enjoys amenities for which Croesus, Crassus, the Medici, and Louis XIV would have envied him. Human Action p. 265; p. 265 Material Well-Being
The bigness and the economic power of the railroad companies did not impede the emergence of the motor car and the airplane. Human Action p. 276; p. 275 Big Business
The body of economic knowledge is an essential element in the structure of human civilization; it is the foundation upon which modern industrialism and all the moral, intellectual, technological, and therapeutical achievements of the last centuries have been built. Human Action p. 885 Economics
The boom produces impoverishment. But still more disastrous are its moral ravages. It makes people despondent and dispirited. The more optimistic they were under the illusory prosperity of the boom, the greater is their despair and their feeling of frustration. Human Action p. 574; p. 576 Business Cycles
The boon of these privileged farmers is paid for by the taxpayers who must provide the funds required to defray the deficit. It affects neither the market price nor the total available supply of agricultural products. It merely makes profitable the operation of farms which hitherto were submarginal. Human Action p. 656; p. 660 Farm Programs
The characteristic mark of economic history under capitalism is unceasing economic progress, a steady increase in the quantity of capital goods available, and a continuous trend toward an improvement in the general standard of living. Human Action p. 562; p. 565 Capitalism
The cognizance of reality is a sad experience. It teaches the limits on the satisfaction of ones wishes. Only reluctantly does man resign himself to the insight that there are things, viz., the whole complex of all causal relations between events, which wishful thinking cannot alter. Human Action p. 858; p. 862 Reality
The concept of a just or fair price is devoid of any scientific meaning; it is a disguise for wishes, a striving for a state of affairs different from reality. Human Action p. 329; p. 332 Fairness
The cyclical fluctuations of business are not an occurrence originating in the sphere of the unhampered market, but a product of government interference with business conditions designed to lower the rate of interest below the height at which the free market would have fixed it. Human Action p. 562; p. 565 Business Cycles
The deal is always advantageous both for the buyer and the seller. Even a man who sells at a loss is still better off than he would be if he could not sell at all, or only at a still lower price. Human Action pp. 661-62; pp. 665-66 Exchange
The democracy of the market consists in the fact that people themselves make their choices and that no dictator has the power to force them to submit to his value judgments. Human Action p. 384; p. 387 Free Market
The development of a profession of economists is an offshoot of interventionism. The professional economist is the specialist who is instrumental in designing various measures of government interference with business. He is an expert in the field of economic legislation, which today invariably aims at hindering the operation of the market economy. Human Action p. 865; p. 869 Economics
The doctrines of Nazism are vicious, but they do not essentially disagree with the ideologies of socialism and nationalism as approved by other peoples public opinion. What characterized the Nazis was only the consistent application of these ideologies to the special conditions of Germany. Human Action p. 187; p. 187 Nazism
The early industrialists were for the most part men who had their origin in the same social strata from which their workers came. They lived very modestly, spent only a fraction of their earnings for their households and put the rest back into the business. Human Action p. 617; p. 622 Capitalism
The effect of its interference is that people are prevented from using their knowledge and abilities, their labor and their material means of production in the way in which they would earn the highest returns and satisfy their needs as much as possible. Such interference makes people poorer and less satisfied. Human Action p. 736; p. 743 Interventionism
The emergence of the international division of labor requires the total abolition of war. Human Action p. 827; p. 831 War and Peace
The eminence of the Western nations consisted in the fact that they succeeded better in checking the spirit of predatory militarism than the rest of mankind and that they thus brought forth the social institutions required for saving and investment on a broader scale. Human Action p. 497; p. 500 Western Civilization
The endeavors to expand the quantity of money in circulation either in order to increase the governments capacity to spend or in order to bring about a temporary lowering of the rate of interest disintegrate all currency matters and derange economic calculation. Human Action p. 225; p. 224 Economic Calculation
The entrepreneur profits to the extent he has succeeded in serving the consumers better than other people have done. Human Action p. 380; p. 383 Profit and Loss
The essence of a credit-expansion boom is not overinvestment, but investment in wrong lines, i.e., malinvestment. Human Action p. 556; p. 559 Credit
The essence of Marxian philosophy is this: We are right because we are the spokesmen of the rising proletarian class. Discursive reasoning cannot invalidate our teachings, for they are inspired by the supreme power that determines the destiny of mankind. Our adversaries are wrong because they lack the intuition that guides our minds. Human Action p. 84; p. 83 Marxism
The essence of the interventionist policy is to take from one group to give to another. It is confiscation and distribution. Human Action p. 851; p. 855 Interventionism
The essential feature of government is the enforcement of its decrees by beating, killing, and imprisoning. Those who are asking for more government interference are asking ultimately for more compulsion and less freedom. Human Action p. 715; p. 719 State
The existence of the armaments industries is a consequence of the warlike spirit, not its cause. Human Action p. 297; p. 300 War and Peace
The expectation of rising prices thus has the tendency to make the gross rate of interest rise, while the expectation of dropping prices makes it drop. Human Action p. 540; p. 543 Interest Rate
The factory owners did not have the power to compel anybody to take a factory job. They could only hire people who were ready to work for the wages offered to them…. Their only refuge was the factory. It saved them, in the strict sense of the term, from death by starvation. Human Action p. 615; pp. 619-20 Industrial Revolution
The final outcome of the credit expansion is general impoverishment. Human Action p. 562; p. 564 Credit
The flowering of human society depends on two factors: the intellectual power of outstanding men to conceive sound social and economic theories, and the ability of these or other men to make these ideologies palatable to the majority. Human Action p. 860; p. 864 Public Opinion
The freedom of man under capitalism is an effect of competition. Human Action p. 283; p. 285 Freedom
The fundamental discrepancies in worldview and patterns of behavior do not correspond to differences in race, nationality or class affiliation. There is hardly any greater divergence in value judgments than that between ascetics and those eager to enjoy life lightheartedly. Human Action p. 87; p. 87 Races
The gold standard was the world standard of the age of capitalism, increasing welfare, liberty, and democracy, both political and economic. Human Action pp. 469-70; pp. 472-73 Gold Standard
The governments alone are responsible for the spread of the superstitious awe with which the common man looks upon every bit of paper upon which the treasury or agencies which it controls have printed the magical words legal tender. Human Action pp. 444-45; p. 448 Money
The hired man does not owe the employer gratitude; he owes him a definite quantity of work of a definite kind and quality. Human Action p. 629; p. 634 Work
The idea of justice refers always to social cooperation. Human Action p. 717; p. 721 Justice
The imposition of a duty on the importation of a commodity burdens the consumers. Human Action p. 742; p. 749 Tariffs
The issue is not the right to form associations. It is whether or not any association of private citizens should be granted the privilege of resorting with impunity to violent action. It is the same problem that relates to the activities of the Ku Klux Klan. Human Action p. 773; p. 779 Unions
The labor unions aim at a monopolistic position on the labor market. But once they have attained it, their policies are restrictive and not monopoly price policies. They are intent upon restricting the supply of labor in their field without bothering about the fate of those excluded. Human Action p. 374; p. 377 Unions
The labor unions are deadly foes of every new machine. Human Action p. 269; p. 269 Unions
The laborer is an entrepreneur in so far as his wages are determined by the price the market allows for the kind of work he can perform. This price varies according to the change in conditions in the same way in which the price of every other factor of production varies. Human Action p. 255; p. 254 Workers
The League of Nations did not fail because its organization was deficient. It failed because it lacked the spirit of genuine liberalism. It was a convention of governments imbued with the spirit of economic nationalism and entirely committed to the principles of economic warfare. Human Action p. 683; pp. 687-88 United Nations
The majority has the power to do away with an unpopular government and uses this power whenever it becomes convinced that its own welfare requires it. In the long run there is no such thing as an unpopular government. Civil war and revolution are the means by which the discontented majorities overthrow rulers and methods of government which do not suit them. Human Action pp. 149-150; pp. 149-50 Revolution
The majority of the students espouse without any inhibitions the interventionist panaceas recommended by their professors. Human Action p. 871; p. 875 Education
The market economy involves peaceful cooperation. It bursts asunder when the citizens turn into warriors and, instead of exchanging commodities and services, fight one another. Human Action p. 817; p. 821 War and Peace
The market economy is the social system of the division of labor under private ownership of the means of production. Everybody acts on his own behalf; but everybody's actions aim at the satisfaction of other peoples needs as well as at the satisfaction of his own. Everybody in acting serves his fellow citizens. Human Action p. 258; p. 257 Free Market
The market economy needs no apologists and propagandists. It can apply to itself the words of Sir Christopher Wren's epitaph in St. Paul's: Si monumentum requiris, circumspice. [If you seek his monument, look around.] Human Action p. 850; p. 854 Capitalism
The masses, the hosts of common men, do not conceive any ideas, sound or unsound. They only choose between the ideologies developed by the intellectual leaders of mankind. But their choice is final and determines the course of events. If they prefer bad doctrines, nothing can prevent disaster. Human Action p. 860; p. 864 Public Opinion
The member of a contractual society is free because he serves others only in serving himself. What restrains him is only the inevitable natural phenomenon of scarcity. Human Action p. 280; p. 283 Self-Interest
The metamorphosis of taxes into weapons of destruction is the mark of present-day public finance. Human Action p. 734; p. 741 Taxes
The monopoly problem mankind has to face today is not an outgrowth of the operation of the market economy. It is a product of purposive action on the part of governments. It is not one of the evils inherent in capitalism as the demagogues trumpet. . Human Action p. 363; p. 366 Monopolies
The moral precepts and the laws of the country are means by which men seek to attain certain ends. Whether or not these ends can really be attained this way depends on the laws of the universe. The man-made laws are suitable if they are fit to attain these ends and contrary to purpose if they are not. They are open to examination from the point of view of their suitableness or unsuitableness. Human Action p. 756; pp. 761-62 Law
The most popular of these doctrines is crystallized in the phrase: A public debt is no burden because we owe it to ourselves. If this were true, then the wholesale obliteration of the public debt would be an innocuous operation, a mere act of bookkeeping and accountancy. Human Action p. 229n; p. 228n Public Debt
The most that can be attained with regard to reality is probability. Human Action p. 105; p. 105 Uncertainty
The natural condition of man is extreme poverty and insecurity. It is romantic nonsense to lament the passing of the happy days of primitive barbarism. Human Action p. 165; p. 165 Nature
The notion of justice makes sense only when referring to a definite system of norms which in itself is assumed to be uncontested and safe against any criticism. Human Action p. 716; p. 720 Justice
The notions of abnormality and perversity therefore have no place in economics. It does not say that a man is perverse because he prefers the disagreeable, the detrimental, and the painful to the agreeable, the beneficial and the pleasant. Human Action p. 95; p. 95 Perversity
The only means of inducing a man to work more and better is to offer him a higher reward. It is vain to bait him with the joy of labor. Human Action p. 589; p. 592 Work
The only source from which an entrepreneurs profits stem is his ability to anticipate better than other people the future demand of the consumers. Human Action p. 288; p. 290 Entrepreneurs
The only statement that can be predicated with regard to reason is that it is the mark that distinguishes man from animals and has brought about everything that is specifically human. Human Action p. 91; p. 91 Reason
The outstanding fact about the Industrial Revolution is that it opened an age of mass production for the needs of the masses. . Human Action p. 616; p. 621 Industrial Revolution
The philosophy of protectionism is a philosophy of war. The wars of our age are not at variance with popular economic doctrines; they are, on the contrary, the inescapable result of a consistent application of these doctrines. Human Action p. 683; p. 687 Protectionism
The philosophy of protectionism is a philosophy of war. The wars of our age are not at variance with popular economic doctrines; they are, on the contrary, the inescapable result of consistent application of these doctrines. Human Action p. 683; p. 687 War and Peace
The planning businessman cannot help employing data concerning the unknown future; he deals with future prices and future costs of production. Human Action p. 225; p. 224 Entrepreneurs
The policies advocated by the welfare school remove the incentive to saving on the part of private citizens. On the one hand, the measures directed toward a curtailment of big incomes and fortunes seriously reduce or destroy entirely the wealthier peoples power to save. On the other hand, the sums which people with moderate incomes previously contributed to capital accumulation are manipulated in such a way as to channel them into the lines of consumption. Human Action p. 841; pp. 844-45 Welfare
The pretended solicitude for the nations welfare, for the public in general, and for the poor ignorant masses in particular was a mere blind. The governments wanted inflation and credit expansion, they wanted booms and easy money. Human Action p. 438; p. 441 Inflation
The problems of poor relief are problems of the arrangement of consumption, not of the arrangement of production activities. Human Action p. 600; p. 603 Welfare
The public debt embodies claims of people who have in the past entrusted funds to the government against all those who are daily producing new wealth. It burdens the producing strata for the benefit of another part of the people. Human Action p. 229n; p. 228n Public Debt
The quantity of money available in the whole economy is always sufficient to secure for everybody all that money does and can do. Human Action p. 418; p. 421 Money Supply
The role which good will plays on the market does not impair or restrict competition. Everybody is free to acquire good will, and every bearer of good will can lose good will once acquired. Human Action p. 377; p. 380 Good Will
The Roman Empire crumbled to dust because it lacked the spirit of liberalism and free enterprise. The policy of interventionism and its political corollary, the Führer principle, decomposed the mighty empire as they will by necessity always disintegrate and destroy any social entity. Human Action p. 763; p. 769 Roman Empire
The statement that one mans boon is the other mans damage is valid with regard to robbery, war, and booty. The robbers plunder is the damage of the despoiled victim. But war and commerce are two different things. Human Action p. 662; p. 666 War and Peace
The substitution of economic planning for the market economy removes all freedom and leaves to the individual merely the right to obey. Human Action p. 284; p. 287 Tyranny
The supremacy of public opinion determines not only the singular role that economics occupies in the complex of thought and knowledge. It determines the whole process of human history. Human Action p. 859; p. 863 Public Opinion
The system of discriminatory taxation universally accepted under the misleading name of progressive taxation of income and inheritance is not a mode of taxation. It is rather a mode of disguised expropriation. Human Action p. 803; p. 807 Taxes
The toiler looks at his work as a means for the attainment of an end sought, and the progress of his work delights him as an approach toward his goal. His joy is a foretaste of the satisfaction conveyed by the mediate gratification. Human Action p. 586; p. 589 Work
The transition to capitalism is thus accompanied by two phenomena: a decline both in fertility rates and in mortality rates. The average duration of life is prolonged. Human Action p. 665; p. 669 Population
The tricks and artifices of advertising are available to the seller of the better product no less than to the seller of the poorer product. But only the former enjoys the advantage derived from the better quality of his product. Human Action p. 318; p. 321 Advertising
The ultimate source of the determination of prices is the value judgments of the consumers. Human Action p. 328; p. 331 Price
The value of time, i.e., time preference or the higher valuation of want-satisfaction in nearer periods of the future as against that in remoter periods, is an essential element in human action. It determines every choice and every action. Human Action p. 490; p. 493 Time
The very existence of a comparatively great number of invalids is, however paradoxical, a characteristic mark of civilization and material well-being. Provision for those invalids who lack mean of sustenance and are not taken care of by their next of kin has long been considered a work of charity. Human Action p. 833; p. 837 Prosperity
The vigorous man industriously striving for the improvement of his condition acts neither more nor less than the lethargic man who sluggishly takes things as they come. For to do nothing and to be idle are also action, they too determine the course of events. Human Action p. 13; p. 13 Action
The wavelike movement effecting the economic system, the recurrence of periods of boom which are followed by periods of depression is the unavoidable outcome of the attempts, repeated again and again, to lower the gross market rate of interest by means of credit expansion. Human Action p. 570; p. 572 Business Cycles
The writings of the socialists are full of such utopian fancies. Whether they call themselves Marxian or non-Marxian socialists, technocrats, or simply planners, they are all eager to show how foolishly things are arranged in reality and how happily men could live if they were to invest the reformers with dictatorial powers. Human Action p. 503; pp. 506-07 Social Planning
There are in the market economy no conflicts between the interests of the buyers and sellers. Human Action p. 661; p. 665 Exchange
There are in this world no such things as stability and security and no human endeavors are powerful enough to bring them about. There is in the social system of the market society no other means of acquiring wealth and of preserving it than successful service to the consumers. Human Action p. 227; p. 226 Security
There are people to whom monetary calculation is repulsive. They do not want to be roused from their daydreams by the voice of critical reason. Reality sickens them, they long for a realm of unlimited opportunity. Human Action p. 231; p. 230 Intellectuals
There cannot be any question of abolishing interest by any institutions, laws, or devices of bank manipulation...such decrees would bring about capital consumption and would very soon throw mankind back into the original state of natural poverty. Human Action p. 529; p. 532 Interest Rate
There is in the course of human events no stability and consequently no safety. Human Action p. 113; p. 113 Uncertainty
There is neither constancy nor continuity in the valuations and in the formation of exchange ratios between various commodities. Every new datum brings about a reshuffling of the whole price structure. Human Action p. 118; p. 118 Expectations
There is no kind of freedom and liberty other than the kind which the market economy brings about. In a totalitarian hegemonic society the only freedom that is left to the individual, because it cannot be denied to him, is the freedom to commit suicide. Human Action p. 280; p. 283 Free Market
There is no means of comparing and measuring the happiness of different people and of the same people at different times. Human Action p. 617; p. 621 Happiness
There is no method available to construct a unit of value. Human Action p. 206; p. 205 Value
There is no reason to idolize the police power and ascribe to its omnipotence and omniscience. There are things which it can certainly not accomplish. It cannot conjure away the scarcity of the factors of production, it cannot make people more prosperous, it cannot raise the productivity of labor. All it can achieve is to prevent gangsters from frustrating the efforts of those people who are intent upon promoting material well-being. Human Action p. 827; p. 831 State
There is no such thing as a nonspeculative investment. In a changing economy action always involves speculation. Investments may be good or bad, but they are always speculative. Human Action p. 514; p. 517 Investment
There is no such thing as a safe investment. Human Action p. 806; p. 810 Risk
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 p. 717; p. 721 Justice
There is no such thing as independence of the vicissitudes of the market. Human Action p. 806; p. 810 Risk
There is no such thing as prices outside the market. Prices cannot be constructed synthetically, as it were. Human Action p. 392; p. 395 Price
There is no such thing as quantitative economics. Human Action p. 348; p. 351 Statistics
There was no reason whatever to abandon the principle of free enterprise in the field of banking. Human Action p. 440; p. 443 Banking
Though a tyrant may temporarily rule through a minority if this minority is armed and the majority is not, in the long run a minority cannot keep the majority in subservience. The oppressed will rise in rebellion and cast off the yoke of tyranny. Human Action p. 189; p. 189 Revolution
Time for man is not a homogenous substance of which only length counts. It is not a more or a less in dimension. . . . It is an irreversible flux the fractions of which appear in different perspective according to whether they are nearer to or remoter from the instant of valuation and decision. Human Action pp. 480-81; p. 483 Time
To assign to everybody his proper place in society is the task of the consumers. Their buying and abstention from buying is instrumental in determining each individuals social position. Human Action p. 275; p. 275 Social Mobility
To defeat the aggressors is not enough to make peace durable. The main thing is to discard the ideology that generates war. Human Action p. 828; p. 832 War and Peace
Tools and machinery are primarily not labor-saving devices, but means to increase output per unit of input. Human Action p. 768; p. 774 Productivity
True, man cannot escape death. But for the present he is alive; and life, not death, takes hold of him... It is mans innate nature that he seeks to preserve and to strengthen his life, that he is discontented and aims at removing uneasiness, that he is in search of what may be called happiness. Human Action pp. 877-78; pp. 881-82 Death
Under capitalism, private property is the consummation of the self-determination of the consumers. Human Action p. 680; p. 683 Private Property
Under laissez faire peaceful coexistence of a multitude of sovereign nations is possible. Under government control of business it is impossible. Human Action p. 820; p. 824 War and Peace
Under such a socialist mode of production all personal incentives which selfishness provides under capitalism are removed, and a premium is put upon laziness and negligence. Whereas in a capitalist society selfishness incites everyone to the utmost diligence, in a socialist society it makes for inertia and laxity. Human Action p. 674; p. 677 Self-Interest
Under the gold standard gold is money and money is gold. It is immaterial whether or not the laws assign legal tender quality only to gold coins minted by the government. Human Action p. 425; pp. 428-29 Gold Standard
Understanding is always based on incomplete knowledge. Human Action p. 112; p. 112 Uncertainty
Value is not intrinsic, it is not in things. It is within us; it is the way in which man reacts to the conditions of his environment. Neither is value in words and doctrines, it is reflected in human conduct. It is not what a man or groups of men say about value that counts, but how they act. Human Action p. 96; p. 96 Value
Wages are not paid for labor expended, but for the achievements of labor, which differ widely in quality and quantity. Human Action p. 134; p. 134 Labor
War is the alternative to freedom of foreign investment as realized by the international capital market. Human Action p. 499; p. 502 War and Peace
We may call consciousness of kind, sense of community, or sense of belonging together the acknowledgement of the fact that all other human beings are potential collaborators in the struggle for survival because they are capable of recognizing the mutual benefits of cooperation. Human Action p. 144; p. 144 Society
We may fully endorse the religious and ethical precepts that declare it to be mans duty to assist his unlucky brethren whom nature has doomed. But the recognition of this duty does not answer the question concerning what methods should be resorted to for its performance. Human Action p. 835; p. 839 Charity
What distinguishes man from animals is the insight into the advantages that can be derived from cooperation under the division of labor. Human Action p. 827; p. 831 Civilization
What distinguishes the successful entrepreneur and promoter from other people is precisely the fact that he does not let himself be guided by what was and is, but arranges his affairs on the ground of his opinion about the future. He sees the past and the present as other people do; but he judges the future in a different way. Human Action p. 582; p. 585 Entrepreneurs
What economic calculation requires is a monetary system whose functioning is not sabotaged by government interference. Human Action p. 225; pp. 223-24 Economic Calculation
