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50 of 399 results found for - "Ludwig von Mises"  
[Quote No.30435] Need Area: Mind > Learn
"The history of mankind is the history of ideas." - Ludwig Von Mises
Famous economist
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[Quote No.34800] Need Area: Mind > Learn
"The criterion of truth is that it works even if nobody is prepared to acknowledge it." - Ludwig von Mises

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[Quote No.35834] Need Area: Mind > Learn
"Experience tells us something we did not know before and could not learn but for having had the experience." - Ludwig von Mises
in 'The Ultimate Foundation of Economic Science'.
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[Quote No.36007] Need Area: Mind > Learn
"Freedom really means the freedom to make mistakes [which give people first hand experience of life and hopefully helps them become wiser and able to make better choices in the future]." - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics.
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[Quote No.36008] Need Area: Mind > Learn
"[Without a free press how can anyone be free to fully consider the options in order to make an informed choice?] A free press can exist only where there is private control on the means of production [i.e. true free market capitalism with robust competition in the media space]." - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics.
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[Quote No.36064] Need Area: Mind > Learn
"History in the broadest sense of the term is the totality of human experience. Historical knowledge is indispensable for those who want to build a better world... [because] There is no such thing as a nonhistorical analysis of the present state of affairs... History should teach us to recognize causes and to understand driving forces... History looks backward into the past, but the lesson[s] it teaches concerns things to come [and if we don't make the effort to learn from the past then we will be doomed to repeat the past mistakes/lessons until we do]... [However] The mere fact that an event happened in a distant country and a remote age does not in itself prove that it has [a bearing or has] no bearing on the present [that is up to us to study and determine]... [Also] History can tell us what happened in the past. But it cannot assert that it must happen again in the future. [As Samuel Clemens, under his pen-name Mark Twain, said, ‘History does not repeat, but it does rhyme.’] ...[Because] History speaks only to those people who know how to interpret it [it behooves us to learn how to interpret it, remembering all along that]... A historian’s achievement consists in presenting the past in a new perspective of understanding... [but precisely because it is the subjective selection and interpretation of another human, we must be cautious and sceptical as] It is a fact that hardly any historian has fully avoided passing judgments of value... [Also] Neither as judges allotting praise and blame nor as avengers seeking out the guilty should we face the past. We seek truth, not guilt; we want to know how things came about to understand them, not to issue condemnations... It is not the task of history to gratify the need of the masses for heroes and scapegoats... It is not the task of history to project the hatred and disagreements of the present back into the past and to draw from battles fought long ago weapons for the disputes of ones own time." - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics.
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[Quote No.36107] Need Area: Mind > Learn
"Ideas live longer than walls and other material artefacts." - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics.
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[Quote No.36108] Need Area: Mind > Learn
"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
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics.
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[Quote No.36109] Need Area: Mind > Learn
"The ideas that change the intellectual climate of a given environment are those unheard of before. For these new ideas there is no other explanation than that there was a man [or woman] from whose mind they originated... no new ideas spring from the mythical mind of the masses... One cannot organize or institutionalize the emergence of new ideas." - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics.
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[Quote No.36115] Need Area: Mind > Learn
"That a fact is deemed true by the majority does not prove its truth!" - Ludwig von Mises

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[Quote No.40581] Need Area: Mind > Learn
"Experience is a mental act on the part of thinking and acting men [and women]...Experience tells us something we did not know before and could not learn but for having had the experience...New experience can force us to discard or modify inferences we have drawn from previous experience." - Ludwig von Mises

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[Quote No.40963] Need Area: Mind > Learn
"Man can never become omniscient. He can never be absolutely certain that his inquiries were not misled and that what he considers as certain truth is not error. All that man can do is to submit all his theories again and again to the most critical re-examination." - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics. Refer the website [ mises.org ].
