Ludwig von Mises

A Quote by Ludwig von Mises on value, monetary value, economic calculation, and valuation error

Monetary calculation is not the calculation, and certainly not the measurement, of value. Its basis is the comparison of the more important and the less important. It is an ordering according to rank, an act of grading (Cuhel), and not an act of measuring. It was a mistake to search for a measure of the value of goods. In the last analysis, economic calculation does not rest on the measurement of values, but on their arrangement in an order of rank.

Ludwig von Mises

Source: p.169 Epistemological Problems of Economics, 3rd edition; 2003; Ludwig von Mises Institute

Contributed by: peter

A Quote by Ludwig von Mises on freedom, liberty, cencorship, approval, and subjectivism

It is completely in accord with the etatist thinking prevalent everywhere today to consider a theory to be finally disposed of merely because the authorities who control appointments to academic positions, want to know nothing of it, and to see the criterion of truth in the approval of a government office.

Ludwig von Mises

Source: Source: p.196 Epistemological Problems of Economics, 3rd edition; 2003; Ludwig von Mises Institute

Contributed by: peter

A Quote by Ludwig von Mises on money, wealth, liberty, freedom, and economics

It is impossible to grasp the meaning of the idea of sound money if one does not realize that it was devised as an instrument for the protection of civil liberties against despotic inroads on the part of governments.

Ludwig von Mises

Source: The Theory of Money and Credit, p. 454.

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A Quote by Ludwig von Mises on thoughts and ideas

Thoughts and ideas are not phantoms. They are real things. Although intangible and immaterial, they are factors in bringing about changes in the realm of tangible and material things.

Ludwig von Mises

Source: Theory and History p.96

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A Quote by Ludwig von Mises on human action, needs, ideas, and metaphysics

In reality no food is valued solely for its nutritive power and no garment or house solely for the protection it affords against cold weather and rain…. the demand for goods is widely influenced by metaphysical, religious, and ethical considerations, by aesthetic value judgments, by customs, habits, prejudice, tradition, changing fashions, and many other things.

Ludwig von Mises

Source: Human Action: A Treatise on Economics (Scholars Edition), Pages: 234

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A Quote by Ludwig von Mises on economy, free will, liberty, and freedom

Neither the entrepreneurs nor the farmers nor the capitalists determine what has to be produced. The consumers do that.

Ludwig von Mises

Source: Human Action: A Treatise on Economics (Scholars Edition), Pages: 270

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A Quote by Ludwig von Mises on economy, business, and production

Production is not something physical, material, and external; it is a spiritual and intellectual phenomenon.

Ludwig von Mises

Source: Human Action: A Treatise on Economics (Scholars Edition), Pages: 141

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A Quote by Ludwig von Mises on economy, business, and freedom

Profits are the driving force of the market economy. The greater the profits, the better the needs of the consumers are supplied... He who serves the public best, makes the highest profits.

Ludwig von Mises

Source: Human Action: A Treatise on Economics (Scholars Edition), Pages: 805

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A Quote by Ludwig von Mises on human action and history

The supremacy of public opinion determines not only the singular role that economics occupies in the complex of thought and knowledge. It determines the whole process of human history.

Ludwig von Mises

Source: Human Action: A Treatise on Economics (Scholars Edition), Pages: 859

Contributed by: peter

A Quote by Ludwig von Mises on society, ideas, and economy

The flowering of human society depends on two factors: the intellectual power of outstanding men to conceive sound social and economic theories, and the ability of these or other men to make these ideologies palatable to the majority.

Ludwig von Mises

Source: Human Action: A Treatise on Economics (Scholars Edition), Pages: 860

Contributed by: peter

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