What governments call international monetary cooperation is concerted action for the sake of credit expansion. Human Action p. 473; p. 476 International Monetary Cooperation
What has transformed the limited war between royal armies into total war, the clash between peoples, is not technicalities of military art, but the substitution of the welfare state for the laissez-faire state. Human Action p. 820; p. 824 War and Peace
What is needed for a sound expansion of production is additional capital goods, not money or fiduciary media. The credit boom is built on the sands of banknotes and deposits. It must collapse. Human Action p. 559; p. 561 Credit
What is needed to prevent any further credit expansion is to place the banking business under the general rules of commercial and civil laws compelling every individual and firm to fulfill all obligations in full compliance with the terms of the contract. Human Action p. 440; p. 443 Banking
What produces the product are not toil and trouble in themselves, but the fact that the toiling is guided by reason. The human mind alone has the power to remove uneasiness. Human Action pp. 141-42; pp. 141-42 Production
What the government spends more, the public spends less. Public works are not accomplished by the miraculous power of a magic wand. They are paid for by funds taken away from the citizens. Human Action p. 655; p. 659 Deficits
What the incompatibility of war and capitalism really means is that war and high civilization are incompatible. Human Action p. 824; p. 828 War and Peace
What those people who ask for equality have in mind is always an increase in their own power to consume. Human Action p. 836; p. 840 Equality
When pushed hard by economists, some welfare propagandists and socialists admit that impairment of the average standard of living can only be avoided by the maintenance of capital already accumulated and that economic improvement depends on accumulation of additional capital. Human Action p. 844; p. 848 Capital
When treated as a chattel, man renders a smaller yield per unit of cost expended for current sustenance and guarding than domestic animals. Human Action p. 626; pp. 630-31 Slavery
Where there is no market economy, the best-intentioned provisions of constitutions and laws remain a dead letter. Human Action p. 283; p. 285 Freedom
Whether such a system of social security is a good or a bad policy is essentially a political problem. One may try to justify it by declaring that the wage earners lack the insight and the moral strength to provide spontaneously for their own future. But then it is not easy to silence the voices of those who ask whether it is not paradoxical to entrust the nation's welfare to the decisions of voters whom the law itself considers incapable of managing their own affairs; whether it is not absurd to make those people supreme in the conduct of government who are manifestly in need of a guardian to prevent them from spending their own income foolishly. Human Action p. 613; p. 617 Social Security
Whether we like it or not, it is a fact that economics cannot remain an esoteric branch of knowledge accessible only to small groups of scholars and specialists. Economics deals with society's fundamental problems; it concerns everyone and belongs to all. It is the main and proper study of every citizen. Human Action p. 875; p. 879 Economics
While all other animals are unconditionally driven by the impulse to preserve their own lives and by the impulse of proliferation, man has the power to master even these impulses. He can control both his sexual desires and his will to live. He can give up his life when the conditions under which alone he could preserve it seem intolerable. Man is capable of dying for a cause or of committing suicide. To live is for man the outcome of a choice, of a judgment of value. Human Action p. 19; pp. 19-20 Choice
With the progress of the semantic confusion which has converted the meaning of political terms into their very opposite, the epithet democratic is now lavishly spent. Human Action p. 838; p. 842 Language
Within the frame of social cooperation there can emerge between members of society feelings of sympathy and friendship and a sense of belonging together. These feelings are the source of mans most delightful and most sublime experiences. They are the most precious adornment of life; they lift the animal species man to the heights of a really human existence. However, they are not, as some have asserted, the agents that have brought about social relations. They are fruits of social cooperation. Human Action p. 144; p. 144 Society
Compulsory military service thus leads to compulsory labor service of all citizens who are able to work, male and female. . . . Mobilization has become total; the nation and the state have been transformed into an army; war socialism has replaced the market economy. Interventionism pp. 69-70 Conscription
Not everything that exists today is reasonable; but this does not mean that everything that does not exist is sensible. Interventionism p. 89 Reason
The first step which led from the soldiers war back to total war was the introduction of compulsory military service. It gradually did away with the difference between soldiers and citizens. Interventionism pp. 69-70 Conscription
The progressives who today masquerade as liberals may rant against fascism; yet it is their policy that paves the way for Hitlerism. Interventionism p. 88 Progressives
What mankind needs today is liberation from the rule of nonsensical slogans and a return to sound reasoning. Interventionism p. 90 Reason
A capitalist world organized on liberal principles knows no separate economic zones. In such a world, the whole of the earths surface forms a single economic territory. Liberalism p. 113 Protectionism
A free man must be able to endure it when his fellow men act and live otherwise than he considers proper. He must free himself from the habit, just as soon as something does not please him, of calling for the police. Liberalism p. 55 Tolerance
A liberal government is a contradictio in adjecto. Governments must be forced into adopting liberalism by the power of the unanimous opinion of the people; that they could voluntarily become liberal is not to be expected. Liberalism p. 68 Government
A return to the Middle Ages is out of the question if one is not prepared to reduce the population to a tenth or a twentieth part of its present number and, even further, to oblige every individual to be satisfied with a modicum so small as to be beyond the imagination of modern man. Liberalism p. 86 Conservatism
A return to the Middle Ages is out of the question if one is not prepared to reduce the population to a tenth or a twentieth part of its present number and, even further, to oblige every individual to be satisfied with a modicum so small as to be beyond the imagination of modern man. Liberalism p. 86 Population
All modern political parties and all modern party ideologies originated as a reaction on the part of special group interests fighting for a privileged status against liberalism. Liberalism p. 160 Political Parties
Any attempt to found a party of special interests on the basis of an equal apportionment of privileges among the majority of the population would be utterly senseless. A privilege accruing to the majority ceases to be such. Liberalism p. 168 Politics
As long as nations cling to protective tariffs, migration barriers, compulsory education, interventionism, and etatism, new conflicts capable of breaking out at any time into open warfare will continually arise to plague mankind. Liberalism pp. 150-51 Chauvinism
As soon as we surrender the principle that the state should not interfere in any questions touching on the individuals mode of life, we end by regulating and restricting the latter down to the smallest detail. Liberalism p. 54 Freedom
As soon as we surrender the principle that the state should not interfere in any questions touching on the individuals mode of life, we end by regulating and restricting the latter down to the smallest details. Liberalism p. 54 Drugs
Because of the enormous power that today stands at the command of the state, a national minority must expect the worst from a majority of a different nationality. As long as the state is granted the vast powers which it has today and which public opinion considers to be its right, the thought of having to live in a state whose government is in the hands of members of a foreign nationality is positively terrifying. It is frightful to live in a state in which at every turn one is exposed to persecution — masquerading under the guise of justice — by a ruling majority. It is dreadful to be handicapped even as a child in school on account of ones nationality and to be in the wrong before every judicial and administrative authority because one belongs to a national minority. Liberalism p. 141 Minorities
Continued adherence to a policy of compulsory education is utterly incompatible with efforts to establish lasting peace. Liberalism p. 114 Education
Every sort of chauvinism is mistaken. Liberalism p. 144 Chauvinism
Everyone who preaches the right of the stronger considers himself as the stronger. He who espouses the institution of slavery never stops to reflect that he himself could be a slave. Liberalism p. 64 Slavery
Few men know how to be temperate in their sexual life, and it seems especially difficult for aging persons to understand that they should cease entirely to indulge in such pleasures or, at least, do so in moderation. Liberalism p. 53 Sex
For the unemployed to be granted support by the government or by the unions only serves to enlarge the evil. If what is involved is a case of unemployment springing from dynamic changes in the economy, then the unemployment benefits only result in postponing the adjustment of the workers to the new conditions. Liberalism p. 84 Unemployment Insurance
Free labor is incomparably more productive than slave labor. Liberalism p. 21 Labor
Governments tolerate private property when they are compelled to do so, but they do not acknowledge it voluntarily in recognition of its necessity. Liberalism p. 68 Private Property
History provides an abundance of striking examples to show that, in the long run, even the most ruthless policy of repression does not suffice to maintain a government in power. Liberalism p. 45 Government
History provides an abundance of striking examples to show that, in the long run, even the most ruthless policy of repression does not suffice to maintain a government in power. Liberalism p. 45 Public Opinion
If it were in any way possible to grant this right of self-determination to every individual person, it would have to be done. Liberalism pp. 109-10 Secession
If one does not wish to aggravate artificially the friction that must arise from this living together of different groups, one must restrict the state to just those tasks that it alone can perform. Liberalism pp. 117-18 Races
If the goal of the Pan-European movement could be achieved, the world would not be in the least the better for it. The struggle of a united European continent against the great world powers outside its territory would be no less ruinous than is the present struggle of the countries of Europe among themselves. Liberalism p. 147 Europe
In a battle between force and an idea, the latter always prevails. Liberalism p. 50 Ideas
In Nature too, much may exist that we do not like. But we cannot change the essential character of natural events. If, for example, someone thinks — and there are some who have maintained as much — that the way in which man ingests his food, digests it, and incorporates it into his body is disgusting, one cannot argue the point with him. One must say to him: There is only this way or starvation. Liberalism p. 88 Nature
In spite of all persecutions, however, the institution of private property has survived. Neither the animosity of all governments, nor the hostile campaign waged against it by writers and moralists and by churches and religions, nor the resentment of the masses...has availed to abolish it. Liberalism p. 69 Government
In the long run no government can maintain itself in power if it does not have public opinion behind it, i.e., if those governed are not convinced that the government is good. Liberalism p. 41 Public Opinion
It is an established fact that alcoholism, cocainism, and morphinism are deadly enemies of life, of health, and of the capacity for work and enjoyment... But this is far from demonstrating that the authorities must interpose to suppress these vices by commercial prohibitions...More harmful still than all these pleasures, many will say, is the reading of evil literature. Liberalism p. 53 Drugs
It is by virtue of the division of labor that man is distinguished from the animals. It is the division of labor that has made feeble man, far inferior to most animals in physical strength, the lord of the earth and the creator of the marvels of technology. Liberalism p. 18 Division of Labor
It is obviously futile to attempt to eliminate unemployment by embarking upon a program of public works that would otherwise not have been undertaken. The necessary resources for such projects must be withdrawn by taxes or loans from the application they would otherwise have found. Unemployment in one industry can, in this way, be mitigated only to the extent that it is increased in another. Liberalism p. 85 Unemployment
It is true that all this straining and struggling to increase their standard of living does not make men any happier. Nevertheless, it is in the nature of man continually to strive for an improvement in his material condition. If he is forbidden the satisfaction of this aspiration, he becomes dull and brutish. The masses will not listen to exhortations to be moderate and contented; it may be that the philosophers who preach such admonitions are laboring under a serious self-delusion. If one tells people that their fathers had it much worse, they answer that they do not know why they should not have it still better. Liberalism p. 190 Progress
It may be safely taken for granted that up to now the natives have learned only evil ways from the Europeans, and not good ones. This is not the fault of the natives, but rather of their European conquerors, who have taught them nothing but evil. They have brought arms and engines of destruction of all kinds to the colonies; they have sent out their worst and most brutal individuals as officials and officers; at the point of the sword they have set up a colonial rule that in its sanguinary cruelty rivals the despotic system of the Bolsheviks. Liberalism p. 126 Colonialism
Let no one object that the struggle against morphinism and the struggle against evil literature are two quite different things. The only difference between them is that some of the same people who favor the prohibition of the former will not agree to the prohibition of the latter. Liberalism p. 54 Drugs
Liberalism limits its concern entirely and exclusively to earthly life and earthly endeavor. The kingdom of religion, on the other hand, is not of this world. Thus, liberalism and religion could both exist side by side without their spheres touching. . . . Liberalism proclaims tolerance for every religious faith and every metaphysical belief, not out of indifference for these higher things, but from the conviction that the assurance of peace within society must take precedence over everything and everyone. Liberalism pp. 55-56 Religion
Men always strive for an improvement in their conditions and always will. This is mans inescapable destiny. Liberalism p. 190 Progress
Men cannot be made happy against their will. Liberalism p. 46 Happiness
Modern civilization will not perish unless it does so by its own act of self-destruction. No external enemy can destroy it. Liberalism pp. 188-89 Civilization
Modern imperialism is distinguished from the expansionist tendencies of the absolute principalities by the fact that its moving spirits are not the members of the ruling dynasty, nor even of the nobility... but the mass of the people, who look upon it as the most appropriate means for the preservation of national independence. Liberalism p. 122 Imperialism
Modern society, based as it is on the division of labor, can be preserved only under conditions of lasting peace. Liberalism p. 44 War and Peace
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 p. 97 Economic Calculation
Most of us have no sympathy with the rich idler who spends his life in pleasure without ever doing any work. But even he fulfills a function in the life of the social organism. He sets an example of luxury that awakens in the multitude a consciousness of new needs and gives industry the incentive to fulfill them. Liberalism pp. 32-33 Luxuries
Nationalist policies, which always begin by aiming at the ruination of ones neighbor, must, in the final analysis, lead to the ruination of all. Liberalism p. 144 Nationalism
No chapter of history is steeped further in blood than the history of colonialism. Blood was shed uselessly and senselessly. Flourishing lands were laid waste; whole peoples destroyed and exterminated. All this can in no way be extenuated or justified. Liberalism p. 125 Colonialism
No wonder that all who have had something new to offer humanity have had nothing good to say of the state or its laws! Liberalism p. 58 Law
Nothing, however, is as ill founded as the assertion of the alleged equality of all members of the human race. Liberalism p. 28 Equality
Only a group that can count on the consent of the governed can establish a lasting regime. Whoever wants to see the world governed according to his own ideas must strive for domination over mens minds. It is impossible, in the long run, to subject men against their will to a regime that they reject. Liberalism p. 46 Public Opinion
Politically there is nothing more advantageous for a government than an attack on property rights, for it is always an easy matter to incite the masses against the owners of land and capital. . Liberalism p. 69 Government
Private property creates for the individual a sphere in which he is free of the state. It sets limits to the operation of the authoritarian will. It allows other forces to arise side by side with and in opposition to political power. Liberalism pp. 67-68 Private Property
Punishment should not be vindictive or retaliatory. The criminal has incurred the penalties of the law, but not the hate and sadism of the judge, the policemen, and every lynch-thirsty mob. Liberalism p. 58 Punishment
Rhetorical bombast, music and song resound, banners wave, flowers and colors serve as symbols, and the leaders seek to attach their followers to their own person. Liberalism has nothing to do with all this. It has no party flower and no party color, no party song and no party idols, no symbols and no slogans. It has the substance and the arguments. These must lead it to victory. Liberalism p. 193 Future
The alcoholic and the drug addict harm only themselves by their behavior; the person who violates the rules of morality governing mans life in society harms not only himself, but everyone. Liberalism p. 35 Drugs
The citizen must not be so narrowly circumscribed in his activities that, if he thinks differently from those in power, his only choice is either to perish or to destroy the machinery of state. Liberalism p. 59 Revolution
The concept of productivity is altogether subjective; it can never provide the starting-point for an objective criticism. Liberalism p. 65 Productivity
The continued existence of society depends upon private property. Liberalism p. 87 Private Property
The European worker today lives under more favorable and more agreeable outward circumstances than the pharaoh of Egypt once did, in spite of the fact that the pharaoh commanded thousands of slaves, while the worker has nothing to depend on but the strength and skill of his hands. Liberalism pp. 22-23 Standard of Living
The evil that a man inflicts on his fellow man injures both not only the one to whom it is done, but also the one who does it. Nothing corrupts a man so much as being an arm of the law and making men suffer. Liberalism p. 58 Corruption
The foundation of any and every civilization, including our own, is private ownership of the means of production. Whoever wishes to criticize modern civilization, therefore, begins with private property. Liberalism p. 63 Civilization
The goal of the domestic policy of liberalism is the same as that of its foreign policy: peace. It aims at peaceful cooperation just as much between nations as within each nation. Liberalism p. 105 Peace
The haves do not have any more reason to support the institution of private ownership of the means of production than do the have-nots. Liberalism p. 186 Private Property
The luxury of today is the necessity of tomorrow. Every advance first comes into being as the luxury of a few rich people, only to become, after a time, an indispensable necessity taken for granted by everyone. Luxury consumption provides industry with the stimulus to discover and introduce new, things. It is one of the dynamic factors in our economy. To it we owe the progressive innovations by which the standard of living of all strata of the population has been gradually raised. Liberalism p. 32 Luxuries
The minority that desires to see its ideas triumph must strive by intellectual means to become the majority. Liberalism p. 59 Public Opinion
The only way to counteract tendencies toward protectionism and autarky is to recognize their harmfulness and to appreciate the harmony of the interests of all nations. Liberalism pp. 146-47 Europe
The program of liberalism, therefore, if condensed into a single word, would have to read: property, that is, private ownership of the means of production. . . . All the other demands of liberalism result from this fundamental demand. Liberalism p. 19 Private Property
The right of self-determination in regard to the question of membership in a state thus means: whenever the inhabitants of a particular territory, whether it be a single village, a whole district, or a series of adjacent districts, make it known, by a freely conducted plebiscite, that they no longer wish to remain united to the state to which they belong at the time, but wish either to form an independent state or to attach themselves to some other state, their wishes are to be respected and complied with. This is the only feasible and effective way of preventing revolutions and civil and international wars. Liberalism p. 109 Secession
The situation of having to belong to a state to which one does not wish to belong is no less onerous if it is the result of an election than if one must endure it as the consequence of a military conquest. Liberalism p. 119 Secession
The whole of mankind's progress has had to be achieved against the resistance and opposition of the state and its power of coercion. Liberalism p. 58 State
There can be no more grievous misunderstanding of the meaning and nature of liberalism than to think that it would be possible to secure the victory of liberal ideas by resorting to the methods employed today by the other political parties. Liberalism p. 158 Political Parties
There cannot be the slightest doubt that migration barriers diminish the productivity of human labor. Liberalism p. 139 Immigration
There is an inherent tendency in all governmental power to recognize no restraints on its operation and to extend the sphere of its dominion as much as possible. To control everything, to leave no room for anything to happen of its own accord without the interference of the authorities--this is the goal for which every ruler secretly strives. Liberalism p. 67 Politics
There is but one field of public administration in which the criterion of success or failure is unquestionable: the waging of war. But even here the only thing certain is whether the operation has been crowned with success. Liberalism p. 98 War and Peace
There is simply no other choice than this: either to abstain from interference in the free play of the market, or to delegate the entire management of production and distribution to the government. Either capitalism or socialism: there exists no middle way. Liberalism p. 79 Capitalism vs. Socialism
There is, in fact, only one solution: the state, the government, the laws must not in any way concern themselves with schooling or education. Public funds must not be used for such purposes. The rearing and instruction of youth must be left entirely to parents and to private associations and institutions. Liberalism p. 115 Education
To the parties of special interests, all political questions appear exclusively as problems of political tactics. Their ultimate goal is fixed for them from the start. Their aim is to obtain, at the cost of the rest of the population, the greatest possible advantages and privileges for the groups they represent. The party platform is intended to disguise this objective and give it a certain appearance of justification, but under no circumstances to announce it publicly as the goal of party policy. The members of the party, in any case, know what their goal is; they do not need to have it explained to them. How much of it ought to be imparted to the world is, however, a purely tactical question. Liberalism pp. 175-76 Political Parties
Victorious war is an evil even for the victor...peace is always better than war. Liberalism p. 24 War and Peace
Violent resistance against the power of the state is the last resort of the minority in its effort to break loose from the oppression of the majority. The minority that desires to see its ideas triumph must strive by intellectual means to become the majority. Liberalism p. 59 Revolution
We see that as soon as we surrender the principle that the state should not interfere in any questions touching of the individuals mode of life, we end by regulating and restricting the latter down to the smallest detail. The personal freedom of the individual is abrogated. He becomes a slave of the community bound to obey the dictates of the majority. Liberalism p. 54 State
What alone enables mankind to advance and distinguishes man from the animals is social cooperation. Liberalism p. 24 Social Cooperation
Whether or not the Russian people are to discard the Soviet system is for them to settle among themselves. The land of the knout and the prison-camp no longer poses a threat to the world today. With all their will to war and destruction, the Russians are no longer capable seriously of imperiling the peace of Europe. One may therefore safely let them alone. Liberalism p. 154 Russia
Whoever preaches the return to simple forms of the economic organization of society ought to keep in mind that only our type of economic system offers the possibility of supporting in the style to which we have become accustomed today the number of people who now populate the earth. A return to the Middle Ages means the extermination of many hundreds of millions of people. Liberalism p. 189 Progress
Go into the home of the average American family and you will see for whom the wheels of the machines are turning. Liberty & Property p. 22 Consumer Sovereignty
Government is essentially the negation of liberty. Liberty & Property p. 19 Government
Government is not, as some people like to say, a necessary evil; it is not an evil, but a means, the only means available to make peaceful human coexistence possible. But it is the opposite of liberty. It is beating, imprisoning, hanging. Whatever a government does it is ultimately supported by the actions of armed constables. If the government operates a school or a hospital, the funds required are collected by taxes, i.e., by payments exacted from the citizens. Liberty & Property p. 19 Government
In the political field it is always the will of the majority that prevails, and the minorities must yield to it. Liberty & Property p. 12 Majority Rule