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[Quote No.41027] Need Area: Mind > Learn
"Man [who has throughout history painfully learned the critical need to value facts and freedom above all else as inalienable human rights and therefore refuses to resort to fraud and force] has only one tool to fight error: [imaginative] reason... [Combined with imagination] Logic is for man the only means to master the problems of reality... What mankind needs today is liberation from the rule of nonsensical slogans and a return to sound [imaginative] reasoning... [Combined with imagination] Reason is the main resource of man in his struggle for survival. " - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics. Refer the website [ mises.org ].
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[Quote No.41042] Need Area: Mind > Learn
"Science does not give us absolute and final certainty. It only gives us assurance within the limits of our mental abilities and the prevailing state of scientific thought. A scientific system is but one station in an endlessly progressing search for knowledge." - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics. Refer the website [ mises.org ].
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[Quote No.41043] Need Area: Mind > Learn
"Science is universally human, and not limited by nationality, bound to a particular time, or contingent upon any social class." - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics. Refer the website [ mises.org ].
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[Quote No.41078] Need Area: Mind > Learn
"Truth has its own way. It works and produces effects even if [religious, ideological or political] party programs and textbooks refuse to acknowledge it as truth... the criterion of truth is that it works even if nobody is prepared to acknowledge it... At least one of the characteristic marks of a true theory is that action based on it succeeds in attaining the expected result. In this sense, truth works while untruth does not work... Truth refers to what is or was, not to a state of affairs that is not or was not but would suit the wishes of the truth-seeker better." - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics. Refer the website [ mises.org ].
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[Quote No.60877] Need Area: Mind > Learn
"[Freedom of thought, speech, expression and press versus censorship and propaganda:] Liberty is meaningless if it is only the liberty to agree with those in power. " - Ludwig von Mises

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[Quote No.35950] Need Area: Mind > Imagine
"Experience is a mental act on the part of thinking and acting men [and women]... Experience tells us something we did not know before and could not learn but for having had the experience... New experience can force us to discard or modify inferences we have drawn from previous experience." - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics.
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[Quote No.35849] Need Area: Mind > Plan
"Man's striving after an improvement of the conditions of his existence impels him to action. Action requires planning and the decision which of various plans is the most advantageous." - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics.
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[Quote No.35953] Need Area: Mind > Plan
"There always remains an orbit that to the limited knowledge of man appears as an orbit of pure chance and marks life as a gamble. Man and his works are always exposed to the impact of unforeseen and uncontrollable events." - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics.
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[Quote No.41062] Need Area: Mind > Plan
"Every action is a speculation, i.e., guided by a definite opinion concerning the uncertain conditions of the future." - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics. Refer the website [ mises.org ].
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[Quote No.35845] Need Area: Mind > Focus
"Human life is an unceasing sequence of single actions." - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics.
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[Quote No.41074] Need Area: Mind > Focus
"Man is subject to the passing of time. He comes into existence, grows, becomes old, and passes away. His time is scarce. He must economize [and prioritize] it as he economizes [and prioritizes] other scarce factors." - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics. Refer the website [ mises.org ].
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[Quote No.47718] Need Area: Mind > Focus
"[Humanity is born free. Mankind has free will.] Man is not, like the animals, an obsequious puppet of instincts and sensual impulses. Man has the power to suppress instinctive desires, he has a will of his own, he chooses between incompatible ends... While all other animals are unconditionally driven by the impulse to preserve their own lives and by the impulse of proliferation, man has the power to master even these impulses. He can control both his sexual desires and his will to live. He can give up his life when the conditions under which alone he could preserve it seem intolerable. Man is capable of dying for a cause or of committing suicide. To live is for man the outcome of a choice, of a judgment of value!" - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics.
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[Quote No.35852] Need Area: Mind > Persist
"How one carries on in the face of unavoidable catastrophe is a matter of temperament [overlaid by learning and choice]. In high school, as was custom, I had chosen a verse by Virgil to be my motto: 'Tu ne cede malis sed contra audentior ito'. Do not give in to evil, but proceed ever more boldly against it. I recalled these words during the darkest hours of the war. Again and again I had met with situations from which rational deliberation found no means of escape; but then the unexpected intervened, and with it came salvation. " - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics.
