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The Ludwig von Mises Institute

Tu Ne Cede Malis

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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 subject: Risk
Ludwig von MisesAll economic activity is based upon an uncertain future. It is therefore bound up with risk. It is essentially speculation.Socialism p. 181Risk
Ludwig von MisesThere is no such thing as a safe investment.Human Action p. 806; p. 810Risk
Ludwig von MisesThere is no such thing as independence of the vicissitudes of the market.Human Action p. 806; p. 810Risk
Ludwig von MisesEstimates 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. 816Risk