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

Quotable MisesThis database of quotations from Mises was prepared for The Quotable Mises edited by Mark Thornton, available from the Mises Institute store for $20. Send corrections to the editor. Here is a source page on the editions of the books referenced.

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Top> Browse by source: Economic Freedom and Interventionism
Ludwig von MisesUsed 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. 7America
Ludwig von MisesThe most serious dangers for American freedom and the American way of life do not come from without.Economic Freedom and Interventionism p. 101America
Ludwig von MisesFull government control of all activities of the individual is virtually the goal of both national parties.Economic Freedom and Interventionism p. 157America
Ludwig von MisesThere is no doubt that Bohm-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. 133Bhm-Bawerk, Eugen von
Ludwig von MisesA 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. 135Bhm-Bawerk, Eugen von
Ludwig von MisesA sound monetary policy is one of the foremost means to thwart the insidious schemes of communism.Economic Freedom and Interventionism p. 106Communism
Ludwig von MisesThe 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. 51-52Economics
Ludwig von MisesThe 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. 235Economics
Ludwig von MisesThere 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. 154Economists
Ludwig von MisesIn 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. 234Economists
Ludwig von MisesThe 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. 171Education
Ludwig von MisesNobody 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. 23132Envy
Ludwig von MisesTherefore 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. 244Future
Ludwig von MisesThe 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. 86Gold Standard
Ludwig von MisesDaily experience proves clearly to everybody but the most bigoted fanatics of socialism that governmental management is inefficient and wasteful.Economic Freedom and Interventionism p. 62Government
Ludwig von MisesThere is no remedy for the inefficiency of public management.Economic Freedom and Interventionism p. 63Government
Ludwig von MisesIn 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. 99Kant, Immanuel
Ludwig von MisesThe fundamental law of the market is: the customer is always right.Economic Freedom and Interventionism p. 6Market
Ludwig von MisesDr. 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. 155Rothbard, Murray
Ludwig von MisesNow 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. 158Rothbard, Murray
Ludwig von MisesSmith did not inaugurate a new chapter in social philosophy and did not sow on land hitherto left uncultivated.Economic Freedom and Interventionism p. 115Smith, Adam
Ludwig von MisesReading 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. 117Smith, Adam
Ludwig von MisesWestern 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. 150Western Civilization