Ludwig von Mises

It is impossible to understand the history of economic thought if one does not pay attention to the fact that read more

It is impossible to understand the history of economic thought if one does not pay attention to the fact that economics as such is a challenge to the conceit of those in power.

Government and state can never be perfect because they owe their raison d'etre to the imperfection of man and can read more

Government and state can never be perfect because they owe their raison d'etre to the imperfection of man and can attain their end, the elimination of man's innate impulse to violence, only by recourse to violence, the very thing they are called upon to prevent.

Each epoch has found in the Gospels what it sought to find there, and has overlooked what it wished to read more

Each epoch has found in the Gospels what it sought to find there, and has overlooked what it wished to overlook.

The class of those who have the ability to think their own thoughts is separated by an unbridgeable gulf from read more

The class of those who have the ability to think their own thoughts is separated by an unbridgeable gulf from the class of those who cannot.

The rich adopt novelties and become accustomed to their use. This sets a fashion which others imitate. Once the richer read more

The rich adopt novelties and become accustomed to their use. This sets a fashion which others imitate. Once the richer classes have adopted a certain way of living, producers have an incentive to improve the methods of manufacture so that soon it is possible for the poorer classes to follow suit. Thus luxury furthers progress. Innovation "is the whim of an elite before it becomes a need of the public. The luxury today is the necessity of tomorrow." Luxury is the roadmaker of progress: it develops latent needs and makes people discontented. In so far as they think consistently, moralists who condemn luxury must recommend the comparatively desireless existence of the wild life roaming in the woods as the ultimate ideal of civilized life.