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[Quote No.35912] Need Area: Mind > Evolve
"It is man's innate nature that he seeks to preserve and to strengthen his life, that he is discontented and aims at removing uneasiness, that he is in search of what may be called happiness." - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics.
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[Quote No.35835] Need Area: Mind > Progress
"Experience tells us something we did not know before and could not learn but for having had the experience!" - Ludwig von Mises
in 'The Ultimate Foundation of Economic Science'.
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[Quote No.35888] Need Area: Mind > General
"[Humanity is born free. Mankind has free will.] Man is not, like the animals, an obsequious puppet of instincts and sensual impulses. Man has the power to suppress instinctive desires, he has a will of his own, he chooses between incompatible ends... While all other animals are unconditionally driven by the impulse to preserve their own lives and by the impulse of proliferation, man has the power to master even these impulses. He can control both his sexual desires and his will to live. He can give up his life when the conditions under which alone he could preserve it seem intolerable. Man is capable of dying for a cause or of committing suicide. To live is for man the outcome of a choice, of a judgment of value." - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics.
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[Quote No.36063] Need Area: Mind > General
"A man's efficiency is not merely the result of his physical condition; it depends largely on his mind and will." - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics.
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[Quote No.35911] Need Area: Body > General
"Man lives in the shadow of death. Whatever he may have achieved in the course of his pilgrimage, he must one day pass away and abandon all that he has built. Each instant can become his last. There is only one thing that is certain about the individual's future — death." - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics.
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[Quote No.40964] Need Area: Money > Income
"Wages are not paid [ideally] for labor expended, but for the achievements of labor, which differ widely in quality and quantity. " - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics. Refer the website [ mises.org ].
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[Quote No.40972] Need Area: Money > Income
"The only means to increase a nation’s [company’s or individual’s] welfare is to increase and to improve the output of products [productivity]...[and thereby] accelerate the increase in capital accumulated as against population [savings per capita]." - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics. Refer the website [ mises.org ].
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[Quote No.41035] Need Area: Money > Income
"It is untrue that some are poor because others are rich. If an order of society in which incomes were equal replaced the capitalist order, everyone would become poorer [as those capable of serving more and better would have no incentive to work harder and take on more risk]." - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics. Refer the website [ mises.org ].
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[Quote No.41051] Need Area: Money > Income
"To assign to everybody his proper place in society is the task of the consumers. Their buying and abstention from buying is instrumental in determining each individual’s [contribution to society and therefore to a large degree their wealth and] social position!" - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics. Refer the website [ mises.org ].
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[Quote No.41053] Need Area: Money > Income
"Modern man has always before his eyes the possibility of growing rich by work and enterprise. In the more rigid economy of the past this was less easy. People were rich or poor from birth, and remained so through their lives unless they were given a change of position through some unforeseen accident." - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics. Refer the website [ mises.org ].
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[Quote No.41056] Need Area: Money > Income
"In the bureaucratic machine of socialism [rather than in the ‘consumer as king’ capitalism] the way toward promotion [and improved income] is not achievement [by service to the consumer] but by the favor of the superiors [which explains why service in socialism has always been inferior to that in capitalism and corruption so widespread]. " - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics. Refer the website [ mises.org ].