In the political sphere, there is no means for an individual or a small group of individuals to disobey the will of the majority. But in the intellectual field private property makes rebellion possible. Liberty & Property p. 12 Majority Rule
Lenin's ideal was to build a nations production effort according to the model of the post office. Liberty & Property p. 14 Lenin, Vladimir
Liberty is always freedom from the government. Liberty & Property p. 19 Liberty
Society is essentially the mutual exchange of services. Liberty & Property pp. 18-19 Society
The characteristic feature of capitalism that distinguishes it from pre-capitalist methods of production was its new principle of marketing. Capitalism is not simply mass production, but mass production to satisfy the needs of the masses. Liberty & Property p. 9 Capitalism
The distinctive principle of Western social philosophy is individualism. Liberty & Property p. 25 Western Civilization
The liquidation of all dissenters is the condition that will bring us what the communists call freedom. Liberty & Property p. 15 Robinson, Joan
The market process is a daily repeated plebiscite, and it ejects inevitably from the ranks of profitable people those who do not employ their property according to the orders given by the public. Liberty & Property p. 10 Market Process
The social system of private property and limited government is the only system that tends to debarbarize all those who have the innate capacity to acquire personal culture. Liberty & Property p. 26 Barbarism
The social system of private property and limited government is the only system that tends to debarbarize all those who have the innate capacity to acquire personal culture. Liberty & Property p. 26 Western Civilization
The Welfare State with its methods of easy money, credit expansion and undisguised inflation continually takes bites out of all claims payable in units of the nations legal tender. Liberty & Property p. 25 Welfare
What vitiates entirely the socialists economic critique of capitalism is their failure to grasp the sovereignty of the consumers in the market economy. Liberty & Property p. 13 Consumer Sovereignty
Capitalism needs neither propaganda nor apostles. Its achievements speak for themselves. Capitalism delivers the goods. Money, Method, and the Market Process p. 242 Capitalism
Even if the fundamental difficulties standing in the way of index calculations could be overcome, the practical difficulties remaining would still be very great. Money, Method, and the Market Process p. 88 Imperialism
If we had gold coins in actual daily circulation everywhere in the world . . . the depreciation of gold would . . . not have taken place at all. Money, Method, and the Market Process p. 84 Gold Standard
It is hopeless to expect a change by an international agreement. If a country thinks that more free trade is to its own advantage, then it may always open its frontiers. Money, Method, and the Market Process p. 136 Free Trade
It is inconsistent to support a policy of low trade barriers. Either trade barriers are useful, then they cannot be high enough; or they are harmful, then they have to disappear completely. Money, Method, and the Market Process pp. 135-36 Free Trade
Reason is mans foremost equipment in the biological struggle for the preservation and expansion of his existence and survival. It would not have any function and would not have developed at all in the fools paradise. Money, Method, and the Market Process p. 35 Reason
Socialism is unrealizable as an economic system because a socialist society would not have any possibility of resorting to economic calculation. This is why it cannot be considered as a system of society's economic organization. It is a means to disintegrate social cooperation and to bring about poverty and chaos. Money, Method, and the Market Process p. 310 Socialism
The market economy — capitalism — is a social system of consumers' supremacy. Money, Method, and the Market Process p. 233 Capitalism
The problem of rendering the underdeveloped nations more prosperous cannot be solved by material aid. It is a spiritual and intellectual problem. Prosperity is not simply a matter of capital investment. It is an ideological issue. What the underdeveloped countries need first is the ideology of economic freedom and private enterprise. Money, Method, and the Market Process p. 173 Economic Development
The socialists of Eastern Germany, the self-styled German Democratic Republic, spectacularly admitted the bankruptcy of the Marxian dreams when they built a wall to prevent their comrades from fleeing into the non-socialist part of Germany. Money, Method, and the Market Process p. 231 Socialism
The truth is that the United States is subsidizing all over the world the worst failure of history: socialism. But for these lavish subsidies the continuation of the socialist schemes would have become long since unfeasible. Money, Method, and the Market Process p. 173 Foreign Aid
We must comprehend that it is impossible to improve the economic conditions of the underdeveloped nations by grants in aid. If we send them foodstuffs to fight famines, we merely relieve their governments from the necessity of abandoning their disastrous agricultural policies. Money, Method, and the Market Process p. 172 Foreign Aid
What makes natural science possible is the power to experiment; what makes social science possible is the power to grasp or to comprehend the meaning of human action. Money, Method, and the Market Process p. 9 Natural Sciences
A nation that believes in itself and its future, a nation that means to stress the sure feeling that its members are bound to one another not merely by accident of birth but also by the common possession of a culture that is valuable above all to each of them, would necessarily be able to remain unperturbed when it saw individual persons shift to other nations. Nation, State, and Economy p. 76 Migration
After all, culture is wealth. Without well-being, without wealth, there never has been culture. Nation, State, and Economy p. 74 Culture
All attempts to create a substantive international law through whose application disputes among nations could be decided have miscarried. Nation, State, and Economy p. 90 International Law
All pacifism not based on a liberal economic order built on private ownership of the means of production always remains utopian. Nation, State, and Economy p. 94 Pacifism
Community of language binds and difference of language separates persons and peoples. Nation, State, and Economy p. 13 Language
Economic history is the development of the division of labor. Nation, State, and Economy p. 134 Division of Labor
Economically considered, war and revolution are always bad business. Nation, State, and Economy p. 152 War and Peace
Every conservative policy, however, is fated from the start to fail; after all, its essence is to stop something unstoppable, to resist a development that cannot be impeded. Nation, State, and Economy p. 119 Conservatism
Every reactionary lacks intellectual independence. Nation, State, and Economy p. 119 Conservatism
For fully developed imperialism, the individual no longer has value. He is valuable to it only as a member of the whole, as a soldier of an army. Nation, State, and Economy p. 78 Imperialism
From the purely economic point of view nothing speaks against free trade and everything against protectionism. Nation, State, and Economy p. 64 Protectionism
Full freedom of movement of persons and goods, the most comprehensive protection of the property and freedom of each individual, removal of all state compulsion in the school system, in short, the most exact and complete application of the ideas of 1789, are the prerequisites of peaceful conditions. Nation, State, and Economy p. 96 War and Peace
He who, from the utilitarian standpoint, rejects the rule of some over others and demands the full right of self-determination for individuals and peoples has thereby rejected war also. Nation, State, and Economy pp. 85-86 Pacifism
History should teach us to recognize causes and to understand driving forces; and when we understand everything, we will forgive everything. Nation, State, and Economy p. 2 History
Hunger and anarchy — that is the result of the protectionist policy. Nation, State, and Economy p. 75 Protectionism
In regard to economic policy, socialism and communism are identical. Nation, State, and Economy p. 178n Communism
In relation to the immense sacrifices that the state demands of the individual through the blood tax, it seems rather incidental whether it compensates the soldier more or less abundantly for the loss of time that he suffers from his military-service obligation. Nation, State, and Economy p. 165 Conscription
In Russia socialism certainly is not a movement of the immense majority. That it claims to be a movement in the interest of the immense majority is nothing special; all movements have claimed that. It is certain that the rule of the Bolsheviks in Russia rests just as much on possession of the government apparatus as the rule of the Romanovs once did. Nation, State, and Economy p. 204 Russia
It is a matter of indifference whether one produces foodstuffs and raw materials at home oneself or, if it seems more economic, obtains them from abroad in exchange for other products that one has produced. Nation, State, and Economy p. 84 International Trade
It is characteristic of very great persons to move forward to highest accomplishment out of an inner drive; others require an external impulse to overcome deep-rooted inertia and to develop their own selves. Nation, State, and Economy p. 213 Genius
It is not the task of history to gratify the need of the masses for heroes and scapegoats. Nation, State, and Economy p. 1 History
It is not the task of history to project the hatred and disagreements of the present back into the past and to draw from battles fought long ago weapons for the disputes of ones own time. Nation, State, and Economy p. 2 History
It is true that utilitarianism and liberalism postulate the attainment of the greatest possible productivity of labor as the first and most important goal of policy. But they in no way do this out of misunderstanding of the fact that human existence does not exhaust itself in material pleasures. . . . Not out of irreligiosity do they demand religious freedom but out of deepest intimacy of religious feeling, which wants to make inner experience free from every raw influence of outward power. Nation, State, and Economy p. 215 Religion
Liberalism knows no conquests, no annexations; just as it is indifferent towards the state itself, so the problem of the size of the state is unimportant to it. It forces no one against his will into the structure of the state. Whoever wants to emigrate is not held back. When a part of the people of the state wants to drop out of the union, liberalism does not hinder it from doing so. Colonies that want to become independent need only do so. The nation as an organic entity can be neither increased nor reduced by changes in states; the world as a whole can neither win nor lose from them. Nation, State, and Economy pp. 39-40 Secession
Liberalism, which demands full freedom of the economy, seeks to dissolve the difficulties that the diversity of political arrangements pits against the development of trade by separating the economy from the state. It strives for the greatest possible unification of law, in the last analysis for world unity of law. But it does not believe that to reach this goal, great empires or even a world empire must be created. Nation, State, and Economy pp. 37-38 Law
Marxian socialism, as a fundamentally revolutionary movement, is inwardly inclined toward imperialism. No one will dispute that, least of all the Marxists themselves, who straightforwardly proclaim the cult of revolution. Nation, State, and Economy p. 206 Imperialism
Modern tyrants have things much easier than their predecessors…. No Phillip II could paralyze freedom of thought more severely than a modern censor. How much more efficient than the guillotine of Robespierre are the machine guns of Trotsky! Nation, State, and Economy p. 216 Media
Nation and race do not coincide; there is no nation of pure blood. All peoples have arisen from a mixture of races. Nation, State, and Economy p. 10 Races
Neither as judges allotting praise and blame nor as avengers seeking out the guilty should we face the past. We seek truth, not guilt; we want to know how things came about to understand them, not to issue condemnations. Nation, State, and Economy p. 1 History
Neither fame nor honor nor wealth nor happiness was to be found on this path. Nation, State, and Economy p. 75 Imperialism
No people and no part of a people shall be held against its will in a political association that it does not want. Nation, State, and Economy p. 34 Secession
Not through war and victory but only through work can a nation create the preconditions for the well-being of its members. Nation, State, and Economy p. 87 Material Well-Being
Not through war and victory but only through work can a nation create the preconditions for the well-being of its members. Conquering nations finally perish. Nation, State, and Economy p. 87 War and Peace
Not with weapons but only with the spirit can a minority overcome the majority. Nation, State, and Economy p. 106 Spirit
Nothing is more stupid than efforts to justify today's imperialism, with all of its brutalities, by reference to atrocities of generations long since gone. Nation, State, and Economy p. 76 Imperialism
Nothing is more useless than complaining over errors that can no longer be rectified, nothing more vain than regret. Nation, State, and Economy p. 1 Recovery
One can say without exaggeration that inflation is an indispensable intellectual means of militarism. Without it, the repercussions of war on welfare would become obvious much more quickly and penetratingly; war-weariness would set in much earlier. Nation, State, and Economy p. 163 Inflation
People can today seek salvation only in democracy, in the right of self-determination both of individuals and of nations. Nation, State, and Economy p. 131 Democracy
Perhaps they think that they will exercise power for the general good, but that is what all those with power have believed. Power is evil in itself, regardless of who exercises it. Nation, State, and Economy p. 219 Power
Political realism, that hodgepodge of cynicism, lack of conscience, and unvarnished selfishness. Nation, State, and Economy p. 69 Politics
Speculation anticipates future price changes; its economic function consists in evening out price differences between different places and different points in time and, through the pressure which prices exert on production and consumption, in adapting stocks and demands to each other. Nation, State, and Economy p. 145 Speculation
The armament industry created militarism and imperialism, however, just as little as, say, the distilleries created alcoholism or publishing houses trashy literature. The supply of weapons did not call forth the demand, but rather the other way around. Nation, State, and Economy p. 155 Military-Industrial Complex
The beginnings of trade make understanding necessary between members of different tribes. Nation, State, and Economy p. 21 Races
The essence of so-called war prosperity; it enriches some by what it takes from others. It is not rising wealth but a shifting of wealth and income. Nation, State, and Economy p. 158 War and Peace
The idea of freedom is both national and cosmopolitan. It is revolutionary, for it wants to abolish all rule incompatible with its principles, but it is also pacifistic. What basis for war could there still be, once all peoples had been set free? Nation, State, and Economy p. 35 Nationalism
The imperialistic people's state scarcely differs from the old principle state in its interpretation of sovereignty and its boundaries. Like the latter, it knows no other limits to the expansion of its rule than those drawn by the opposition of an equally strong power. Nation, State, and Economy p. 79 Imperialism
The only true national autonomy is the freedom of the individual against the state and society. Nation, State, and Economy p. 96 Freedom
The pacifistic line of argument goes too far if it simply denies that a people can gain by war. Nation, State, and Economy pp. 152-53 War and Peace
The person who has a low opinion of the mind is not the one who wants to make it free from all external regulation but rather the one who wants to control it by penal laws and machine guns. Nation, State, and Economy p. 215 Mind
The principles of freedom, which have gradually been gaining ground everywhere since the eighteenth century, gave people freedom of movement. Nation, State, and Economy p. 58 Migration
The public firm can nowhere maintain itself in free competition with the private firm; it is possible today only where it has a monopoly that excludes competition. Even that alone is evidence of its lesser economic productivity. Nation, State, and Economy p. 186 Bureaucracy
The romantic longing for wild adventures, for quarreling and freedom from external restraint, is itself only a sign of inner emptiness; it clings to the superficial and does not strive for depth. Nation, State, and Economy pp. 212-13 Romanticism
The sacrifice that is demanded of the soldier serving by compulsion can be compensated only with intangible values, never with material ones. Nation, State, and Economy p. 166 Patriotism
The size of a states territory therefore does not matter. Nation, State, and Economy p. 82 Secession
The syndicalistically organized state would be no socialist state but a state of worker capitalism, since the individual worker groups would be owners of the capital. Syndicalism would make all repatterning of production impossible; it leaves no room free for economic progress. In its entire intellectual character it suits the age of peasants and craftsmen, in which economic relations are rather stationary. Nation, State, and Economy p. 199 Syndicalism
The way to eternal peace does not lead through strengthening state and central power, as socialism strives for. Nation, State, and Economy p. 96 War and Peace
The welfare of a people lies not in casting other peoples down but in peaceful collaboration. Nation, State, and Economy p. 75 Imperialism
The world community of labor is based on the reciprocal advantage of all participants. Whoever wants to maintain and extend it must renounce all resentment in advance. Nation, State, and Economy p. 220 International Trade
They strive for welfare and for wealth not because they see the highest value in them but because they know that all higher and inner culture presupposes outward welfare. Nation, State, and Economy p. 215 Culture
War can really cause no economic boom, at least not directly, since an increase in wealth never does result from destruction of goods. Nation, State, and Economy p. 154 War and Peace
War prosperity is like the prosperity that an earthquake or a plague brings. The earthquake means good business for construction workers, and cholera improves the business of physicians, pharmacists, and undertakers; but no one has for that reason yet sought to celebrate earthquakes and cholera as stimulators of the productive forces in the general interest. Nation, State, and Economy p. 154 War and Peace
War socialism was by no means complete socialism, but it was full and true socialization without exception if one had kept on the path that had been taken. Nation, State, and Economy p. 173 War and Peace
What counts is not the letter of the law but the substantive content of the legal norm. Nation, State, and Economy p. 173 Law
Whoever wants to speak with his fellow men and to understand what they say must use their language. Everyone must therefore strive to understand and speak the language of his environment. For that reason individuals and minorities adopt the language of the majority. Nation, State, and Economy pp. 27-28 Language
Whoever wishes peace among peoples must fight statism. Nation, State, and Economy p. 77 State
Whoever wishes peace among peoples must fight statism. Nation, State, and Economy p. 77 War and Peace
As for the German historians, I found fault in their crude and materialistic position on power. To them power meant bayonets and cannons, and realistic policies were those relying solely on militarism. Everything else they called illusion, idealism, and utopianism. Notes and Recollections p. 5 Historicism
How one carries on in the face of unavoidable catastrophe is a matter of temperament. In high school, as was custom, I had chosen a verse by Virgil to be my motto: Tu ne cede malis sed contra audentior ito. Do not give in to evil, but proceed ever more boldly against it. I recalled these words during the darkest hours of the war. Again and again I had met with situations from which rational deliberation found no means of escape; but then the unexpected intervened, and with it came salvation. I would not lose courage even now. I wanted to do everything an economist could do. I would not tire in saying what I knew to be true. Notes and Recollections p. 70 Autobiographical
My theories explain, but cannot slow the decline of a great civilization. I set out to be a reformer, but only became the historian of decline. Notes and Recollections p. 115 Autobiographical
Otto Bauer was too bright not to realize that I was right, but he never forgave me for having turned him into a Millerand. The attacks of his fellow Bolshevists hit close to home, but he directed his animosity toward me instead of toward his opponents. A powerful loather, he opted for ignoble means to destroy me. Notes and Recollections pp. 18-19 Autobiographical
What distinguishes the Austrian School and will lend it everlasting fame is its doctrine of economic action, in contrast to one of economic equilibrium or nonaction. Notes and Recollections p. 36 Austrian Economists
[In a liberal world] it makes no difference where the frontiers of a country are drawn... In such a world the people of every village or district could decide by plebiscite to which state they want to belong. Omnipotent Government p. 92 Borders
[Y]ou simply cannot argue with nationalists. The Germans are fully convinced that compulsion applied by them to other nations is fair and just, while compulsion applied to themselves is criminal. Omnipotent Government pp. 257-58 International Law
A nation, therefore, has no right to say to a province: You belong to me, I want to take you. A province consists of its inhabitants. If anybody has a right to be heard in this case it is these inhabitants. Boundary disputes should be settled by plebiscite. Omnipotent Government p. 90 Secession
A new type of superstition has got hold of peoples minds, the worship of the state. People demand the exercise of the methods of coercion and compulsion, of violence and threat. Woe to anybody who does not bend his knee to the fashionable idols! Omnipotent Government p. 11 State
A state without territory is an empty concept. A state without sovereignty is a contradiction in terms. Omnipotent Government p. 46 Sovereignty
Almost all the fathers of socialism were members of the upper middle class or of the professions. Omnipotent Government p. 118 Intellectuals
Both force and money are impotent against ideas. Omnipotent Government p. 210 Ideas
But what is needed for a satisfactory solution of the burning problem of international relations is neither a new office with more committees, secretaries, commissioners, reports, and regulations, nor a new body of armed executioners, but the radical overthrow of mentalities and domestic policies which must result in conflict. Omnipotent Government p. 6 War and Peace
Chauvinism has not begotten nationalism. Its chief function in the scheme of nationalist policies is to adorn the shows and festivals of nationalism. People overflow with joy and pride when the official speakers hail them as the elite of mankind and praise the immortal deeds of their ancestors and the invincibility of their armed forces. But when the words fade away and the celebration reaches its end, people return home and go to bed. They do not mount the battlehorse. Omnipotent Government p. 125 Chauvinism
Conceit and overvaluation of ones own nation are quite common. But it would be wrong to assume that hatred and contempt of foreigners are natural and innate qualities. Even soldiers fighting to kill their enemies do not hate the individual foe, if they happen to meet him apart from the battle. Omnipotent Government p. 124 Chauvinism
Corruption is an evil inherent in every government not controlled by a watchful public opinion. Omnipotent Government p. 206 Corruption
Democracy too is not divine. Omnipotent Government p. 47 Democracy
Every act of the government which can and must be done by administrative discretion with regard to the special merits of each case can be used for the achievement of the governments political aims. Omnipotent Government p. 83 Guns
Every nation, whether rich or poor, powerful or feeble, can at any hour once again adopt the gold standard. Omnipotent Government p. 252 Gold Standard
Every step which leads from capitalism toward planning is necessarily a step nearer to absolutism and dictatorship. Omnipotent Government p. 53 Interventionism
For all nations the necessity of being ready for defense will mean a heavy burden. Not only economic but moral and political conditions will be affected. Militarism will supplant democracy; civil liberties will vanish wherever military discipline must be supreme. Omnipotent Government p. 287 Military
Free trade begins at home. Omnipotent Government p. 237 Free Trade
Freedom, democracy, peace, and private property are deemed good because they are the best means for promoting human happiness and welfare. Liberalism wants to secure to man a life free from fear and want. That is all. Omnipotent Government p. 51 Classical Liberalism
From the political point of view it is no doubt dangerous that men are so easily stirred by bombastic talk. But the political actions of modern nationalism cannot be explained or excused by chauvinist intoxication. They are the outcome of cool though misguided reasoning. Omnipotent Government p. 125 Intellectuals
Governments become liberal only when forced to by the citizens. Omnipotent Government p. 58 Good Government
Historical knowledge is indispensable for those who want to build a better world. Omnipotent Government p. 14 History
History has witnessed the failure of many endeavors to impose peace by war, cooperation by coercion, unanimity by slaughtering dissidents. . . . A lasting order cannot be established by bayonets. Omnipotent Government pp. 67 War and Peace
Hitler and his clique conquered Germany by brutal violence, by murder and crime. But the doctrines of Nazism had got hold of the German mind long before then. Persuasion, not violence, had converted the immense majority of the nation to the tenets of militant nationalism. If Hitler had not succeeded in winning the race for dictatorship, somebody else would have won it. Omnipotent Government pp. 221-22 Nazism
If a man says socialism, or planning, he always has in view his own brand of socialism, his own plan. Thus planning does not in fact mean preparedness to cooperate peacefully. It means conflict. Omnipotent Government p. 243 Social Planning
If our community does not beget men who have the power to make sound social principles generally acceptable, civilization is lost, whatever the system of government may be. Omnipotent Government p. 119 Political Parties
If some peoples pretend that history or geography gives them the right to subjugate other races, nations, or peoples, there can be no peace. Omnipotent Government p. 15 War and Peace
If you want to abolish war, you must eliminate its causes. What is needed is to restrict government activities to the preservation of life, health, and private property, and thereby to safeguard the working of the market. Sovereignty must not be used for inflicting harm on anyone, whether citizen or foreigner. Omnipotent Government p. 138 War and Peace
