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The Ludwig von Mises Institute

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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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Ludwig von MisesThe 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. 76Rule of Law
Ludwig von MisesThe alternative to the rule of law is the rule of despots.Bureaucracy p. 76Rule of Law
Ludwig von MisesIt 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. 6364Rule of Law
Ludwig von MisesIt is the rule of law alone which hinders the rulers from turning themselves into the worst gangsters.Planned Chaos p. 64Rule of Law
Ludwig von MisesClassical liberalism regarded those laws best that afforded the least discretionary power to executive authorities, thus avoiding arbitrariness and abuse. The modern state seeks to expand its discretionary powereverything is to be left to the discretion of officials.A Critique of Interventionism pp. 3132Rule of Law