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[Quote No.41083] Need Area: Money > Income
"On a free labor market, wage rates tend toward a height at which all employers ready to pay these rates can find all the men [and women] they need and all the workers ready to work for this rate can find jobs. There prevails a tendency toward full employment... The result of the governments and the unions meddling with the height of wage rates cannot be anything else than an incessant increase in the number of unemployed [in other areas of the economy or economy wide. If a general wage increase occurs without a corresponding equivalent or better improvement in productivity then inflation rises putting the cost of the wage rise on consumers, especially the retired and others on fixed incomes, or if prices remain the same then business profit margins fall and therefore shareholders lose the equivalent value. It is a zero sum game unless productivity improves. As the Nobel Prize winning economist, Milton Friedman said, 'There's no such thing as a free lunch.' This is often referred to as the unseen, 'unintended consequences' of well-intentioned or often politically motivated government or union intervention.]" - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics. Refer the website [ mises.org ].
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[Quote No.41087] Need Area: Money > Income
"[The lack of opportunity for individuals to make a contribution to servicing the needs of society and earning their own income is damaging to the individual and potentially to society.] Permanent mass unemployment destroys the moral foundations of the social order. The young people, who, having finished their training for work, are forced to remain idle, are the ferment out of which the most radical political movements are formed. In their ranks the soldiers of the coming revolutions are recruited. " - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics. Refer the website [ mises.org ].
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[Quote No.41088] Need Area: Money > Income
"[The lack of opportunity for individuals to make a contribution to servicing the needs of society and earning their own income is damaging to the individual and potentially to society.] If what is involved is a case of unemployment springing from dynamic changes in the economy, then unemployment benefits only result in postponing the adjustment of the workers to the new conditions. [Retraining is the inevitable answer. The only decisions are should the retraining be on or off the job, how much should they be paid while retraining and who should pay – the individual - through borrowing that must repaid out of future earnings, society - through taxes or the employer-retrainer - out of their contribution to the profit of the company during and if necessary after training.]" - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics. Refer the website [ mises.org ].
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[Quote No.41090] Need Area: Money > Income
"The only means to raise wage rates permanently for all those eager to earn wages is to raise the productivity of labor by increasing the per-head quota of capital invested and improving the methods of production... There is but one way toward an increase of real wage rates for all those eager to earn wages: the progressive accumulation of new capital and the improvement of technical methods of production which the new capital brings about. The true interests of labor coincide with those of business... The better the tools are which the worker uses in his job, the more he can perform in an hour, the higher is, consequently, his remuneration... The buyers do not pay for the toil and trouble the worker took nor for the length of time he spent in working. They pay for the products... The height of wage rates is determined by the consumers appraisal of the value the workers labor adds to the value of the article available for sale... Like other factors of production, labor is also valued according to its usefulness in satisfying human wants… In the long run the worker can never get more than the consumer allows... [The customer is really the employer, not the owner of the business, the capitalist.] It is not the Hollywood film corporation that pays the wages of a movie star; it is the people who pay admission to the movies. And it is not the entrepreneurs of a boxing match who pay the enormous demands of the prize fighters; it is the people who pay admission to the fight." - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics. Refer the website [ mises.org ].
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[Quote No.41093] Need Area: Money > Income
"Minimum wage rates [irrespective of return on equity, profit contribution and productivity gains], whether decreed and enforced by the government or by labor union pressure and violence, result in mass unemployment [as many businesses therefore become unable to compete with imports or provide sufficient profit to compensate the owners for the risks and opportunity costs and are either closed down or moved to other nations where the wage costs are lower, often due to lower costs of living, taxes, regulations, safety standards, etc. The products are then provided to the community by importation alone. This may in fact be the best overall outcome for the society as a whole as economic analysis shows - refer the theory of national comparative advantage, free trade, protectionism - but the cost to the individual workers can be massive, especially if a whole industry becomes unviable and the workers need to be retrained in another field to find employment.]" - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics. Refer the website [ mises.org ].
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[Quote No.41118] Need Area: Money > Income
"In capitalist enterprise there is no secure income and no security of wealth." - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics. Refer the website [ mises.org ].
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[Quote No.41120] Need Area: Money > Income
"The masses, in their capacity as consumers, ultimately determine everybody’s revenues and wealth [usually in proportion to their contribution of knowledge, skill, effort, time and capital at risk]!" - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics. Refer the website [ mises.org ].