Imagine a world order in which liberalism is supreme . . . there is private property in the means of production. The working of the market is not hampered by government interference. There are no trade barriers; men can live and work where they want. Omnipotent Government pp. 91-92 Classical Liberalism
In our age of international division of labor, free trade is the prerequisite for any amicable arrangement between nations. Omnipotent Government p. 6 Free Trade
In proportion as armaments increased the sales of munitions plants, they reduced the sales of all other industries. Omnipotent Government p. 133 Military
In the etatist state entrepreneurs are at the mercy of officialdom. Officials enjoy discretion to decide questions on which the existence of every firm depends. They are practically free to ruin any entrepreneur they want to. They had the power not only to silence these objectors but even to force them to contribute to the party funds of nationalism. Omnipotent Government p. 132 Regularity
In the eyes of the Marxians, Ricardo, Freud, Bergson, and Einstein are wrong because they are bourgeois; in the eyes of the Nazis they are wrong because they are Jews. Omnipotent Government p. 145 Marxism
In the long run there cannot be such a thing as moderate protectionism. If people regard imports as an injury, they will not stop anywhere on the way toward autarky. Why tolerate an evil if there seems to be a way to get rid of it? Omnipotent Government p. 250 Protectionism
In the realm of nature we cannot know anything about final causes, by reference to which events can be explained. But in the field of human actions there is the finality of acting men. Men make choices. They aim at certain ends and they apply means in order to attain the ends sought. Omnipotent Government p. 120 Natural Sciences
Individualism resulted in the fall of autocratic government, the establishment of democracy, the evolution of capitalism, technical improvements, and an unprecedented rise in standards of living. It substituted enlightenment for old superstitions, scientific methods of research for inveterate prejudices. Omnipotent Government p. 8 Individualism
Inflation is essentially antidemocratic. Omnipotent Government p. 252 Inflation
Interventionism begets economic nationalism. It thus kindles the antagonism resulting in war. An abandonment of economic nationalism is not feasible if nations cling to interference with business. Free trade in international relations requires domestic free trade. Omnipotent Government p. 66 Nationalism
It is in the nature of every application of violence that it tends toward a transgression of the limit within which it is tolerated and viewed as legitimate. Even the best discipline cannot always prevent police officers from striking harder than circumstances require, or prison wardens from inflicting brutalities on inmates. Omnipotent Government p. 156 Police Power
It is in the nature of the men handling the apparatus of compulsion and coercion to overrate its power to work, and to strive at subduing all spheres of human life to its immediate influence. Omnipotent Government p. 58 Government
It is not God. It is simply compulsion and coercion; it is the police power. Omnipotent Government p. 47 State
It is not true that the dangers to the maintenance of peace, democracy, freedom, and capitalism are a result of a revolt of the masses. They are an achievement of scholars and intellectuals, of sons of the well-to-do, of writers and artists pampered by the best society. Omnipotent Government p. 119 Classes
It is obvious that every constitutional system can be made to work satisfactorily when the rulers are equal to their task. The problem is to find the men fit for office. Omnipotent Government p. 120 Political Parties
It is the typical policy of aprs nous le deluge. Lord Keynes, the champion of this policy, says: In the long run we are all dead. But unfortunately nearly all of us outlive the short run. We are destined to spend decades paying for the easy money orgy of a few years. Omnipotent Government p. 252 Keynes, John Maynard
It is vain to fight totalitarianism by adopting totalitarian methods. Freedom can only be won by men unconditionally committed to the principles of freedom. The first requisite for a better social order is the return to unrestricted freedom of thought and speech. Omnipotent Government p. 14 Totalitarianism
It makes no difference where the frontiers of a country are drawn. Nobody has a special material interest in enlarging the territory of the state in which he lives; nobody suffers loss if a part of this area is separated from the state. It is also immaterial whether all parts of the states territory are in direct geographical connection, or whether they are separated by a piece of land belonging to another state. It is of no economic importance whether the country has a frontage on the ocean or not. In such a world the people of every village or district could decide by plebiscite to which state they wanted to belong. Omnipotent Government p. 92 Secession
It was not the first time in French history that the nationalists put their anti-Semitism above their French patriotism. In the Dreyfus Affair they fought vigorously in order to let a treacherous officer quietly evade punishment while an innocent Jew languished in prison. Omnipotent Government p. 190 Anti-Semitism
It would be a mistake to ascribe the ascendancy of modern nationalism to human wickedness. The nationalists are not innately aggressive men; they become aggressive through their conception of nationalism. They are confronted with conditions which were unknown to the champions of the old principle of self-determination. And their etatist prejudices prevent them from finding a solution for the problems they have to face other than that provided by aggressive nationalism. Omnipotent Government pp. 81-82 Nationalism
Laissez faire, laissez passer does not mean: let the evils last. On the contrary, it means: do not interfere with the operation of the market because such interference must necessarily restrict output and make people poorer. Omnipotent Government p. x Laissez Faire
Lenin was cynical enough to say that revolutions must be achieved with the catchwords of the day. And he achieved his own revolution by affirming publicly — against his better conviction — the catchwords that had taken hold of public opinion. Omnipotent Government p. 127 Lenin, Vladimir
Life consists in adjusting oneself to actual conditions and in taking account of things as they really are, not as one would wish them to be. Omnipotent Government p. 13 Reality
Mahatma Gandhi expresses a loathing for the devices of the petty West and of devilish capitalism. But he travels by railroad or by motor car and, when ill, goes for treatment to a hospital equipped with the most refined instruments of Western surgery. Omnipotent Government p. 102 Gandhi, Mahatma
Majorities are no less exposed to error and frustration than kings and dictators. That a fact is deemed true by the majority does not prove its truth. Omnipotent Government p. 47 Democracy
Man has been able to centuple his progeny and still provide for each individual a much better life than nature offered to his nonhuman ancestors some hundred thousand years ago. Omnipotent Government p. 121 Population
Man is born an asocial and antisocial being. The newborn child is a savage. Egoism is his nature. Only the experience of life and the teachings of his parents, his brothers, sisters, playmates, and later of other people force him to acknowledge the advantages of social cooperation and accordingly to change his behavior. Omnipotent Government p. 241 Civilization
Mankind has not reached the stage of ultimate technological perfection. There is ample room for further progress and for further improvement of the standards of living. The creative and inventive spirit subsists notwithstanding all assertions to the contrary. But it flourishes only where there is economic freedom. Omnipotent Government p. x Standard of Living
Many pioneers of these industrial changes, it is true, became rich. But they acquired their wealth by supplying the public with motor cars, airplanes, radio sets, refrigerators, moving and talking pictures, and variety of less spectacular but no less useful innovations. These new products were certainly not an achievement of offices and bureaucrats. Omnipotent Government pp. Ix-x Capitalism
Modern war is not a war of royal armies. It is a war of the peoples, a total war. It is a war of states which do not leave to their subjects any private sphere; they consider the whole population a part of the armed forces. Whoever does not fight must work for the support and equipment of the army. Army and people are one and the same. The citizens passionately participate in the war. For it is their state, their God, who fights. Omnipotent Government p. 104 War and Peace
Nazi economists wasted much time in searching the genealogical tree of Carl Menger for Jewish ancestors; they did not succeed. Omnipotent Government p. 147 Menger, Carl
Nazism conquered Germany because it never encountered any adequate intellectual resistance. Omnipotent Government p. 222 Nazism
No international authority can preserve peace if economic wars continue. In our age of international division of labor, free trade is the prerequisite for any amicable arrangement between nations. And free trade is impossible in a world of etatism. Omnipotent Government p. 6 International Law
No proletarian contributed anything to the construction of antiliberal teachings. At the root of the genealogical tree of modern socialism we meet the name of the depraved scion of one of the most eminent aristocratic families of royal France. Omnipotent Government p. 118 Classes
No ruler who lacks the gift of persuasion can stay in office long; it is the indispensable condition of government. It would be an idle illusion to assume that any government, no matter how good, could lastingly do without public consent. Omnipotent Government p. 119 Public Opinion
Nobody ever recommended a dictatorship aiming at ends other than those he himself approved. He who advocates dictatorship always advocates the unrestricted rule of his own will. Omnipotent Government p. 242 Dictatorship
Not every apparatus of compulsion and coercion is called a state. Only one which is powerful enough to maintain its existence, for some time at least, by its own force is commonly called a state. A gang of robbers, which because of the comparative weakness of its forces has no prospect of successfully resisting for any length of time the forces of another organization, is not entitled to be called a state. The state will either smash or tolerate a gang. In the first case the gang is not a state because its independence lasts for a short time only; in the second case it is not a state because it does not stand on its own might. Omnipotent Government p. 46 State
Nothing could by more mistaken than the now fashionable attempt to apply the methods and concepts of the natural sciences to the solution of social problems. Omnipotent Government p. 120 Natural Sciences
Nothing links men more closely together than a community of language, and nothing segregates them more effectively than a difference of language. Omnipotent Government p. 123 Language
Now the greatest accomplishment of reason is the discovery of the advantages of social cooperation, and its corollary, the division of labor. Omnipotent Government p. 121 Division of Labor
Only to bureaucrats can the idea occur that establishing new offices, promulgating new decrees, and increasing the number of government employees alone can be described as positive and beneficial measures. Omnipotent Government p. x Bureaucracy
Patriotism is the zeal for ones own nations welfare, flowering, and freedom. Omnipotent Government p. 2 Patriotism
People favor discrimination and privileges because they do not realize that they themselves are consumers and as such must foot the bill. In the case of protectionism, for example, they believe that only the foreigners against whom the import duties discriminate are hurt. It is true the foreigners are hurt, but not they alone: the consumers who must pay higher prices suffer with them. Omnipotent Government p. 183 Protectionism
Polylogism is not a philosophy or an epistemological theory. It is an attitude of narrow-minded fanatics, who cannot imagine that anybody could be more reasonable or more clever than they themselves. Nor is polylogism scientific. It is rather the replacement of reasoning and science by superstitions. It is the characteristic mentality of an age of chaos. Omnipotent Government p. 147 Logic
Protestantism is no more a safeguard of freedom than Catholicism. The ideal of liberalism is the complete separation of church and state, and tolerance--without any regard to differences among the churches. Omnipotent Government p. 30 Christianity
Rational and irrational always mean: reasonable or not from the point of view of the ends sought. There is no such thing as absolute rationality or irrationality. Omnipotent Government p. 113 Rational Action
Reason is the main resource of man in his struggle for survival. Omnipotent Government p. 121 Reason
Seen from the formalistic viewpoint of constitutional law, the United States and the Swiss Confederation may doubtless still be classified as federations, but in actual fact they are moving more and more toward centralization. Omnipotent Government p. 268 Federalism
Socialism and interventionism. Both have in common the goal of subordinating the individual unconditionally to the state. Omnipotent Government p. 44 Interventionism
Tacitus informs us that the German tribes of his day considered it clumsy and shameful to acquire with sweat what could be won by bloodshed. This is also the first moral principle of the Nazis. They despise individuals and nations eager to profit by serving other people; in their eyes robbery is the noblest way to make a living. Omnipotent Government p. 180 Nazism
The apparatus of compulsion and coercion is always operated by mortal men. Omnipotent Government p. 47 State
The characteristic feature of militarism is not the fact that a nation has a powerful army or navy. It is the paramount role assigned to the army within the political structure. Even in peacetime the army is supreme; it is the predominant factor in political life. The subjects must obey the government as soldiers must obey their superiors. Within a militarist community there is no freedom; there are only obedience and discipline. Omnipotent Government p. 35 Military
The closed-door policy is one of the root causes of our wars. Omnipotent Government p. 263 Immigration
The dangerous fact is that while government is hampered in endeavors to make a commodity cheaper by intervention, it certainly has the power to make it more expensive. Omnipotent Government p. 248 Price
The elite should be supreme by virtue of persuasion, not by the assistance of firing squads. Omnipotent Government p. 120 Classes
The enormous transfer of capital from Western Europe to the rest of the world was one of the outstanding events of the age of capitalism. It has developed natural resources in the remotest areas. It has raised the standard of living of peoples who from time immemorial had not achieved any improvement in their material conditions. Omnipotent Government p. 102 Foreign Capital
The essence of etatism is to take from one group in order to give to another. The more it can take the more it can give. It is to the interest of those whom the government wishes to favor that their state become as large as possible. Omnipotent Government p. 94 State
The essential teaching of liberalism is that social cooperation and the division of labor can be achieved only in a system of private ownership of the means of production, i.e., within a market society, or capitalism. All the other principles of liberalism — democracy, personal freedom of the individual, freedom of speech and of the press, religious tolerance, peace among the nations — are consequences of this basic postulate. They can be realized only within a society based on private property. Omnipotent Government p. 48 Private Property
The foreign critics condemn the Nazi system as capitalist. . . . But this is one charge against the Nazis that is unfounded. Omnipotent Government p. 225 Nazism
The four peace treaties of Versailles, Saint Germain, Trianon, and Sèvres together form the most clumsy diplomatic settlement ever carried out. They will be remembered as outstanding examples of political failure. Omnipotent Government p. 211 Treaty of Versailles
The further a nation goes on the road toward public control of business, the more it is forced to withdraw from the international division of labor. Omnipotent Government p. 281 Nationalism
The government embarked upon a vast scheme for restricting output, raising prices, and subsidizing the farmers. In interfering for the special benefit of the submarginal farmer it did so to the disadvantage of everyone consuming food and cotton and to the disadvantage of the taxpayer. Omnipotent Government p. 249 New Deal
The inflation had pauperized the middle classes. The victims joined Hitler. But they did not do so because they had suffered but because they believed that Nazism would relieve them. That a man suffers from bad digestion does not explain why he consults a quack. He consults the quack because he thinks that the man will cure him. If he had other opinions, he would consult a doctor. That there was economic distress in Germany does not account for Nazism's success. Omnipotent Government p. 219 Nazism
The initiative for the great colonial projects came not from finance and business but from the governments. Omnipotent Government p. 99 Colonialism
The main excellence of the liberal scheme of social, economic, and political organization is precisely this — that it makes the peaceful cooperation of nations possible. Omnipotent Government p. 91 Classical Liberalism
The main point in the propaganda of Nazism between 1919 and 1933 was: World Jewry and Western capitalism have caused your misery; we will fight these foes, thus rendering you more prosperous. Omnipotent Government p. 115 Nazism
The marvelous achievements of the British administration in India were overshadowed by the vain arrogance and stupid race pride of the white man. Omnipotent Government p. 98 Colonialism
The Marxians love of democratic institutions was a stratagem only, a pious fraud for the deception of the masses. Within a socialist community there is no room left for freedom. Omnipotent Government pp. 51-52 Marxism
The nationalists of all countries have succeeded in convincing their followers that only the policies they recommend are really advantageous to the well-being of the whole nation and of all its honest citizens. Omnipotent Government p. 115 Nationalism
The nations of Western Europe brought forth the political and institutional conditions for safeguarding saving and investment on a broader scale, and thus provided the entrepreneurs with the capital needed. Omnipotent Government p. 101 Western Civilization
The Nazis have an ally in every town or village where there is a man eager to get rid of a Jewish competitor. The secret weapon of Hitler is the anti-Jewish inclinations of many millions of shopkeepers and grocers, of doctors and lawyers, professors and writers. Omnipotent Government p. 192 Anti-Semitism
The only means to lasting peace is to remove the root causes of war. Omnipotent Government p. 6 War and Peace
The poems, plays, and other writings of Frederick Schiller are from beginning to end a hymn to liberty. Every word written by Schiller was a blow to the old political system of Germany; his works were fervently greeted by nearly all Germans who read books or frequented the theater. Omnipotent Government p. 19 Schiller, Frederick
The private life of a modern entrepreneur or executive differs much less from that of his employees than, centuries ago, the life of a feudal landlord differed from that of his serfs. Omnipotent Government p. 117 Rich and Poor
The Russian pattern of socialism is purely bureaucratic. All economic enterprises are departments of the government, like the administration of the army or the postal system. Every plant, shop, or farm stands in the same relation to the superior central organization as does a post office to the office of the postmaster general. Omnipotent Government p. 56 Russia
The salesman thanks the customer for patronizing his shop and asks him to come again. But the socialists say: Be grateful to Hitler, render thanks to Stalin; be nice and submissive, then the great man will be kind to you later too. Omnipotent Government p. 53 Capitalism vs. Socialism
The state is a human institution, not a superhuman being. He who says state means coercion and compulsion. He who says: There should be a law concerning this matter, means: The armed men of the government should force people to do what they do not want to do, or not to do what they like. He who says: This law should be better enforced, means: the police should force people to obey this law. He who says: The state is God, deifies arms and prisons. Omnipotent Government p. 47 State
The total complex of the rules according to which those at the helm employ compulsion and coercion is called law. Yet the characteristic feature of the state is not these rules, as such, but the application or threat of violence. Omnipotent Government p. 46 Law
The Treaty of Versailles was not unfair to Germany and it did not plunge the German people into misery. Omnipotent Government p. 211 Treaty of Versailles
The worship of the state is the worship of force. There is no more dangerous menace to civilization than a government of incompetent, corrupt, or vile men. The worst evils which mankind ever had to endure were inflicted by bad governments. Omnipotent Government p. 47 State
There can be neither effective political cooperation nor solidarity and collective security among nations fighting each other in the economic sphere. Omnipotent Government p. 265 Sanctions
There can be no freedom in art and literature where the government determines who shall create them. Omnipotent Government p. 52 Arts
There have always been men who voluntarily renounced many pleasures and satisfactions in order to do what they considered right and moral. Men have preferred martyrdom to the renunciation of what they believed to be true. They have chosen poverty and exile because they wanted to be free in the search for truth and wisdom. All that is noblest in the progress of civilization, welfare, and enlightenment has been the achievement of such men, who braved every danger and defied the tyranny of powerful kings and fanatical masses. Omnipotent Government p. 114 Martyrdom
There is but one remedy for lasting unemployment of great masses; the abandonment of the policy of raising wage rates by government decree or by the application or the threat of violence. Omnipotent Government p. 65 Unemployment
There was no secrecy about the ambitions of the Nazis. The Nazis themselves advertised them in innumerable books and pamphlets, and in every issue of their numerous newspapers and periodicals. Nobody can reproach the Nazis with having concocted their plots clandestinely. Omnipotent Government p. 12 Nazism
This is socialism in the outward guise of capitalism. Omnipotent Government p. 56 Nazism
True, governments can reduce the rate of interest in the short run. They can issue additional paper money. They can open the way to credit expansion by the banks. They can thus create an artificial boom and the appearance of prosperity. But such a boom is bound to collapse soon or late and to bring about a depression. Omnipotent Government p. 251 Business Cycles
Virtually all the Christian churches and sects have espoused the principles of socialism and interventionism. Omnipotent Government p. 120 Christianity
We can speak to each other only because we can appeal to something common to all of us, namely, the logical structure of reason. Omnipotent Government p. 143 Logic
We must see conditions as they really are, not as we want them to be. Omnipotent Government p. 259 Reality
Western Europe developed the system of obligatory public education. It came to Eastern Europe as an achievement of Western civilization. But in the linguistically mixed territories it turned into a dreadful weapon in the hands of governments. Omnipotent Government pp. 82-83 Education
Whoever wants lastingly to establish good government must start by trying to persuade his fellow citizens and offering them sound ideologies. . . . There is no hope left for a civilization when the masses favor harmful policies. Omnipotent Government p. 120 Good Government
Within a world of free trade and democracy there are no incentives for war and conquest. Omnipotent Government p. 3 War and Peace
Within the market society each serves all his fellow citizens and each is served by them. It is a system of mutual exchange of services and commodities, a mutual giving and receiving. Omnipotent Government p. 49 Market
Yet it is clear that both systems, the German and the Russian, must be considered from an economic point of view as socialist. Omnipotent Government p. 178 Nazism
Can anyone doubt that the warring people of Europe would have tired of the conflict much sooner, if their governments had clearly, candidly, and promptly, presented them with the bill for military expenses? On the Manipulation of Money and Credit p. 38 Deficits
If the practice persists of covering government deficits with the issue of notes, then the day will come without fail, sooner or later, when the monetary systems of those nations pursuing this course will break down completely. The purchasing power of the monetary unit will decline more and more, until finally it disappears completely. On the Manipulation of Money and Credit p. 5 Deficits
In a given economic situation, the opportunities for production, which may actually be carried out, are limited by the supply of capital goods available. On the Manipulation of Money and Credit p. 125 Capital
In the feudal society, men became rich by war and conquest and through the largess of the sovereign ruler. Men became poor if they were defeated in battle or if they fell from the monarchs good graces. In the capitalistic society, men become richdirectly as the producer of consumers goods. On the Manipulation of Money and Credit pp. 177-78 Class Mobility
Inflation can be pursued only so long as the public still does not believe it will continue. Once the people generally realize that the inflation will be continued on and on and that the value of the monetary unit will decline more and more, then the fate of the money is sealed. Only the belief, that the inflation will come to a stop, maintains the value of the notes. On the Manipulation of Money and Credit p. 16 Inflation
Inflationism, however, is not an isolated phenomenon. It is only one piece in the total framework of politico-economic and socio-philosophical ideas of our time. Just as the sound money policy of gold standard advocates went hand in hand with liberalism, free trade, capitalism and peace, so is inflationism part and parcel of imperialism, militarism, protectionism, statism and socialism. On the Manipulation of Money and Credit p. 48 Inflation
It is always an inflationist policy, not economic conditions, which bring about the monetary depreciation. The evil is philosophical in character. On the Manipulation of Money and Credit p. 48 Deficits
It is characteristic of current political thinking to welcome every suggestion which aims at enlarging the influence of government. On the Manipulation of Money and Credit p. 107 State
