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The Ultimate Foundation of Economic Science: An Essay on Method (1962)
Ludwig von Mises
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| Quote | Source | Page | Subject |
|---|---|---|---|
| A game is a pastime, is a means to employ ones leisure time and to banish boredom. | The Ultimate Foundation of Economic Science | 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. | The Ultimate Foundation of Economic Science | 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. | The Ultimate Foundation of Economic Science | 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. | The Ultimate Foundation of Economic Science | 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. | The Ultimate Foundation of Economic Science | 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. | The Ultimate Foundation of Economic Science | p. 77 | Economics |
| Every action is a speculation, i.e., guided by a definite opinion concerning the uncertain conditions of the future. | The Ultimate Foundation of Economic Science | p. 51 | Speculation |
| Experience is a mental act on the part of thinking and acting men. | The Ultimate Foundation of Economic Science | p. 15 | Experience |
| Experience tells us something we did not know before and could not learn but for having had the experience. | The Ultimate Foundation of Economic Science | 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. | The Ultimate Foundation of Economic Science | p. 88 | Sports |