History of the Austrian School of Economics

At Finda

Affluence and subsistence are two very different standards, and if welfare statists choose to import arguments for mere subsistence — as with appeals to the alleged lack of freedom of the starving man — then they must be held to this standard.

Ludwig was slow to allow Margit onto his hitherto solitary path. But on the other hand he was longing for the love of a true companion.

Increased capital in proportion to labor is the only means of producing more without the number of workers increasing.

The customary terminology misrepresents these things entirely. The philosophy commonly called individualism is a philosophy of social cooperation and the progressive intensification of the social nexus.

Real civilization is built on a foundation not of exploitation but of cooperation.

[N]o good can be employed for the function of a medium of exchange which at the very beginning of its use for this purpose did not have exchange value on account of other employments.

From Gene Epstein in Barron’s

We were now not only looking for an isolationist movement; we were looking for an anti-imperialist movement, a movement that zeroed in on the American Empire as the great threat to the peace…