It is inherent in the nature of the capitalistic economy that, in the final analysis, the employment of the factors of production is aimed only toward serving the wishes of consumers. On the Manipulation of Money and Credit p. 176 Capitalism
Like other factors of production, labor is also valued according to its usefulness in satisfying human wants. On the Manipulation of Money and Credit p. 177 Wage Rates
Production is not an end in itself. Its purpose is to serve consumption. On the Manipulation of Money and Credit p. 178 Production
The capitalistic social order, therefore, is an economic democracy in the strictest sense of the word. In the last analysis, all decisions are dependent on the will of the people as consumers. Thus, whenever there is a conflict between the consumers views and those of the business managers, market pressures assure that the views of the consumers win out eventually. On the Manipulation of Money and Credit p. 178 Capitalism
The idea that changes in the purchasing power of money may be measured is scientifically untenable. On the Manipulation of Money and Credit p. 88 Statistics
The superiority of the gold standard consists in the fact that the value of gold develops independent of political actions. On the Manipulation of Money and Credit p. 90 Gold Standard
The ultimate cause, therefore, of the phenomenon of wave after wave of economic ups and downs is ideological in character. The cycles will not disappear so long as people believe that the rate of interest may be reduced, not through the accumulation of capital, but by banking policy. On the Manipulation of Money and Credit p. 139 Business Cycles
The valuation of a monetary unit depends not on the wealth of a country, but rather on the relationship between the quantity of, and demand for, money. Thus, even the richest country can have a bad currency and the poorest a good one. On the Manipulation of Money and Credit p. 21 Exchange
Truth is not the halfway point between two untruths. On the Manipulation of Money and Credit p. 88 Truth
Workers and consumers are, of course, identical. On the Manipulation of Money and Credit p. 179 Workers
Credit expansion can bring about a temporary boom. But such a fictitious prosperity must end in a general depression of trade, a slump. Planned Chaos p. 21 Business Cycles
Freedom and liberty always mean freedom from police interference. Planned Chaos p. 64 Police Power
Government spending cannot create additional jobs. If the government provides the funds required by taxing the citizens or by borrowing from the public, it abolishes on the one hand as many jobs as it creates on the other. Planned Chaos pp. 20-21 Unemployment
He who proclaims the godliness of the State and the infallibility of its priests, the bureaucrats, is considered as an impartial student of the social sciences. Planned Chaos p. 16 State
If history could prove and teach us anything, it would be that private ownership of the means of production is a necessary requisite of civilization and material well-being. . . . Only nations committed to the principle of private property have risen above penury and produced science, art and literature. Planned Chaos p. 81 Private Property
In spite of the anti-capitalistic policies of all governments and of almost all political parties, the capitalist mode of production is still fulfilling its social function in supplying the consumers with more, better and cheaper goods. Planned Chaos p. 15 Capitalism
It belongs to the very essence of a society based on private ownership of the means of production that every man may work and dispose of his earnings where he thinks best. Planned Chaos p. 81 Private Property
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
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. 63-64 Rule of Law
No social cooperation under the division of labor is possible when some people or unions of people are granted the right to prevent by violence and the threat of violence other people from working. Planned Chaos p. 27 Unions
Not mythical material productive forces, but reason and ideas determine the course of human affairs. What is needed to stop the trend toward socialism and despotism is common-sense and moral courage. Planned Chaos p. 90 Socialism
Not offices and bureaucrats, but big business deserves credit for the fact that most of the families in the United States own a motorcar and a radio set. Planned Chaos p. 15 Big Business
Not the Russian armies, but the communist ideologies threaten the West. Planned Chaos p. 50 Russia
Science is competent to establish what is. It can never dictate what ought to be. Planned Chaos p. 30 Science
The characteristic mark of this age of dictators, wars and revolutions is its anticapitalistic bias. Most governments and political parties are eager to restrict the sphere of private initiative and free enterprise. Planned Chaos p. 15 Politics
The consumers suffer when the laws of the country prevent the most efficient entrepreneurs from expanding the sphere of their activities. What made some enterprises develop into big business was precisely their success in filling best the demand of the masses. Planned Chaos p. 22 Anti-Trust Laws
The increase in per capita consumption [material well-being] in America as compared with the conditions a quarter of a century ago is not an achievement of laws and executive orders. It is an accomplishment of businessmen who enlarged the size of their factories or built new ones. Planned Chaos p. 15 Material Well-Being
The intellectual leaders of the peoples have produced and propagated the fallacies which are on the point of destroying liberty and Western civilization. Planned Chaos p. 90 Intellectuals
The issue is always the same: the government or the market. There is no third solution. Planned Chaos p. 28 Capitalism vs. Socialism
The market economy safeguards peaceful economic cooperation because it does not use force upon the economic plans of the citizens. If one master plan is to be substituted for the plans of each citizen, endless fighting must emerge. Planned Chaos p. 30 Free Market
The market is a democracy in which every penny gives a right to vote. Planned Chaos pp. 25-26 Free Market
The mass slaughters perpetrated in the Nazi horror camps are too horrible to be adequately described by words. But they were the logical and consistent application of doctrines and policies parading as applied science and approved by some men who in a sector of the natural sciences have displayed acumen and technical skill in laboratory research. Planned Chaos p. 79 Nazism
The masses favor socialism because they trust the socialist propaganda of the intellectuals. The intellectuals, not the populace, are molding public opinion. Planned Chaos p. 90 Public Opinion
The planner is a potential dictator who wants to deprive all other people of the power to plan and act according to their own plans. He aims at one thing only: the exclusive absolute preeminence of his own plan. Planned Chaos p. 29 Social Planning
The real significance of the Lenin revolution is to be seen in the fact that it was the bursting forth of the principle of unrestricted violence and oppression. It was the negation of all the political ideals that had for three thousand years guided the evolution of Western civilization. Planned Chaos p. 63 Russian Revolution
The truth is that most people lack the intellectual ability and courage to resist a popular movement, however pernicious and ill-considered. Planned Chaos p. 88 Public Opinion
A dictum of Lord Keynes: In the long run we are all dead. I do not question the truth of this statement; I even consider it as the only correct declaration of the neo-British Cambridge school. Planning for Freedom p. 7 Keynes, John Maynard
A man who is forced to provide of his own account for his old age must save a part of his income or take out an insurance policy... Such a man is more likely to get an idea of the economic problems of his country than a man whom a pension scheme seemingly relieves of all worries. Planning for Freedom p. 92 Social Security
A nation cannot prosper if its members are not fully aware of the fact that what alone can improve their conditions is more and better production. And this can only be brought about by increased saving and capital accumulation. Planning for Freedom pp. 92-93 Material Well-Being
A policy of deficit spending saps the very foundation of all interpersonal relations and contracts. It frustrates all kinds of savings, social security benefits and pensions. Planning for Freedom p. 89 Deficits
After 15 million human beings had perished in the war, the foremost statesmen of the world were assembled to give mankind a new international order and lasting peace . . . and the British Empires financial expert was amused by the rustic style of the French Prime Ministers footwear. Planning for Freedom p. 56 Keynes, John Maynard
All that good government can do to improve the material well-being of the masses is to establish and to preserve an institutional setting in which there are no obstacles to the progressive accumulation of new capital and its utilization for the improvement of technical methods of production. Planning for Freedom p. 6 Good Government
As people think that they owe to unionism their high standard of living, they condone violence, coercion, and intimidation on the part of unionized labor and are indifferent to the curtailment of personal freedom inherent in the union-shop and closed-shop clauses. Planning for Freedom p. 153 Unions
Credit expansion is not a nostrum to make people happy. The boom it engenders must inevitably lead to a debacle and unhappiness. Planning for Freedom p. 189 Credit
Depression is the aftermath of credit expansion. Planning for Freedom p. 7 Money Supply
Entrance into the ranks of the entrepreneurs in a market society, not sabotaged by the interference of government or other agencies resorting to violence, is open to everybody. Planning for Freedom p. 117 Class Mobility
Estate taxes of the height they have already attained for the upper brackets are no longer to be qualified as taxes. They are measures of expropriation. Planning for Freedom p. 32 Taxes
Everybody is eager to charge for his services and accomplishments as much as the traffic can bear. In this regard there is no difference between the workers, whether unionized or not, the ministers and teachers on the one hand and the entrepreneurs on the other hand. Neither of them has the right to talk as if he were Francis dAssisi. Planning for Freedom p. 145 Workers
Exclusively preoccupied with wage rates and pensions, the unions boast of their Pyrrhic victories. The union members are not conscious of the fact that their fate is tied up with the flowering of their employers enterprises. Planning for Freedom p. 91 Unions
For what many people have admiringly called Keynes's brilliance of style and mastery of language were, in fact, cheap rhetorical tricks. Planning for Freedom p. 55 Keynes, John Maynard
Governments deliberately sabotaged it, and still go on sabotaging it. Planning for Freedom p. 185 Gold Standard
Great conflicts of ideas must be solved by straight and frank methods; they cannot be solved by artifices and makeshifts. Planning for Freedom p. 14 Ideas
If it were really possible to substitute credit expansion (cheap money) for the accumulation of capital goods by saving, there would not be any poverty in the world. Planning for Freedom p. 190 Money Supply
If one rejects laissez faire on account of mans fallibility and moral weakness, one must for the same reason also reject every kind of government action. Planning for Freedom p. 44 Capitalism vs. Socialism
If one rejects laissez faire on account of mans fallibility and moral weakness, one must for the same reason also reject every kind of government action. Planning for Freedom p. 44 Laissez Faire
If one rejects laissez faire on account of mans fallibility and moral weakness, one must for the same reasons also reject every kind of government action. Planning for Freedom p. 44 Human Frailty
If one wants to study the reasons for Europe's backwardness, it would be necessary to examine the manifold laws and regulations that prevented in Europe the establishment of an equivalent of the American drug store and crippled the evolution of chain stores, department stores, super markets and kindred outfits. Planning for Freedom p. 136 Europe
If the present tax rates had been in effect from the beginning of our century, many who are millionaires today would live under more modest circumstances. But all those new branches of industry which supply the masses with articles unheard of before would operate, if at all, on a much smaller scale, and their products would be beyond the reach of the common man. Planning for Freedom p. 16 Taxes
In nature there is nothing that could be called freedom. Nature is inexorable necessity. Planning for Freedom p. 215 Nature
In talking about equality and asking vehemently for its realization, nobody advocates a curtailment of his own present income. Planning for Freedom p. 137 Equality
Interest is the difference in the valuation of present goods and future goods; it is the discount in the valuation of future goods as against that of present goods. Planning for Freedom pp. 187-88 Interest Rate
Interventionism cannot be considered as an economic system destined to stay. It is a method for the transformation of capitalism into socialism by a series of successive steps. Planning for Freedom p. 28 Interventionism
It is not a lack of the know how that prevents foreign countries from fully adopting American methods of manufacturing, but the insufficiency of capital available. Planning for Freedom p. 197 Development
It is not true that human conditions must always improve, and that a relapse into very unsatisfactory modes of life, penury and barbarism is impossible. Planning for Freedom p. 177 Progress
It is not true that the economic backwardness of foreign countries is to be imputed to technological ignorance on the part of their peoples. Planning for Freedom p. 196 Development
It is precisely the necessity of making profits and avoiding losses that gives to the consumers a firm hold over the entrepreneurs and forces them to comply with the wishes of the people. Planning for Freedom p. 134 Profit and Loss
Keynes did not refute Says Law. He rejected it emotionally, but he did not advance a single tenable argument to invalidate its rationale. Planning for Freedom p. 70 Keynes, John Maynard
Keynes did not refute Says Law. He rejected it emotionally, but he did not advance a single tenable argument to invalidate its rationale. Planning for Freedom p. 70 Say's Law
Keynes did not teach us how to perform the miracle . . . of turning a stone into bread, but the not at all miraculous procedure of eating the seed corn. Planning for Freedom p. 71 Keynes, John Maynard
Laissez faire does not mean: let soulless mechanical forces operate. It means: let individuals choose how they want to cooperate in the social division of labor and let them determine what the entrepreneurs should produce. Planning for Freedom p. 45 Laissez Faire
Mass unemployment is not proof of the failure of capitalism, but the proof of the failure of traditional union methods. Planning for Freedom p. 13 Unemployment
Minimum wage rates, whether decreed and enforced by the government or by labor union pressure and violence, result in mass unemployment. Planning for Freedom p. 27 Wage Rates
Money is merely the commonly used medium of exchange; it plays only an intermediary role. . Planning for Freedom p. 66 Money
No one should expect that any logical argument or any experience could ever shake the almost religious fervor of those who believe in salvation through spending and credit expansion. Planning for Freedom p. 63 Credit
Nobody is called upon to determine what could make another man happier or less unhappy. Planning for Freedom p. 118 Happiness
Now nobody ever contended that one could produce without working. But neither is it possible to produce without capital goods, the previously produced factors of further production. Planning for Freedom p. 111 Capital
Of course, as a rule capitalists and entrepreneurs are not saints excelling in the virtue of self-denial. But neither are their critics saintly. Planning for Freedom p. 146 Businessmen
On a free labor market wage rates tend toward a height at which all employers ready to pay these rates can find all the men they need and all the workers ready to work for this rate can find jobs. There prevails a tendency toward full employment. Planning for Freedom p. 84 Unemployment
Profit is a product of the mind, of success in anticipating the future state of the market. It is a spiritual and intellectual phenomenon. Planning for Freedom p. 120 Profit and Loss
Profits and loss withdraw the material factors of production from the hands of the inefficient and convey them into the hands of the more efficient. Planning for Freedom p. 16 Profit and Loss
Say emerged victoriously from his polemics with Malthus and Sismondi. He proved his case, while adversaries could not prove theirs. Henceforth, during the whole rest of the nineteenth century, the acknowledgement of the truth contained in Says Law was the distinctive mark of an economist. Planning for Freedom p. 67 Say's Law
Seen from the point of view of the particular group interests of the bureaucrats, every measure that makes the governments payroll swell is progress. Planning for Freedom p. 48 Bureaucracy
Taxing profits is tantamount to taxing success. Planning for Freedom p. 121 Taxes
The American worker is badly mistaken when he believes that his high standard of living is due to his own excellence. Planning for Freedom p. 136 Workers
The better the tools are which the worker uses in his job, the more he can perform in an hour, the higher is, consequently, his remuneration. Planning for Freedom p. 151 Wage Rates
The buyers do not pay for the toil and trouble the worker took nor for the length of time he spent in working. They pay for the products. Planning for Freedom p. 151 Wage Rates
The comparatively greater prosperity of the United States is an outcome of the fact that the New Deal did not come in 1900 or 1910, but only in 1933. Planning for Freedom p. 136 New Deal
The elimination of profit, whatever methods may be resorted to for its execution, must transform society into a senseless jumble. It would create poverty for all. Planning for Freedom p. 149 Profit and Loss
The entrepreneurs . . . are not infallible and often blunder. But they are less liable to error, and blunder less than other people do. Planning for Freedom p. 114 Entrepreneurs
The epithet profiteer is the expression of an arbitrary judgment of value. There is no other standard available for the distinction between profiteering and earning fair profits than that provided by the censors personal envy and resentment. Planning for Freedom p. 128 Profiteers
The essence of Keynesianism is its complete failure to conceive the role that saving and capital accumulation play in the improvement of economic conditions. Planning for Freedom p. 207 Keynes, John Maynard
The gold standard alone makes the determination of moneys purchasing power independent of the ambitions and machinations of governments, of dictators, of political parties, and of pressure groups. Planning for Freedom p. 185 Gold Standard
The government and its chiefs do not have the powers of the mythical Santa Claus. They cannot spend except by taking out of the pockets of some people for the benefit of others. Planning for Freedom p. 187 Government
The height of the market rate of interest ultimately does not depend on the whims, fancies, and the pecuniary interests of the personnel operating the government apparatus of coercion and compulsion, the much-referred-to public sector of the economy. Planning for Freedom p. 188 Interest Rate
The height of wage rates is determined by the consumers appraisal of the value the workers labor adds to the value of the article available for sale. Planning for Freedom p. 190 Wage Rates
The idea that political freedom can be preserved in the absence of economic freedom, and vice versa, is an illusion. Political freedom is the corollary of economic freedom. Planning for Freedom p. 38 Freedom
The improvement of well-being brought about by capitalism made it possible for the common man to save and thus to become in a modest way himself a capitalist. Planning for Freedom p. 160 Workers
The market steers the capitalistic economy. It directs each individuals activities into those channels in which he best serves the wants of his fellow-men. The market alone puts the whole social system of private ownership of the means of production and free enterprise in order and provides it with sense and meaning. Planning for Freedom p. 72 Free Market
The Marxian dogma according to which socialism is bound to come with the inexorability of a law of nature is just an arbitrary surmise devoid of any proof. Planning for Freedom p. 33 Marxism
The middle-of-the-road policy is not an economic system that can last. It is a method for the realization of socialism by installments. Planning for Freedom pp. 32-33 Interventionism
The only means to increase a nations welfare is to increase and to improve the output of products. Planning for Freedom p. 6 Material Well-Being
The only means to raise wage rates permanently for all those eager to earn wages is to raise the productivity of labor by increasing the per-head quota of capital invested and improving the methods of production. Planning for Freedom p. 6 Wage Rates
The preservation and the further improvement of what is called the American way of life and an American standard of living depends on the maintenance and the further increase of the capital invested in American business. Planning for Freedom p. 92 Material Well-Being
The professors did not instill a scientific spirit into the bureaus. But the bureaus gave them the mentality of authoritarianism. They distrust the populace and consider the State (with a capital S) as the God-sent guardian of the wretched underlings. Planning for Freedom p. 167 Intellectuals
The pseudo-liberals monopolize the teaching jobs at many universities. Only men who agree with them are appointed as teachers and instructors of the social sciences, and only textbooks supporting their ideas are used. Planning for Freedom p. 162 Education
The result of the governments and the unions meddling with the height of wage rates cannot be anything else than an incessant increase in the number of unemployed. Planning for Freedom p. 192 Unemployment
The riches of successful entrepreneurs is not the cause of anybody's 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. 135 Wealth
The standard of living of the common man is highest in those countries which have the greatest number of wealthy entrepreneurs. Planning for Freedom p. 135 Standard of Living
The task of the entrepreneur is to select from the multitude of technologically feasible projects those which will satisfy the most urgent of the not yet satisfied needs of the public. Planning for Freedom p. 117 Entrepreneurs
The truth is that the characteristic feature of capitalism was and is mass production for the needs of the masses. Planning for Freedom p. 170 Production
The way in which the history of the last two hundred years has been treated is really a scandal. Planning for Freedom p. 170 History
The Welfare State is merely a method for transforming the market economy step by step into socialism. Planning for Freedom p. 219 Welfare
The worst method to fight communism is that of the Marshall Plan…. The American subsidies make it possible for their governments to conceal partially the disastrous effects of the various socialist measures they have adopted. Planning for Freedom pp. 141-42 Foreign Aid
There is but one means to improve the material well-being of men, viz., to accelerate the increase in capital accumulated as against population. Planning for Freedom p. 143 Material Well-Being
There prevails on a free labor market a tendency toward full employment. Planning for Freedom p. 153 Unemployment
There would not be any profits but for the eagerness of the public to acquire the merchandise offered for sale by the successful entrepreneur, but the same people who scramble for these articles vilify the businessman and call his profit ill-got. Planning for Freedom p. 122 Profit and Loss
They [Keynesians] blithely assume that the state has unlimited means at its disposal. Planning for Freedom p. 90 Keynes, John Maynard
They and their members and officials have acquired the power and the right to commit wrongs to person and property, to deprive individuals of the means of earning a livelihood, and to commit many other acts which no one can do with impunity. Planning for Freedom p. 191 Unions
This dilettantish inability to comprehend the essential issues of the conduct of production affairs is not only manifested in the writings of Marx and Engels. It permeates no less the contributions of contemporary pseudo-economics. Planning for Freedom p. 147 Economics
Truth has its own way. It works and produces effects even if party programs and textbooks refuse to acknowledge it as truth. Planning for Freedom p. 11 Truth
Tyranny is the political corollary of socialism, as representative government is the political corollary of the market economy. Planning for Freedom p. 218 Capitalism vs. Socialism
Ultimately the granting of pensions amounts to a restriction of the wage earners freedom to use his total income according to his own designs. Planning for Freedom p. 86 Social Security
Under socialism production is entirely directed by the orders of the central board of production management. The whole nation is an industrial army . . . and each citizen is bound to obey his superiors orders. Planning for Freedom p. 72 Socialism
What he really did was to write an apology for the prevailing policies of governments. Planning for Freedom p. 69 Keynes, John Maynard
What is called the American way of life is the result of the fact that the United States has put fewer obstacles in the way of saving and capital accumulation than in other nations. Planning for Freedom p. 152 Development
What makes a firm big is its success in best filling the demands of the buyers. If the bigger enterprise did not better serve the people than a smaller one, it would long since have been reduced to smallness. Planning for Freedom p. 134 Big Business
What matters is not whether a doctrine is new, but whether it is sound. Planning for Freedom p. 53 Science
What people today call inflation is not inflation, i.e., the increase in the quantity of money and money substitutes, but the general rise in commodity prices and wage rates which is the inevitable consequence of inflation. Planning for Freedom p. 79 Inflation
What the doctrine of balancing budgets over a period of many years really means is this: As long as our own party is in office, we will enhance our popularity by reckless spending. Planning for Freedom p. 87 Deficits
What the workers must learn is that the only reason why wage rates are higher in the United States is that the per head quota of capital invested is higher. Planning for Freedom p. 92 Capital
With all the regard due to the sublime self-effacement of saints, we cannot help stating the fact that the world would be in a rather desolate condition if it were peopled exclusively by men not interested in the pursuit of material well-being. Planning for Freedom p. 146 Self-Interest
With regard to economic goods there can be only relative overproduction. . . . The attempts to explain the general depression of trade by referring to an allegedly general overproduction are therefore fallacious. Planning for Freedom p. 65 Say's Law
With regard to economic goods there can never be absolute overproduction. Planning for Freedom p. 65 Say's Law