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[Quote No.41124] Need Area: Money > Income
"All almsgiving [charity or welfare without some corresponding effort or contribution of service to earn it in some way] inevitably tends to pauperize the recipient [by reducing their incentive and capacity to provide for themselves. For example, beyond a bare minimum required to survive, the more fish someone is given the more their motivation for and skill at fishing deteriorates, along with their self-esteem and their respect from those around them that work]." - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics. Refer the website [ mises.org ].
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[Quote No.41129] Need Area: Money > Income
"In the market economy the worker sells his services as other people sell their commodities. The employer is not the employee’s lord. He is simply the buyer of services which he must purchase at their market price… The laborer is an entrepreneur in so far as his wages are determined by the price the market allows for the kind of work he can perform. This price varies according to the change in conditions in the same way in which the price of every other factor of production varies… Everybody is eager to charge for his services and accomplishments as much as the traffic can bear. In this regard there is no difference between the workers, whether unionized or not, the ministers and teachers on the one hand and the entrepreneurs on the other hand. Neither of them has the right to talk as if he were Francis d’Assisi!" - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics. Refer the website [ mises.org ].
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[Quote No.35915] Need Area: Money > Tax
"When the government spends more, the public spends less. Public works are not accomplished by the miraculous power of a magic wand. They are paid for by funds taken away from the citizens." - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics.
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[Quote No.35933] Need Area: Money > Tax
"[Almost] Nobody seems to doubt that to prevent some people from acquiring [or keeping] riches [through vilification, encouraging class ‘warfare’, weak private property laws, exorbitant taxes, etc] is a [political] policy extremely beneficial for the rest of society. [But is it? What great contributions to the well-being of that society will not be made as the rewards won’t outweigh the risks? Won't those contributions be made, by those individuals and companies or others, in other places where the circumstances are more conducive to risk taking?]" - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics.
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[Quote No.41073] Need Area: Money > Tax
"The essence of etatism [big, paternal, interventionist government] is to take from one group in order to give to another. The more it can take the more it can give. It is to the interest of those whom the government wishes to favor that their state become as large as possible… The system of discriminatory taxation universally accepted under the misleading name of progressive taxation of income and inheritance is not a mode of taxation. It is rather a mode of disguised expropriation [theft]… Nothing is more calculated to make a demagogue popular than a constantly reiterated demand for heavy taxes on the rich. Capital levies and high income taxes on the larger incomes are extraordinarily popular with the masses, who do not have to pay them." - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics. Refer the website [ mises.org ].
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[Quote No.41123] Need Area: Money > Tax
"An essential point in the social philosophy of [big, paternal government] interventionism is the existence of an inexhaustible fund [of a less powerful political minority] which can be squeezed [taxed] forever [regardless of their equal human rights, which are creatively negated, diminished and dismissed as obviously less important]. The whole system of interventionism collapses when this fountain is drained off: The Santa Claus principle liquidates itself. [Like Margaret Thatcher said, ‘The problem with socialism is that eventually you run out of other people’s money’ to confiscate and spend on buying the votes and political support of a favored segment of the society in order to stay in power.] " - Ludwig von Mises
[1881 – 1973], an Austrian-American economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School of economics. Refer the website [ mises.org ].
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[Quote No.41249] Need Area: Money > Tax
"The funds that a government spends for whatever purposes are levied by taxation. And taxes are paid because the taxpayers are afraid of offering resistance to the tax gatherers. They know that any disobedience or resistance is hopeless. As long as this is the state of affairs, the government is able to collect the money that it wants to spend. Government is in the last resort the employment of armed men, of policemen, gendarmes, soldiers, prison guards, and hangmen. The essential feature of government is the enforcement of its decrees... Those who are asking for more government interference [and therefore more taxes] are asking ultimately for more compulsion and less freedom." - Ludwig von Mises
Economist. From his book, 'Human Action', 1949.
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