Mises Daily

There is no other means to attain full employment, rising real wage rates and a high standard of living for the common man than private initiative and free enterprise.

Liberalism has many meanings, but I wish to maintain that the most authentic form of liberalism has been concerned above all with two things: the expansion of a free functioning civil society and the restriction of the activity of the state.

"The problems of poor relief are problems of the arrangement of consumption, not of the arrangement of production activities."

The vocational economist is dedicated to a body of ideas — not merely money, fame, or power — and strives to master the system of economic theory as handed down by the great system builders and innovators of the past. 

The workers were never enthusiastic about socialism. Socialism was brought to the masses by intellectuals of bourgeois background, dining and wining together in the luxurious London homes and country seats of late Victorian "society."

The praxeological method was the basic method of the earlier Austrian school and also of a considerable segment of the older classical school.

Mises's fundamental accomplishment was to take the theory of marginal utility and apply it to the demand for and the value, or the price, of money. 

Where there is no business at all, business can be neither good nor bad. There may be starvation, and famine, but no depression in the sense in which this term is used in dealing with the problems of a market economy.

 Increased velocity of circulation is not, in itself, a contributing cause of higher commodity prices. It is not even a link in the chain of causation.

In much of America, the New Deal was run by a small number of very powerful political bosses.