Abstract thought is independent of the wishes which move the thinker and of the aims for which he strives. Socialism p. 317 Reason
All almsgiving inevitably tends to pauperize the recipient. Socialism p. 422 Welfare
All attempts to coerce the living will of human beings into the service of something they do not want must fail. Socialism p. 263 Coercion
All economic activity is based upon an uncertain future. It is therefore bound up with risk. It is essentially speculation. Socialism p. 181 Risk
All human action, so far as it is rational, appears as the exchange of one condition for another... This is the essence of economic activity--the carrying out of acts of exchange. Socialism p. 97 Exchange
All rational action is in the first place individual action. Only the individual thinks. Only the individual reasons. Only the individual acts. Socialism p. 97 Action
An 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. 339 Wealth
Aprs nous le deluge (After us, the deluge) is an old maxim of government. Socialism p. 179 State
As the idea of contract enters the Law of Marriage, it breaks the rule of the male, and makes the wife a partner with equal rights. From a one-sided relationship resting on force, marriage thus becomes a mutual agreement. Socialism p. 82 Marriage
By weakening or completely destroying the will to be well and able to work, social insurance creates illness and inability to work; it produces the habit of complaining... it is an institution which tends to encourage disease, not to say accidents, and to intensify considerably the physical and psychic results of accidents and illnesses. As a social institution it makes a people sick bodily and mentally or at least helps to multiply, lengthen, and intensify disease. Socialism p. 432 Social Security
Capital does not reproduce itself. Socialism p. 177 Capital
Christian Socialism is none the less Socialism. Socialism p. 382 Christianity
Christianity has acquiesced in slavery and polygamy, has practically canonized war, has, in the name of the Lord, burnt heretics and devastated countries. Socialism pp. 397-98 Christianity
Civilization is a product of leisure and the peace of mind that only the division of labour can make possible. Socialism p. 271 Civilization
Civilization is a work of peaceful co-operation. Socialism p. 291 Civilization
Class consciousness, created by the ideology of the class conflict, is the essence of the struggle, and not vice versa. The idea created the class, not the class the idea. Socialism p. 306 Conflict
Economic calculation can only take place by means of money prices established in the market for production goods in a society resting on private property in the means of production. Socialism p. 123 Economic Calculation
Every collectivist assumes a different source for the collective will, according to his own political, religious and national convictions. Socialism p. 56 Groups
Every expansion of the personal division of labor brings advantages to all who take part in it. Socialism p. 261 Division of Labor
Every step that leads away from private ownership of the means of production and the use of money is a step away from rational economic activity. Socialism p. 102 Interventionism
Everything brought forward in favor of Socialism during the last hundred years, in thousands of writings and speeches, all the blood which has been spilt by the supporters of Socialism, cannot make socialism workable. Socialism p. 117 Socialism
Experience shows that nothing is operated with less economy and with more waste of labor and material of every kind than public services and undertakings. Private enterprise on the other hand naturally induces the owner to work with the greatest economy in his own interest. Socialism p. 160 Civil Service
Figures alone prove or disprove nothing. Only the conclusions drawn from the collected material can do this. And these are theoretical. Socialism p. 325 Statistics
For it is an essential difference between capitalist and socialist production that under capitalism men provide for themselves, while under Socialism they are provided for. Socialism p. 405 Capitalism vs. Socialism
For Liberalism has never pretended to be more than a philosophy of earthly life. What it teaches is concerned only with earthly action and desistance from action. It has never claimed to exhaust the Last or Greatest Secret of Man. Socialism p. 37 Classical Liberalism
For society is nothing but collaboration. Socialism p. 281 Civilization
Fortunes cannot grow; someone has to increase them. Socialism p. 340 Wealth
Fortunes invested in capital do not, as the naive economic philosophy of the common man imagines, represent eternal sources of income. Socialism p. 338 Wealth
Friedrich Wilhelm IV and Wilhelm II were quite convinced that God had invested them with special authority. . . . Many contemporaries believed alike and were ready to spend their last drop of blood in the service of the king sent to them by God. Socialism p. 56 God
Genius does not allow itself to be hindered by any consideration for the comfort of its fellows even of those closest to it. Socialism p. 85 Genius
Genius does not allow itself to be hindered by any consideration for the comfort of its fellows even of those closest to it. Socialism pp. 85-86 Genius
History is a struggle between two principles, the peaceful principle, which advances the development of trade, and the militarist-imperialist principle, which interprets human society not as a friendly division of labour but as the forcible repression of some of its members by others. Socialism p. 268 Free Trade
If a man drinks wine and not water I cannot say he is acting irrationally. At most I can say that in his place I would not do so. But his pursuit of happiness is his own business, not mine. Socialism p. 405 Happiness
If the diligence of modern industry were replaced by the contemplative life of the past, unnumbered millions would be doomed to death by starvation. Socialism p. 396 Retreatism
If the State takes the power of disposal from the owner piecemeal, by extending its influence over production... then the owner is left at last with nothing except the empty name of ownership, and property has passed into the hands of the State. Socialism p. 45 Interventionism
If the will to be well and efficient is weakened, illness and inability to work is caused. Socialism pp. 431-32 Welfare
If trade were completely free, production would only take place under the most suitable conditions. Socialism p. 201 Free Trade
If we do not wish to see life become extinct we should not call the source from which it is renewed a sink of vice. Socialism p. 88 Sex
Immigrants soon find their place in urban life, they soon adopt, externally, town manners and opinions, but for a long time they remain foreign to civic thought. One cannot make a social philosophy one's own as easily as a new costume. Socialism p. 38 Immigration
In capitalist enterprise there is no secure income and no security of wealth. Socialism p. 340 Wealth
In his life and his reading he remained so far removed from the facts of economic life that he was as great a stranger to the work of the bourgeoisie as a Hottentot to the work of an explorer taking geographical measurements. Socialism p. 189 Lenin, Vladimir
In its most fundamental contentions Marxism has never risen above the level of a doctrine for the soap box orator. Socialism p. 305 Marxism
In so far as they think consistently, moralists who condemn luxury must recommend the comparatively desireless existence of the wild life roaming in the woods as the ultimate ideal of civilized life. Socialism p. 177 Luxuries
In the capitalist society there is a place and bread for all. Its ability to expand provides sustenance for every worker. Permanent unemployment is not a feature of free capitalism. Socialism p. 286 Capitalism
In the modern contractual marriage, which takes place at the desire of husband and wife, marriage and love are united. Socialism p. 83 Marriage
In the society based on division of labour and co-operation, the interests of all members are in harmony, and it follows from this basic fact of social life that ultimately action in the interests of myself and action in the interest of others do not conflict, since the interests of individuals come together in the end. Socialism p. 357 Self-Interest
It is an illusion to believe that one can maintain productivity and reduce the division of labor. Socialism p. 271 Productivity
It is indeed one of the principal drawbacks of every kind of interventionism that it is so difficult to reverse the process. Socialism p. 440 Interventionism
It is merely a metaphor to call competition competitive war, or simply, war. The function of battle is destruction; of competition, construction. Socialism p. 285 Competition
It is not capitalism which is responsible for the evils of permanent mass unemployment, but the policy which paralyses its working. Socialism p. 441 Unemployment
It is not exclusively to the interest of woman that she should succeed in this struggle; to contrast the interests of men and women, as extreme feminists try to do, is very foolish. All mankind would suffer if woman should fail to develop her ego and be unable to unite with man as equal, freeborn companions and comrades. Socialism pp. 90-91 Feminism
It 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. 394 Rich and Poor
It 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. 394 Wealth
It was writers of this class who introduced as literary figures the bloodsucking capitalist entrepreneur and the noble proletarian. To them the rich man is in the wrong because he is rich, and the poor in the right because he is poor. Socialism p. 420 Romanticism
Liberalism and capitalism address themselves to the cool, well-balanced mind. They proceed by strict logic, eliminating any appeal to the emotions. Socialism, on the contrary, works on the emotions, tries to violate logical considerations by rousing a sense of personal interest and to stifle the voice of reason by awakening primitive instincts. Socialism p. 460 Capitalism vs. Socialism
Liberalism champions private property in the means of production because it expects a higher standard of living from such an economic organization, not because it wishes to help the owners. Socialism p. 46 Classical Liberalism
Luxury is the roadmaker of progress. Socialism p. 177 Luxuries
Man is inconceivable as an isolated being, for humanity exists only as a social phenomenon and mankind transcended the stage of animality only in so far as co-operation evolved the social relationships between the individuals. Socialism p. 259 Society
Man is not evil merely because he wants to enjoy pleasure and avoid pain in other words, to live. Renunciation, abnegation, and self-sacrifice are not good in themselves. Socialism p. 409 Happiness
Mankind does not drink alcohol because there are breweries, distilleries, and vineyards; men brew beer, distill spirits, and grow grapes because of the demand for alcoholic drinks. Socialism p. 403 Prohibition
Marx and Engels never tried to refute their opponents with argument. They insulted, ridiculed, derided, slandered, and traduced them, and in the use of these methods their followers are not less expert. Their polemic is directed never against the argument of the opponent, but always against his person. Socialism p. 19 Marxism
Modern man has always before his eyes the possibility of growing rich by work and enterprise. In the more rigid economy of the past this was less easy. People were rich or poor from birth, and remained so through their lives unless they were given a change of position through some unforeseen accident. Socialism p. 395 Social Mobility
Most cartels and trusts would never have been set up had not the governments created the necessary conditions by protectionist measures. Socialism p. 349 Monopolies
New generations grow up with clear eyes and open minds. And they will approach things from a disinterested, unprejudiced standpoint, they will weigh and examine, will think and act with forethought. Socialism p. 13 Youth
No censor, no emperor, no pope, has ever possessed the power to suppress intellectual freedom which would be possessed by a socialist community. Socialism p. 169 Socialism
No one can find a safe way out for himself if society is sweeping towards destruction. Therefore everyone, in his own interests, must thrust himself vigorously into the intellectual battle. None can stand aside with unconcern; the interests of everyone hang on the result. Socialism pp. 468-69 Ideas
No one shall be idle if I have to work; no one shall be rich if I am poor. Thus we see, again and again, that resentment lies behind all socialist ideas. Socialism p. 394 Socialism
Nothing is more calculated to make a demagogue popular than a constantly reiterated demand for heavy taxes on the rich. Capital levies and high income taxes on the larger incomes are extraordinarily popular with the masses, who do not have to pay them. Socialism p. 447 Taxes
One of the fundamental facts of all social life, which all reformers must take into account, is that men have their own thoughts and their own wills. Socialism p. 183 Reality
Only ideas can overcome ideas. Socialism p. 460 Ideas
Only in the case of primitive peoples does war lead to the selection of the stronger and more gifted, and that among civilized peoples it leads to a deterioration of the race by unfavorable selection. Socialism p. 290 War and Peace
Originally confined to the narrowest circles of people, to immediate neighbors, the division of labor gradually becomes more general until eventually it includes all mankind. Socialism p. 279 Division of Labor
Ownership turns the fighting man into the economic man. Only the exclusion of private property can maintain the military character of the State. Only the warrior, who has no other occupation apart from war than preparation for war, is always ready for war. Men occupied in affairs may wage wars of defense but not long wars of conquest. Socialism pp. 220-21 War and Peace
Permanent mass unemployment destroys the moral foundations of the social order. The young people, who, having finished their training for work, are forced to remain idle, are the ferment out of which the most radical political movements are formed. In their ranks the soldiers of the coming revolutions are recruited. Socialism p. 440 Unemployment
Private ownership in the means of production is the only necessary condition for the extensive development of the division of labor. The enslavement of the worker was not necessary to create it. Socialism p. 297 Slavery
Seldom does mercantile and industrial wealth maintain itself in one family for more than two or three generations. Socialism p. 338 Wealth
Several generations of economic policy which was nearly liberal have enormously increased the wealth of the world. Socialism p. 13 Classical Liberalism
Since its appearance the view that prostitution is a product of capitalism has gained ground enormously. And as, in addition, preachers still complain that the good old morals have decayed, and accuse modern culture of having led to loose living, everyone is convinced that all sexual wrongs represent a symptom of decadence peculiar to our age. Socialism p. 92 Prostitution
Since the third century Christianity has always served simultaneously those who supported the social order and those who wished to overthrow it. . . . It is the same today: Christianity fights both for and against Socialism. Socialism p. 378 Christianity
Slavery did not prepare the way for division of labor. On the contrary it blocked the way. Indeed modern industrial society, with its highly developed division of labor, could not begin to grow until slavery had been abolished. Socialism p. 297 Slavery
So far as Feminism seeks to adjust the legal position of woman to that of man, so far as it seeks to offer her legal and economic freedom to develop and act in accordance with her inclinations, desires, and economic circumstances so far it is nothing more than a branch of the great liberal movement, which advocates peaceful and free evolution. Socialism p. 87 Feminism
Socialism is the renunciation of rational economy. Socialism p. 105 Socialism
Socialism knows no freedom of choice in occupation. Everyone has to do what he is told to do and to go where he is sent. Socialism p. 165 Socialism
Socialism promises not only welfare — wealth for all — but universal happiness in love as well. This part of its program has been the source of much of its popularity. Socialism p. 74 Socialism
Socialism... is not the pioneer of a better and finer world, but the spoiler of what thousands of years of civilization have created. It does not build; it destroys. For destruction is the essence of it. It produces nothing, it only consumes what the social order based on private ownership in the means of production has created. Socialism p. 414 Socialism
Socialist society is a society of officials. The way of living prevailing in it, and the mode of thinking of its members, are determined by this fact. Socialism p. 165 Socialism
Society has arisen out of the works of peace; the essence of society is peacemaking. Peace and not war is the father of all things. Only economic action has created the wealth around us; labor, not the profession of arms, brings happiness. Peace builds, war destroys. Socialism p. 59 War and Peace
Society is best served when the means of production are in the possession of those who know how to use them best. Socialism p. 66 Production
Society is the product of thought and will. Socialism p. 258 Society
Speculation in the capitalist system performs a function which must be performed in any economic system however organized: it provides for the adjustment of supply and demand over time and space. Socialism p. 125 Speculation
Speculation is the link that binds isolated economic action to the economic activity of society as a whole. Socialism p. 182 Speculation
Speculation performs an economic service which cannot conceivably be eliminated from any economic system. Socialism p. 125 Speculation
State interference in economic life, which calls itself economic policy, has done nothing but destroy economic life. Prohibitions and regulations have by their general obstructive tendency fostered the growth of the spirit of wastefulness. Socialism p. 424 Interventionism
Strikes, sabotage, violent action and terrorism of every kind are not economic means. They are destructive means, designed to interrupt the movement of economic life. They are weapons of war which must inevitably lead to the destruction of society. Socialism p. 307 Unions
That everyone lives and wishes to live primarily for himself does not disturb social life but promotes it, for the higher fulfillment of the individuals life is possible only in and through society. Socialism p. 361 Self-Interest
That Liberalism aims at the protection of property and that it rejects war are two expressions of one and the same principle. Socialism p. 59 Classical Liberalism
That Socialism would be immediately practicable if an omnipotent and omniscient Deity were personally to descend to take in hand the government of human affairs is incontestable. Socialism p. 183 Socialism
The Bolshevists persistently tell us that religion is opium for the people. Marxism is indeed opium for those who might take to thinking and must therefore be weaned from it. Socialism p. 7 Marxism
The cornerstone of trade unionism is compulsory membership. Socialism p. 435 Unions
The creative spirit innovates necessarily. It must press forward. It must destroy the old and set the new in its place…. Progress cannot be organized. Socialism p. 167 Genius
The desire for an increase of wealth can be satisfied through exchange, which is the only method possible in a capitalist economy, or by violence and petition as in a militarist society, where the strong acquire by force, the weak by petitioning. Socialism p. 335 Capitalism vs. Socialism
The evolution which has led from the principle of violence to the contractual principle has based these relations on free choice in love. The woman may deny herself to anyone, she may demand fidelity and constancy from the man to whom she gives herself. Only in this way is the foundation laid for the development of woman's individuality. Socialism p. 91 Love
The eyes with which we look at the matter must not be those of the dreamer envisioning a lost paradise, who sees the future in a blaze of rose-colored light, and condemns all that goes on around us. Socialism p. 92 Social Planning
The first socialists were the intellectuals; they and not the masses are the backbone of Socialism. Socialism p. 461 Intellectuals
The great mass of people are incapable of realizing that in economic life nothing is permanent except change. They regard the existing state of affairs as eternal; as it has been so shall it always be. Socialism p. 188 Change
The greater productivity of work under the division of labor is a unifying influence. It leads men to regard each other as comrades in a joint struggle for welfare, rather than as competitors in a struggle for existence. It makes friends out of enemies, peace out of war, society out of individuals. Socialism p. 261 Division of Labor
The impracticability of Socialism is the result of intellectual, not moral, incapacity. . . . Even angels, if they were endowed only with human reason, could not form a socialistic community. Socialism p. 407 Socialism
The incomparable success of Marxism is due to the prospect it offers of fulfilling those dream-aspirations and dreams of vengeance which have been so deeply imbedded in the human soul from time immemorial. It promises a Paradise on earth, a Land of Hearts Desire full of happiness and enjoyment, and — sweeter still to the losers in life's game — humiliation of all who are stronger and better than the multitude. Logic and reasoning, which might show the absurdity of such dreams of bliss and revenge, are to be thrust aside.… It is against Logic, against Science and against the activity of thought itself. Socialism p. 7 Marxism
The interventionist policy provides thousands and thousands of people with safe, placid, and not too strenuous jobs at the expense of the rest of society. Socialism p. 457 Civil Service
The most important medium for social co-operation is language. Language bridges the chasm between individuals and only with its help can one man communicate to another something at least of what he is feeling . . . without it, there could be no thought but only instinct, no will but only impulse. Socialism p. 286 Language
The much abused shopkeepers have abolished slavery and serfdom, made woman the companion of man with equal rights, proclaimed equality before the law and freedom of thought and opinion, declared war on war, abolished torture, and mitigated the cruelty of punishment. What cultural force can boast of similar achievements? Socialism p. 398 Bourgeoisie
The nationalization of intellectual life, which must be attempted under Socialism, must make all intellectual progress impossible. Socialism p. 167 Socialism
The need of society for labor is never satisfied. Socialism p. 129 Unemployment
The only task of the strictly Liberal state is to secure life and property against attacks both from external and internal foes. Socialism p. 133 Classical Liberalism
The ordered organization of coercion we call the State. Socialism p. 280 State
The policy of strike, violence, and sabotage can claim no merit whatever for any improvement in the workers position. Socialism p. 437 Unions
The slogan Away with foreign goods! would lead us, if we accepted all its implications, to abolish the division of labor altogether. For the principle that makes the international division of labor seem advantageous is precisely the principle which recommends division of labor in any circumstances. Socialism p. 288 Protectionism
The truth is that love and marriage were separate and people did not expect marriage to give them lasting and unclouded happiness. Only when the idea of contract and consent has been imposed on marriage does the wedded couple demand that their union shall satisfy desire permanently. Socialism p. 85 Love
The weapon of the trade union is the strike. It must be borne in mind that every strike is an act of coercion, a form of extortion, a measure of violence directed against all who might act in opposition to the strikers intentions. Socialism p. 435 Unions
The widespread view that the monopolist can fix prices at will, thatin common phrasehe can dictate prices, is as erroneous as the conclusion, derived from this view, that he has in his hands the power to do whatever he likes. Socialism p. 344 Monopolies
The wish is father to the thought, says a figure of speech. What it means is that the wish is the father of faith. Socialism p. 317n Reason
The word Capitalism expresses, for our age, the sum of all evil. Even the opponents of Socialism are dominated by socialist ideas. Socialism p. 15 Capitalism
There are, after all, not many people who are prepared to renounce light-heartedly the fruits of culture, however much they may despise them in thought and abuse them in words, few who are willing to return without more ado to the way of life of the deer and the stag. Socialism p. 365 Retreatism
There is no clearly defined frontier between health and illness. Being ill is not a phenomenon independent of conscious will and of psychic forces working in the subconscious. A man's efficiency is not merely the result of his physical condition; it depends largely on his mind and will. Socialism p. 431 Health
There is no evidence that social evolution must move steadily upwards in a straight line. Social standstill and social retrogression are historical facts which we cannot ignore. World history is the graveyard of dead civilizations. Socialism p. 275 Progress
There is really no essential difference between the unlimited power of the democratic state and the unlimited power of the autocrat. Socialism pp. 64-65 Constitutional Government
They have no greater perception of the essentials of economic life than the errand boy, whose only idea of the work of the entrepreneur is that he covers pieces of paper with letters and figures. Socialism p. 189 Marxism
This, then, is freedom in the external life of man that he is independent of the arbitrary power of his fellows. Such freedom is no natural right. It did not exist under primitive conditions. It arose in the process of social development and its final completion is the work of mature Capitalism. Socialism p. 171 Freedom
Thought is bound up with speech. The thinkers conceptual edifice is built on the elements of language. Socialism p. 286 Language
Thus marriage, as we know it, has come into existence entirely as a result of the contractual idea penetrating into this sphere of life. All our cherished ideals of marriage have grown out of this idea. That marriage unites one man and one woman, that it can be entered into only with the free will of both parties, that it imposes a duty of mutual fidelity, that a mans violations of the marriage vows are to be judged no differently from a woman's, that the rights of husband and wife are essentially the same — these principles develop from the contractual attitude to the problem of marital life. Socialism pp. 82-83 Marriage
To be a member of a national minority involves multitudinous political disadvantages. The wider the functions of the political authority the more burdensome are these disadvantages. Socialism p. 202 Minorities
To drink coffee I do not need to own a coffee plantation in Brazil, an ocean steamer, and a coffee roasting plant, though all these means of production must be used to bring a cup of coffee to my table. Sufficient that others own these means of production and employ them for me. Socialism p. 31 Production
To see and to act in advance, to follow new ways, is always the concern only of the few, the leaders. Socialism p. 188 Genius
To the believer, religion brings consolation and courage; it enables him to see himself as a thread in the fabric of eternal life, it assigns to him a place in the imperishable plan of a world creator, and places him beyond time and space, old age and death, high in the celestial pastures. Socialism p. 84 Religion
True, the entrepreneur is free to give full rein to his whims, to dismiss workers off hand, to cling stubbornly to antiquated processes, deliberately to choose unsuitable methods of production and to allow himself to be guided by motives which conflict with the demands of consumers. But when and in so far as he does this he must pay for it. Socialism p. 401 Discrimination
Unemployment doles can have no other effect than the perpetuation of unemployment. Socialism p. 440 Unemployment Insurance
We are still far from understanding the ultimate and most profound secret of life, the principle of the origin of organisms. Who knows whether we shall ever discover it? Socialism p. 259 Mystery
We cannot really say any more about the inherited characteristics of the individual than that some men are more gifted from birth than others. Where the difference between good and bad is to be sought we cannot say. Socialism p. 288 Equality
When men have gained freedom in purely economic relationships they begin to desire it elsewhere. Socialism p. 171 Freedom
Within Marxism there is no place for free thought. Socialism p. 319 Marxism
Without speculation there can be no economic activity reaching beyond the immediate present. Socialism p. 125 Speculation
A free press can exist only where there is private control on the means of production. Anti-Capitalistic Mentality, The p. 55 Freedom of the Press
All that Lenin learned about business from the tales of his comrades who occasionally sat in business offices was that it required a lot of scribbling, recording, and ciphering. Thus, he declares that accounting and control are the chief things necessary for the organizing and correct functioning of society. . . . Here we have the philosophy of the filing clerk in its full glory. Anti-Capitalistic Mentality, The pp. 24-25 Lenin, Vladimir
Although it would be mere pedantry not to appreciate the peculiar grandeur of such sights as the New York skyline, it can be admitted that modern architecture has not attained the distinction of that of past centuries. Anti-Capitalistic Mentality, The p. 78 Architecture
American authors or scientists are prone to consider the wealthy businessman as a barbarian, as a man exclusively intent upon making money. Anti-Capitalistic Mentality, The p. 20 Intellectuals
As human nature is, everybody is prone to overrate his own worth and deserts. Anti-Capitalistic Mentality, The p. 13 Human Frailty
Big business always serves — directly or indirectly — the masses. Anti-Capitalistic Mentality, The p. 2 Big Business
Capital is not a free gift of God or of nature. It is the outcome of a provident restriction of consumption on the part of man. It is created and increased by saving and maintained by the abstention from dissaving. Anti-Capitalistic Mentality, The p. 84 Savings
Capitalism and socialism are two distinct patterns of social organization. Private control of the means of production and public control are contradictory notions and not merely contrary notions. There is no such thing as a mixed economy, a system that would stand midway between capitalism and socialism. Anti-Capitalistic Mentality, The pp. 64-65 Capitalism vs. Socialism
Capitalism is essentially a system of mass production for the satisfaction of the needs of the masses. It pours a horn of plenty upon the common man. It has raised the average standard of living to a height never dreamed of in earlier ages. It has made accessible to millions of people enjoyments which a few generations ago were only within the reach of a small elite. Anti-Capitalistic Mentality, The p. 49 Capitalism
Daydreams of a fair world which would treat him according to his real worth are the refuge of all those plagued by a lack of self-knowledge. Anti-Capitalistic Mentality, The p. 15 Fairness
Everybody is free to abstain from reading books, magazines, and newspapers he dislikes and to recommend to other people to shun these books, magazines, and newspapers. Anti-Capitalistic Mentality, The p. 56 Censorship
Freedom must be granted to all, even to base people, lest the few who can use it for the benefit of mankind be hindered. Anti-Capitalistic Mentality, The p. 108 Freedom
In the last hundred years many churches and even cathedrals were built and many more government palaces, schools, and libraries. But they do not show any original conception.... Only in apartment houses, office buildings and private homes have we seen something develop that may be qualified as an architectural style of our age. Anti-Capitalistic Mentality, The p. 78 Architecture
In the universe there is never and nowhere stability and immobility. Change and transformation are essential features of life. Each state of affairs is transient; each age is an age of transition. In human life there is never calm and repose. Life is a process, not a perseverance in a status quo. Anti-Capitalistic Mentality, The p. 106 Uncertainty
It is a fact that a hundred years ago only a few people anticipated the over-powering momentum which the anti-libertarian ideas were destined to acquire in a very short time. The ideal of liberty seemed to be so firmly rooted that everybody thought that no reactionary movement could ever succeed in eradicating it. Anti-Capitalistic Mentality, The p. 94 Liberty
It is not the fault of capitalism that the common man does not appreciate uncommon books. Anti-Capitalistic Mentality, The p. 52 Literature
It is true that most of the novels and plays published today are mere trash. Nothing else can be expected when thousands of volumes are written every year. Our age could still some day be called an age of the flowering of literature if only one out of a thousand books published would prove to be equal to the great books of the past. Anti-Capitalistic Mentality, The p. 52 Literature
Literature is not conformism, but dissent. Those authors who merely repeat what everybody approves and wants to hear are of no importance. What counts alone is the innovator, the dissenter, the harbinger of things unheard of, the man who rejects the traditional standards and aims at substituting new values and ideas for old ones. He is by necessity anti-authoritarian and anti-governmental, irreconcilably opposed to the immense majority of his contemporaries. He is precisely the author whose books the greater part of the public does not buy. Anti-Capitalistic Mentality, The p. 51 Literature
Men, cooperating under the system of the division of labor, have created all the wealth which the daydreamers consider as a free gift of nature. Anti-Capitalistic Mentality, The p. 81 Nature
Nature is not bountiful but stingy. It has restricted the supply of all things indispensable for the preservation of human life. Anti-Capitalistic Mentality, The p. 81 Nature
The characteristic feature of modern capitalism is mass production of goods destined for consumption by the masses. The result is a tendency towards a continuous improvement in the average standard of living, a progressing enrichment of the many. Anti-Capitalistic Mentality, The p. 1 Standard of Living
The characteristic mark of big business is mass production for the satisfaction of the needs of the masses. Under capitalism the workers themselves, directly or indirectly, are the main consumers of all those things that the factories are turning out. Anti-Capitalistic Mentality, The p. 42 Big Business
The first thing a genius needs is to breathe free air. Anti-Capitalistic Mentality, The p. 108 Genius
The heir of a wealthy man [undoubtedly] enjoys a certain advantage as he starts under more favorable conditions than others. Anti-Capitalistic Mentality, The pp. 40-41 Equality
The increase in what is called the productivity of labor is due to the employment of better tools and machines. Anti-Capitalistic Mentality, The p. 38 Productivity
The most ingenious technological inventions would be practically useless if the capital goods required for their utilization had not been accumulated by saving. Anti-Capitalistic Mentality, The p. 39 Savings
The only source of the generation of additional capital goods is saving. If all the goods produced are consumed, no new capital comes into being. Anti-Capitalistic Mentality, The p. 84 Savings
The poverty of the backward nations is due to the fact that their policies of expropriation, discriminatory taxation and foreign exchange control prevent the investment of foreign capital while their domestic policies preclude the accumulation of indigenous capital. Anti-Capitalistic Mentality, The p. 83 Development
The riches of the rich are not the cause of the poverty of anybody; the process that makes some people rich is, on the contrary, the corollary of the process that improves many peoples want satisfaction. The entrepreneurs, the capitalists and the technologists prosper as far as they succeed in best supplying the consumers. Anti-Capitalistic Mentality, The p. 43 Poverty
There has never been an era in which the many were prepared to do justice to contemporary art. Reverence to the great authors and artists has always been limited to small groups. Anti-Capitalistic Mentality, The p. 79 Arts
Those underlings who in all the preceding ages of history had formed the herds of slaves and serfs, of paupers and beggars, became the buying public, for whose favor the businessmen canvass. They are the customers who are always right, the patrons who have the power to make poor suppliers rich and rich suppliers poor. Anti-Capitalistic Mentality, The p. 2 Consumer
To the grumbler who complains about the unfairness of the market system only one piece of advice can be given: If you want to acquire wealth, then try to satisfy the public by offering them something that is cheaper or which they like better. Try to supersede Pinkapinka by mixing another beverage. Equality under the law gives you the power to challenge every millionaire. It is in a market not sabotaged by government-imposed restrictions exclusively your fault if you do not outstrip the chocolate king, the movie star and the boxing champion. Anti-Capitalistic Mentality, The pp. 910 Fairness
Under capitalism the common man enjoys amenities which in ages gone by were unknown and therefore inaccessible even to the richest people. Anti-Capitalistic Mentality, The p. 3 Standard of Living
Under capitalism, material success depends on the appreciation of a mans achievements on the part of the sovereign consumers. In this regard there is no difference between the services rendered by a manufacturer and those rendered by a producer, an actor or a playwright. Anti-Capitalistic Mentality, The p. 31 Arts
What characterizes capitalism is not the bad taste of the crowds, but the fact that these crowds, made prosperous by capitalism, became consumers of literature of course, of trashy literature. The book market is flooded by a downpour of trivial fiction for the semibarbarians. But this does not prevent great authors from creating imperishable works. Anti-Capitalistic Mentality, The p. 79 Arts
What characterizes capitalism is not the bad taste of the crowds, but the fact that these crowds, made prosperous by capitalism, became consumers of literature, of course, of trashy literature…. But this does not prevent great authors from creating imperishable works. Anti-Capitalistic Mentality, The p. 79 Literature
What gives to the individuals as much freedom as is compatible with life in society is the operation of the market economy. The constitutions and bills of rights do not create freedom. Anti-Capitalistic Mentality, The pp. 99-100 Free Market
Governments, political parties, pressure groups, and the bureaucrats of the educational hierarchy think they can avoid the inevitable consequences of unsuitable measures by boycotting and silencing the independent economists. But truth persists and works, even if nobody is left to utter it. Historical Setting of the Austrian School of Economics, The p. 45 Truth
The Enlightenment did not put its hopes upon the more or less accidental emergence of well-intentioned rulers and provident sages. Its optimism concerning mankind's future was founded upon the double faith in the goodness of man and in his rational mind. Historical Setting of the Austrian School of Economics, The p. 34 Reason
The greatness of the nineteenth century consisted in the fact that to some extent the ideas of Classical economics became the dominant philosophy of state and society. Historical Setting of the Austrian School of Economics, The p. 44 Laissez Faire
The horrors of revolution and civil war can be avoided if a disliked government can be smoothly dislodged at the next election. Historical Setting of the Austrian School of Economics, The p. 35 Elections
A government that sets out to abolish market prices is inevitably driven toward the abolition of private property; it has to recognize that there is no middle way between the system of private property in the means of production combined with free contract, and the system of common ownership of the means of production, or socialism. It is gradually forced toward compulsory production, universal obligation to labor, rationing of consumption, and, finally, official regulation of the whole of production and consumption. Theory of Money and Credit, The p. 281 Price Control
Accountancy is not perfect. The precision of its statements is only illusory. The valuations of goods and rights with which it deals are always based on estimates depending on more or less uncertain and unknown factors. Theory of Money and Credit, The p. 234 Economic Calculation
All monetary policies encounter the difficulty that the effects of any measures taken . . . can neither be foreseen in advance, nor their nature and magnitude be determined even after they have already occurred. Theory of Money and Credit, The p. 271 Monetary Policy
All the marvelous achievements of Western civilization are fruits grown on the tree of liberty. Theory of Money and Credit, The p. 454 Western Civilization
An increase in the purchasing power of money is disadvantageous to the debtor and advantageous to the creditor; a decrease in its purchasing power has the contrary significance. Theory of Money and Credit, The p. 229 Purchasing Power
As there are in the field of social affairs no constant relations between magnitudes, no measurement is possible and economics can never become quantitative. Theory of Money and Credit, The p. 460 Econometrics
Credit transactions are in fact nothing but the exchange of present goods against future goods. Theory of Money and Credit, The p. 47 Credit
During thousands of years, in all parts of the inhabited earth, innumerable sacrifices have been made to the chimera of just and reasonable prices. Theory of Money and Credit, The p. 282 Price Control
Economic affairs cannot be kept going by magistrates and policemen. Theory of Money and Credit, The p. 282 Coercion
Economic affairs cannot be kept going by magistrates and policemen. Theory of Money and Credit, The p. 282 Price Control
Even a manifestly erroneous doctrine should be refuted by careful analysis and the unmasking of the fallacies implied. A sound doctrine can win only by exploding the delusions of its adversaries. Theory of Money and Credit, The pp. 455-56 Ideology
Even the manifest futility of the International Monetary Fund does not deter authors from indulging in dreams about a world bank fertilizing mankind with floods of cheap credit. Theory of Money and Credit, The pp. 477-78 International Monetary Fund
Every restriction of trade creates vested interests that are from then onward opposed to its removal. Theory of Money and Credit, The p. 288 Protectionism
Foreign-exchange control is today primarily a device for the virtual expropriation of foreign investments. It has destroyed the international capital and money market. Theory of Money and Credit, The p. 476 Foreign Exchange
How pale is the art of sorcerers, witches, and conjurors when compared with that of the government's Treasury Department! Theory of Money and Credit, The p. 458 Fiat Money
Imports are in fact paid for by exports and not by money. Theory of Money and Credit, The p. 286 International Trade
Imprudent granting of credit is bound to prove just as ruinous to a bank as to any other merchant. Theory of Money and Credit, The p. 295 Banking
In all countries where inflation has been rapid, it has been observed that the decrease in the value of the money has occurred faster than the increase in its quantity. Theory of Money and Credit, The p. 259 Money Supply
Inflation has always been an important resource of policies of war and revolution and why we also find it in the service of socialism. Theory of Money and Credit, The p. 255 Inflation
Inflation is the fiscal complement of statism and arbitrary government. It is a cog in the complex of policies and institutions which gradually lead toward totalitarianism. Theory of Money and Credit, The p. 468 Inflation
Inflation is the true opium of the people and it is administered to them by anticapitalist governments and parties. Theory of Money and Credit, The p. 485 Inflation
It is impossible to grasp the meaning of the idea of sound money if one does not realize that it was devised as an instrument for the protection of civil liberties against despotic inroads on the part of governments. Ideologically it belongs in the same class with political constitutions and bills of rights. Theory of Money and Credit, The p. 454 Sound Money
It is not possible even to measure variations in the purchasing power of money. Theory of Money and Credit, The p. 257 Statistics
Lenders of money have been held in odium, at all times and among all peoples. Theory of Money and Credit, The p. 264 Creditors
Money has no utility other than that arising from the possibility of obtaining other economic goods in exchange for it. Theory of Money and Credit, The p. 118 Money
Money has thus become an aid that the human mind is no longer able to dispense with in making economic calculations. Theory of Money and Credit, The p. 62 Money
Money is nothing but a medium of exchange and it completely fulfills its function when the exchange of goods and services is carried on more easily with its help than would be possible to means of barter. Theory of Money and Credit, The p. 31 Money
Money is regarded as the cause of theft and murder, of deception and betrayal. Money is blamed when the prostitute sells her body and when the bribed judge perverts the law. It is money against which the moralist declaims when he wishes to oppose excessive materialism. Theory of Money and Credit, The p. 111 Money
No increase in the welfare of the members of a society can result from the availability of an additional quantity of money. Theory of Money and Credit, The p. 102 Money Supply
No nation need fear at any time to have less money than it needs. Theory of Money and Credit, The pp. 208-09 Money Supply
No very deep knowledge of economics is usually needed for grasping the immediate effects of a measure; but the task of economics is to foretell the remoter effects, and so to allow us to avoid such acts as attempt to remedy a present ill by sowing the seeds of a much greater ill for the future. Theory of Money and Credit, The p. 23 Economics
Only by letting fall morsels of statistics is it possible for the economic theorist to maintain his prestige. Theory of Money and Credit, The p. 216 Economics
Only one thing can conquer war — that liberal attitude of mind which can see nothing in war but destruction and annihilation, and which can never wish to bring about a war, because it regards war as injurious even to the victors. Theory of Money and Credit, The p. 433 War and Peace
Perpetual vigilance on the part of the citizens can achieve what a thousand laws and dozens of alphabetical bureaus with hordes of employees never have and never will achieve: the preservation of a sound currency. Theory of Money and Credit, The p. 495 Sound Money
Sound money still means today what it meant in the nineteenth century: the gold standard. Theory of Money and Credit, The p. 480 Sound Money
The advocates of public control cannot do without inflation. They need it in order to finance their policy of reckless spending and of lavishly subsidizing and bribing the voters. Theory of Money and Credit, The p. 479 Inflation
The assistance of inflation is invoked whenever a government is unwilling to increase taxation or unable to raise a loan; that is the truth of the matter. Theory of Money and Credit, The p. 253 Inflation
The classical or orthodox gold standard alone is a truly effective check on the power of the government to inflate the currency. Without such a check all other constitutional safeguards can be rendered vain. Theory of Money and Credit, The p. 495 Gold Standard
The entrepreneurs who approach banks for loans are suffering from shortage of capital; it is never shortage of money in the proper sense of the word. Theory of Money and Credit, The p. 349 Money Supply
The excellence of the gold standard is to be seen in the fact that it renders the determination of the monetary units purchasing power independent of the policies of governments and political parties. Theory of Money and Credit, The p. 456 Gold Standard
The fallacies implied in the Keynesian full-employment doctrine are, in a new attire, essentially the same errors which [Adam] Smith and [Jean Baptiste] Say long since demolished. Theory of Money and Credit, The p. 464 Keynes, John Maynard
The gold standard did not collapse. Governments abolished it in order to pave the way for inflation. The whole grim apparatus of oppression and coercion, policemen, customs guards, penal courts, prisons, in some countries even executioners, had to be put into action in order to destroy the gold standard. Theory of Money and Credit, The p. 461 Gold Standard
The greater the fund of means of subsistence in a community, the lower the rate of interest. Theory of Money and Credit, The p. 386 Interest Rate
The influence of speculation cannot alter the average level of prices over a given period; what it can do is to diminish the gap between the highest and the lowest prices. Price fluctuations are reduced by speculation, not aggravated, as the popular legend has it. Theory of Money and Credit, The p. 286 Speculation
The interests of the capitalists are scarcely ever represented in monetary policy. Theory of Money and Credit, The p. 414 Monetary Policy
The main political problem is how to prevent the rulers from becoming despots and enslaving the citizenry. Theory of Money and Credit, The p. 454 Politics
The money prices of today are linked with those of yesterday and before, and with those of tomorrow and after. Theory of Money and Credit, The p. 130 Purchasing Power
The proof of a theory is in its reasoning, not in its sponsorship. Theory of Money and Credit, The p. 99 Reason
The role played by man in production always consists solely in combining his personal forces with the forces of Nature in such a way that the cooperation leads to some particular desired arrangement of material. No human act of production amounts to more than altering the position of things in space and leaving the rest to Nature. Theory of Money and Credit, The p. 97 Production
The simple statement, that money is a commodity whose economic function is to facilitate the interchange of goods and services, does not satisfy those writers who are interested rather in the accumulation of material than in the increase of knowledge. Theory of Money and Credit, The pp. 46-47 Money
The truth is that every infringement of property rights and every restriction of free enterprise impairs the productivity of labor. Theory of Money and Credit, The p. 484 Private Property
The valuation of the monetary unit depends not upon the wealth of the country, but upon the ratio between the quantity of money and the demand for it, so that even the richest country may have a bad currency and the poorest country a good one. Theory of Money and Credit, The p. 278 Money
There cannot be stable money within an environment dominated by ideologies hostile to the preservation of economic freedom. Theory of Money and Credit, The p. 480 Sound Money
There has been no generation that has not grumbled about the expensive times that it lives in. But the fact that everything is becoming dearer simply means that the objective exchange value of money is falling. Theory of Money and Credit, The p. 177 Inflation
There is an inclination in the United States and in Anglo-Saxon countries generally to overestimate in a quite extraordinary manner the significance of index methods. In these countries, it is entirely overlooked that the scientific exactness of these methods leaves much to be desired, that they can never yield anything more than a rough result at best, and that the question whether one or other method of calculation is preferable can never be solved by scientific means. Theory of Money and Credit, The pp. 445-46 Statistics
There is only one efficacious way toward a rise in real wage rates and an improvement of the standard of living of the wage earners: to increase the per-head quota of capital invested. Theory of Money and Credit, The pp. 464-65 Wage Rates
This throttling of international credit can hardly be remedied otherwise than by setting aside the principle that it lies within the discretion of every government . . . to stop paying interest to foreign countries and also to prohibit interest and amortization payments on the part of its subjects. Theory of Money and Credit, The pp. 28-29 Foreign Capital
Thus the sound-money principle has two aspects. It is affirmative in approving the markets choice of a commonly used medium of exchange. It is negative in obstructing the governments propensity to meddle with the currency system. Theory of Money and Credit, The p. 455 Sound Money
What warrants success in a fight for freedom and civilization is not merely material equipment but first of all the spirit that animates those handling the weapons. This heroic spirit cannot be bought by inflation. Theory of Money and Credit, The p. 469 Spirit
When any sort of difference arises between law and opinion, a reaction must necessarily follow; a movement sets in against that part of the law that is felt to be unjust. Such conflicts always tend to end in a victory of opinion over the law; ultimately the views of the ruling class become embodied in the law. Theory of Money and Credit, The p. 229 Majority Rule
Where the free exchange of goods and services is unknown, money is not wanted. Theory of Money and Credit, The p. 41 Money
Who has any doubt that the belligerent peoples of Europe would have tired of war much more quickly if their governments had clearly and candidly laid before them at the time the account of their war expenditure? Theory of Money and Credit, The p. 254 Inflation
[They knew that] all men are liable to error and that it could happen that the majority, deluded by faulty doctrines propagated by irresponsible demagogues, could embark upon policies that would result in disaster, even in the entire destruction of civilization. Ultimate Foundation of Economic Science, The p. 93 Majority Rule
A game is a pastime, is a means to employ ones leisure time and to banish boredom. Ultimate Foundation of Economic Science, The p. 90 Sports
Action is purposive conduct. It is not simply behavior, but behavior begot by judgments of value, aiming at a definite end and guided by ideas concerning the suitability or unsuitability of definite means. . . . It is conscious behavior. It is choosing. It is volition; it is a display of the will. Ultimate Foundation of Economic Science, The p. 34 Action
As a method of economic analysis econometrics is a childish play with figures that does not contribute anything to the elucidation of the problems of economic reality. Ultimate Foundation of Economic Science, The p. 63 Econometrics
But for an almighty supreme being there cannot be any dissatisfaction with the prevailing state of affairs. The Almighty does not act, because there is no state of affairs that he cannot render fully satisfactory without any action. Ultimate Foundation of Economic Science, The p. 3 God
Cognizance of the relation between a cause and its effect is the first step toward mans orientation in the world and is the intellectual condition of any successful activity. Ultimate Foundation of Economic Science, The p. 20 Cause and Effect
Economics is not specifically about business; it deals with all market phenomena and with all their aspects, not only with the activities of a businessman. Ultimate Foundation of Economic Science, The p. 77 Economics
Every action is a speculation, i.e., guided by a definite opinion concerning the uncertain conditions of the future. Ultimate Foundation of Economic Science, The p. 51 Speculation
Experience is a mental act on the part of thinking and acting men. Ultimate Foundation of Economic Science, The p. 15 Experience
Experience tells us something we did not know before and could not learn but for having had the experience. Ultimate Foundation of Economic Science, The p. 18 Experience
Games are not reality, but merely play. They are civilized mans outlet for deeply ingrained instincts of enmity. When the game comes to an end, the victors and the defeated shake hands and return to the reality of their social life, which is cooperation and not fighting. Ultimate Foundation of Economic Science, The p. 88 Sports
He [a consumer] buys because he believes that to acquire the merchandise in question will satisfy him better than keeping the money or spending it for something else. Ultimate Foundation of Economic Science, The p. 76 Exchange
History in the broadest sense of the term is the totality of human experience. Ultimate Foundation of Economic Science, The p. 45 History
If Dante, Shakespeare, or Beethoven had died in childhood, mankind would miss what it owes to them. In this sense we may say that chance plays a role in human affairs. Ultimate Foundation of Economic Science, The p. 61 Fate
If there were no regularity, nothing could be learned from experience. Ultimate Foundation of Economic Science, The p. 21 Regularity
In a game there are winners and losers. But a business deal is always advantageous for both parties. If both the buyer and the seller were not to consider the transaction as the most advantageous action they could choose under the prevailing conditions, they would not enter into the deal. Ultimate Foundation of Economic Science, The p. 90 Exchange
In social cooperation everyone in serving his own interests serves the interests of his fellow men. Driven by the urge to improve his own conditions, he improves the conditions of other people. The baker does not hurt those for whom he bakes bread; he serves them. Ultimate Foundation of Economic Science, The p. 88 Self-Interest
It is neither natural nor necessary that the members of the same race or the inhabitants of the same country cooperate with one another more closely than with members of other races or inhabitants of other countries. The ideas of race solidarity and racial hatred are no less ideas than any other ideas, and only where they are accepted by the individuals do they result in corresponding action. Ultimate Foundation of Economic Science, The p. 81 Races
It was in the climate created by this capitalistic system of individualism that all the modern intellectual achievements thrived. Ultimate Foundation of Economic Science, The p. 123 Freedom of Thought
It would be vain to search for a rule if there were no regularity. Ultimate Foundation of Economic Science, The p. 22 Regularity
Man is not, like the animals, an obsequious puppet of instincts and sensual impulses. Man has the power to suppress instinctive desires, he has a will of his own, he chooses between incompatible ends. Ultimate Foundation of Economic Science, The p. 57 Choice
Man is only a tiny speck in the infinite vastness of the universe and that the whole history of mankind is but a fleeting episode in the endless flux of eternity. Ultimate Foundation of Economic Science, The p. 125 Mystery
Man is the only animal that is able, within definite limits, to adjust his environment purposively to suit him better. Ultimate Foundation of Economic Science, The p. 8 Environment
Mans place in that part of the universe about which we can learn something is certainly modest only. Ultimate Foundation of Economic Science, The p. 125 Mystery
Mans striving after an improvement of the conditions of his existence impels him to action. Action requires planning and the decision which of various plans is the most advantageous. Ultimate Foundation of Economic Science, The p. 90 Action
Many of our contemporaries are firmly convinced that what is needed to render all human affairs perfectly satisfactory is brutal suppression of all bad people, i.e., of those with whom they disagree. Ultimate Foundation of Economic Science, The p. 95 Freedom
Men are unequal; individuals differ from one another. They differ because their prenatal as well as their postnatal history is never identical. Ultimate Foundation of Economic Science, The p. 59 Equality
Metaphysics and theology are not, as the positivists pretend, products of an activity unworthy of Homo sapiens, remnants of mankind's primitive age that civilized people ought to discard. They are a manifestation of mans unappeasable craving for knowledge. Ultimate Foundation of Economic Science, The p. 120 Religion
No game can, apart from the pleasure it gives to the players and to the spectators, contribute anything to the improvement of human conditions. Ultimate Foundation of Economic Science, The p. 90 Sports
No politician is any longer interested in the question whether a measure is fit to produce the ends aimed at. What alone counts for him is whether the majority of the voters favor or reject it. Ultimate Foundation of Economic Science, The p. 94 Political Parties
No reform can render perfectly satisfactory the operation of an institution the essential activity of which consists in inflicting pain. Ultimate Foundation of Economic Science, The p. 100 State
No technological computation and calculation would be possible in an environment that would not employ a generally used medium of exchange, money. Ultimate Foundation of Economic Science, The p. 127 Money
One cannot organize or institutionalize the emergence of new ideas. Ultimate Foundation of Economic Science, The p. 129 Ideas
Perhaps there are somewhere in the infinite universe beings whose minds outrank our minds to the same extent as our minds surpass those of the insects. Perhaps there will once somewhere live beings who will look upon us with the same condescension as we look upon amoebae. Ultimate Foundation of Economic Science, The p. 17 Mystery
Plato founded his utopia on the hope that a small group of perfectly wise and morally impeccable philosophers will be available for the supreme conduct of affairs. Ultimate Foundation of Economic Science, The p. 99 Plato
Plato was anxious to find a tyrant who would use his power for the realization of the Platonic ideal state. The question whether other people would like or dislike what he himself had in store for them never occurred to Plato. Ultimate Foundation of Economic Science, The p. 95 Plato
Scientific research will never succeed in providing a full answer to what is called the riddles of the universe. It can never show how out of an inconceivable nothing emerged all that is and how one day all that exists may again disappear and the nothing alone will remain. Ultimate Foundation of Economic Science, The p. 53 Mystery
Statistics is the description in numerical terms of experiences concerning phenomena not subject to regular uniformity. . . . Statistics is therefore a specific method of history. Ultimate Foundation of Economic Science, The p. 55 Statistics
The characteristic feature of all utopian plans from that of Plato down to that of Marx is the rigid petrification of all human conditions. Once the perfect state of social affairs is attained, no further changes ought to be tolerated. Ultimate Foundation of Economic Science, The p. 123 Utopians
The ideas that change the intellectual climate of a given environment are those unheard of before. For these new ideas there is no other explanation than that there was a man from whose mind they originated. Ultimate Foundation of Economic Science, The p. 91 Ideas
The macroeconomic concept of national income is a mere political slogan devoid of any cognitive value. Ultimate Foundation of Economic Science, The p. 87 Gross National Product
The main characteristic of collectivism is that it does not take notice of the individuals will and moral self-determination. Ultimate Foundation of Economic Science, The p. 106 Collectivism
The main political problem is how to prevent the police power from becoming tyrannical. This is the meaning of all the struggles for liberty. Ultimate Foundation of Economic Science, The p. 98 Liberty
The market economy itself was not a product of violent action of revolutions but of a series of gradual peaceful changes. The implications of the term industrial revolution are utterly misleading. Ultimate Foundation of Economic Science, The p. 109 Industrial Revolution
The market economy was not devised by a master mind; it was not first planned as an utopian scheme and then put to work. Ultimate Foundation of Economic Science, The p. 109 Free Market
The masses do not like those who surpass them in any regard. The average man envies and hates those who are different. Ultimate Foundation of Economic Science, The p. 123 Envy
The masses, in their capacity as consumers, ultimately determine everybody's revenues and wealth. Ultimate Foundation of Economic Science, The p. 112 Wealth
The men who are to protect the community against violent aggression easily turn into the most dangerous aggressors. They transgress their mandate. They misuse their power for the oppression of those whom they were expected to defend against oppression. Ultimate Foundation of Economic Science, The p. 98 Police Power
The nonhuman animals never proceed beyond instinctive urges and conditioned reflexes. Ultimate Foundation of Economic Science, The p. 49 Animals
The research activities of the experimental natural sciences are in themselves neutral with regard to any philosophical and political issue. But they can thrive and become beneficial for mankind only where there prevails a social philosophy of individualism and freedom. Ultimate Foundation of Economic Science, The p. 128 Technology
The social engineer is the reformer who is prepared to liquidate all those who do not fit into his plan for the arrangement of human affairs. Ultimate Foundation of Economic Science, The p. 94 Social Planning
The study of economics has been again and again led astray by the vain idea that economics must proceed according to the pattern of other sciences. Ultimate Foundation of Economic Science, The p. 3 Economics
The wealth of the well-to-do of an industrial society is both the cause and effect of the masses well-being. Ultimate Foundation of Economic Science, The p. 113 Wealth
There always remains an orbit that to the limited knowledge of man appears as an orbit of pure chance and marks life as a gamble. Man and his works are always exposed to the impact of unforeseen and uncontrollable events. Ultimate Foundation of Economic Science, The pp. 65-66 Fate
There are fads and fashions in the treatment of scientific problems and in the terminology of the scientific language. Ultimate Foundation of Economic Science, The p. 69 Science
There is within the infinite expanse of what is called the universe or nature a small field in which mans conscious conduct can influence the course of events. Ultimate Foundation of Economic Science, The p. 11 Mystery
What elevates man above all other animals is the cognition that peaceful cooperation under the principle of the division of labor is a better method to preserve life and to remove felt uneasiness than indulging in pitiless biological competition for a share in the scarce means of subsistence provided by nature. Guided by this insight, man alone among all living beings consciously aims at substituting social cooperation for what philosophers have called the state of nature or bellum omnium contra omnes or the law of the jungle. Ultimate Foundation of Economic Science, The p. 97 Law of the Jungle
What is called economic progress is the joint effect of the activities of the three progressive groups . . . the savers, the scientist-inventors, and the entrepreneurs, operating in a market economy. Ultimate Foundation of Economic Science, The p. 127 Progress
What is wrong with the discipline that is nowadays taught in most universities under the misleading label of economics is not that the teachers and the authors of the textbooks are either not businessmen or failed in their business enterprises. The fault is with their ignorance of economics and with their inability to think logically. Ultimate Foundation of Economic Science, The p. 78 Education
What pushes the masses into the camp of socialism is, even more than the illusion that socialism will make them richer, the expectation that it will curb all those who are better than they themselves are. . . . There will no longer be any room left for innovators and reformers. Ultimate Foundation of Economic Science, The p. 123 Envy
What transformed the stagnant conditions of the good old days into the activism of capitalism was not changes in the natural sciences and in technology, but the adoption of the free enterprise principle. Ultimate Foundation of Economic Science, The p. 122 Conservatism
What transformed the world of horse-drawn carriages, sailing ships, and windmills step by step into a world of airplanes and electronics was the laissez-faire principle. Ultimate Foundation of Economic Science, The p. 127 Laissez Faire
Yet the criterion of truth is that it works even if nobody is prepared to acknowledge it. Ultimate Foundation of Economic Science, The p. 94 Truth
A historians achievement consists in presenting the past in a new perspective of understanding. Theory and History p. 290 History
A technological invention is not something material. It is the product of a mental process, of reasoning and conceiving new ideas. The tools and machines may be called material, but the operation of the mind which created them is certainly spiritual. Theory and History p. 109 Entrepreneurs
All judgments of value are personal and subjective. There are no judgments of value other than those asserting I prefer, I like better, I wish. Theory and History p. 22 Judgment
Although some intolerance, bigotry, and lust for persecution is still left in religious matters, it is unlikely that religious passion will kindle wars in the near future. The aggressive spirit of our age stems from another source, from endeavors to make the state totalitarian and to deprive the individual of autonomy. Theory and History p. 64 Religion
At least one of the characteristic marks of a true theory is that action based on it succeeds in attaining the expected result. In this sense, truth works while untruth does not work. Theory and History p. 123 Truth
Behaviorism fails to explain why different people adjust themselves to the same conditions in different ways. Theory and History p. 245 Behaviorism
Behaviorism proposes to study human behavior according to the methods developed by animal and infant psychology. It seeks to investigate reflexes and instincts, automatisms and unconscious reactions. But it has told us nothing about the reflexes that have built cathedrals, railroads, and fortresses, the instincts that have produced philosophies, poems, and legal systems, the automatisms that have resulted in the growth and decline of empires, the unconscious reactions that are splitting atoms. Theory and History pp. 245-46 Behaviorism
Choosing ultimate ends is a personal, subjective, individual affair. Choosing means is a matter of reason, choosing ultimate ends a matter of the soul and the will. Theory and History p. 15 Choice
Collectivism is a doctrine of war, intolerance, and persecution. If any of the collectivist creeds should succeed in its endeavors, all people but the great dictator would be deprived of their essential human quality. They would become mere soulless pawns in the hands of a monster. Theory and History p. 61 Collectivism
Conduct suited to preserve social cooperation is just, conduct detrimental to the preservation of society is unjust. Theory and History p. 54 Justice
Each individual is the only and final arbiter in matters concerning his own satisfaction and happiness. Theory and History p. 13 Happiness
Every action adds something to history, affects the course of future events, and is in this sense a historical fact. The most trivial performance of daily routine by dull people is no less a historical datum than is the most startling innovation of the genius. Theory and History p. 195 History
Every doctrine denying to the single paltry individual any role in history must finally ascribe changes and improvements to the operation of instincts. As those upholding such doctrines see it, man is an animal that has the instinct to produce poems, cathedrals, and airplanes. Theory and History pp. 194-95 Instinct
Every quantity that we can observe is a historical event, a fact which cannot be fully described without specifying the time and geographical point. The econometrician is unable to disprove this fact, which cuts the ground from under his reasoning. He cannot help admitting that there are no behavior constants. Theory and History p. 10 Econometrics
For the charismatic leader but one thing matters: the faithful performance of his mission no matter what the means he may be forced to resort to. He is above all laws and moral precepts. What he does is always right, and what his opponents do is always wrong. Theory and History p. 164 Politics
Great Britain would not have gone socialist if the Conservatives, not to speak of the Liberals, had not virtually endorsed socialist ideas. Theory and History p. 319n Conservatism
Grumblers may blame Western civilization for its materialism and may assert that it gratified nobody but a small class of rugged exploiters. But their laments cannot wipe out the facts. Millions of mothers have been made happier by the drop in infant mortality. Famines have disappeared and epidemics have been curbed. Theory and History p. 334 Capitalism
History looks backward into the past, but the lesson it teaches concerns things to come. It does not teach indolent quietism; it rouses man to emulate the deeds of earlier generations. Theory and History p. 294 History
Ideas live longer than walls and other material artifacts. Theory and History p. 196 Ideas
In the long run even the most despotic governments with all their brutality and cruelty are no match for ideas. Eventually the ideology that has won the support of the majority will prevail and cut the ground from under the tyrants feet. Then the oppressed many will rise in rebellion and overthrow their masters. Theory and History p. 372 Ideas
In the unhampered market economy there are no privileges, no protection of vested interests, no barriers preventing anybody from striving after any prize. Theory and History p. 114 Class Mobility
It has sometimes been asserted that there is more truth in fiction than in history. Insofar as the novel or play is looked upon as a disclosure of the authors mind, this is certainly correct. The poet always writes about himself, always analyzes his own soul. Theory and History p. 280 Poetry
It is a fact that hardly any historian has fully avoided passing judgments of value. Theory and History p. 21 History
It is a hopeless task to interpret a symphony, a painting, or a novel. The interpreter at best tries to tell us something about his reaction to the work. He cannot tell us with certainty what the creator's meaning was or what other people may see in it. Even if the creator himself provides a commentary on his work, as in the case of program-music, this uncertainty remains. There are no words to describe the ineffable. Theory and History p. 276 Arts
It is an enormous simplification to speak of the American mind. Every American has his own mind. Theory and History pp. 191-92 America
It is an illusion to expect that despotism will always side with the good causes. Theory and History p. 372 Government
It is justifiable if ethics and religion tell people that they ought to make better use of the well-being that capitalism brings them. . . . But it is irresponsible to condemn one social system and to recommend its replacement by another system without having fully investigated the economic consequences of each. Theory and History p. 343 Religion
It is only the passionate pro-socialist zeal of mathematical pseudo-economists that transforms a purely analytical tool of logical economics into an utopian image of the good and most desirable state of affairs. Theory and History p. 367 Equilibrium
It was not the Syllabus of Pope Pius IX that paved the way for the return of intolerance and the persecution of dissenters. It was the writings of the socialists. Theory and History p. 68 Christianity
Man is not the member of one group only and does not appear on the scene of human affairs solely in the role of a member of one definitive group. Theory and History p. 257 Groups
Marx's economic teachings are essentially a garbled rehash of the theories of Adam Smith and, first of all, of Ricardo. Theory and History pp. 124-25 Marxism
No mass phenomenon can be adequately treated without analyzing the ideas implied. And no new ideas spring from the mythical mind of the masses. Theory and History p. 263 Ideas
One of the fundamental conditions of mans existence and action is the fact that he does not know what will happen in the future. Theory and History p. 180 Uncertainty
Only stilted pedants can conceive the idea that there are absolute norms to tell what is beautiful and what is not. They try to derive from the works of the past a code of rules with which, as they fancy, the writers and artists of the future should comply. But the genius does not cooperate with the pundit. Theory and History p. 63 Arts
Polylogism denies the uniformity of the logical structure of the human mind. Every social class, every nation, race, or period of history is equipped with a logic that differs from the logic of other classes, nations, races, or ages. Hence bourgeois economics differs from proletarian economics, German physics from the physics of other nations, Aryan mathematics from Semitic mathematics. Theory and History pp. 31-32 Logic
Talk about the magnificence of untouched nature is idle if it does not take into account what man has got by desecrating nature. Theory and History pp. 218-19 Environment
The big business enterprises are almost without exception corporations, precisely because they are too big for single individuals to own them entirely. The growth of business units has far outstripped the growth of individual fortunes. Theory and History p. 118 Big Business
The characteristic feature of a free society is that it can function in spite of the fact that its members disagree in many judgments of value. Theory and History p. 61 Freedom
The churches are right to lament the destitution of the masses in the economically backward countries. But they are badly mistaken when they assume that anything can wipe out the poverty of these wretched people but unconditional adoption of the system of profit-seeking big business, that is, mass production for the satisfaction of the needs of the many. Theory and History pp. 343-44 Religion
The distinction between an economic sphere of human life and activity and a noneconomic sphere is the worst of their fallacies. Theory and History pp. 376-77 Freedom
The egalitarian doctrine is manifestly contrary to all the facts established by biology and by history. Only fanatical partisans of this theory can contend that what distinguishes the genius from the dullard is entirely the effect of postnatal influences. Theory and History p. 331 Equality
The enjoyment of art and literature presupposes a certain disposition and susceptibility on the part of the public. Taste is inborn to only a few. Others must cultivate their aptitude for enjoyment. Theory and History p. 63 Arts
The essence of an individuals freedom is the opportunity to deviate from traditional ways of thinking and of doing things. Theory and History p. 378 Conservatism
The essence of an individuals freedom is the opportunity to deviate from traditional ways of thinking and of doing things. Theory and History p. 378 Creativity
The fundamental thesis of rationalism is unassailable. Man is a rational being; that is, his actions are guided by reason. Theory and History p. 269 Rational Action
The idea of equal distribution of land is a pernicious illusion. Its execution would plunge mankind into misery and starvation, and would in fact wipe out civilization itself. Theory and History p. 354 Equality
The mere fact that an event happened in a distant country and a remote age does not in itself prove that it has no bearing on the present. Theory and History p. 290 History
The positivists tell us that one day a new scientific discipline will emerge which will make good their promises and will describe in every detail the physical and chemical processes that produce in the body of man definite ideas. But it is evident that such a metaphysical proposition can in no way invalidate the results of the discursive reasoning of the sciences of human action. Theory and History p. 3 Positivism
The sciences of human action start from the fact that man purposefully aims at ends he has chosen. It is precisely this that all brands of positivism, behaviorism, and panphysicalism want either to deny altogether or to pass over in silence. Theory and History p. 3 Positivism
The struggle for freedom is ultimately not resistance to autocrats or oligarchs but resistance to the despotism of public opinion. Theory and History pp. 66-67 Public Opinion
The worst and most dangerous form of absolutist rule is that of an intolerant majority. Theory and History p. 67 Politics
There are no irreconcilable conflicts between selfishness and altruism, between economics and ethics, between the concerns of the individual and those of society. Theory and History pp. 54-55 Conflict
There is no such thing as a nonhistorical analysis of the present state of affairs. Theory and History p. 287 History
Those politicians, professors and union bosses who curse big business are fighting for a lower standard of living. Theory and History p. 147 Anti-Trust Laws
Thoughts and ideas are not phantoms. They are real things. Although intangible and immaterial, they are factors in bringing about changes in the realm of tangible and material things. Theory and History p. 96 Ideas
Truth refers to what is or was, not to a state of affairs that is not or was not but would suit the wishes of the truth-seeker better. Theory and History p. 298 Truth
Value is not intrinsic. It is not in things and conditions but in the valuing subject. Theory and History p. 23 Value
What a man can say about the future is always merely speculative anticipation. Theory and History p. 203 Uncertainty
What distinguishes civilized man from a barbarian must be acquired by every individual anew. Theory and History p. 293 Civilization
When the collectivist extols the state, what he means is not every state but only that regime of which he approves, no matter whether this legitimate state exists already or has to be created. Theory and History p. 254 Collectivism