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"Under certain conditions, index numbers may do very useful service as an aid to investigation into the history and statistics of prices; for the extension of the theory of the nature and value of money they are unfortunately not very important."
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"Every problem has one immediate cause, many remote causes, long term and short term effects."
"Just because your soul is being torn to pieces doesn't mean that you stop analyzing the phenomena."
"All statistics have outliers."
"It is necessary to approach the study of the issue from all sides to find as much information as possible on this issue."
"A social critic is someone whose work revolves around where and how our successes are failing us."
"With automobile accidents, mechanical failure is seldom the cause; and most often, operator error. I find the same to be true with corporate failings.. the people are rarely the issue. the shortcoming is most often found in the leadership."
"Liz paced and talked like it was just another test. Another challenge. She was looking at it like an exercise in probability - cause and effect. It's the physics of human nature, and to truly understand it, one has to be objective and cool."
"The sacred texts of human history from all over the world, can never be perceived by the rational mind as texts of historical accuracy. They can only be a glaring representation of the traditions and ideals of the people. Now, it is up to the rational mind, to analyze those texts and thereafter consume the good elements from them, while discarding the rest."
"Every relationship is a cost benefit calculation, either it is material or spiritual."
Explore more quotes by Ludwig von Mises
"When, thirty-five years ago, I tried to give a summary of the ideas and principles of that social philosophy that was once known under the name of liberalism, I did not indulge in the vain hope that my account would prevent the impending catastrophes to which the policies adopted by the European nations were manifestly leading. All I wanted to achieve was to offer to the small minority of thoughtful people an opportunity to learn something about the aims of classical liberalism and its achievements and thus to pave the way for a resurrection of the spirit of freedom after the coming debacle."
"Romanticism is man's revolt against reason, as well as against the condition under which nature has compelled him to live."
"The jurist is totally unacquainted with the problem of the value of money; he knows nothing of fluctuations in its exchange-value. The naive popular belief in the stability of the value of money has been admitted, with all its obscurity, into the law, and no great historical cause of large and sudden variations in the value of money has ever provided."
"Any intervention, such as that of the German Reichsbank in the Spring of 1923, in which only a small part of the increasing note-expansion was recovered by the banks through the sale of foreign bills, would necessarily be unsuccessful. Led by the idea of opposing speculation, inflationistic governments have allowed themselves to become involved in measures whose meaning is hardly intelligible. Thus at one time the importation of notes, then their exportation, then again both their exportation and importation, have been prohibited. Exporters have been forbidden to sell for their own country's notes, importers to buy with them."
"History likewise shows that sometimes the 'monetary standard of the victors' can prove to be very bad. There have seldom been more brilliant victories than those eventually achieved by the American insurgents under Washington against the English troops. But the American 'continental" dollar did not benefit from them. The more proudly the star-spangled banner rose on high, the lower did the exchange-rate fall, until, at the very moment when the victory of the rebels was secured, the dollar became entirely valueless. The course of events was no different not long afterwards in France. In spite of the victories of the revolutionary army, the metal premium rose."
"If one prevents a man from working for the good of society while at the same time providing for the satisfaction of his own needs, then only one way remains open to him: to make himself richer and others poorer by the violent oppression and spoliation of his fellow men."
"Men are fighting... because they are convinced that the extermination of adversaries is the only means of promoting their own well-being."
"All varieties of the producers' policy are advocated on the ground of their alleged ability to raise the party members' standard of living. Protectionism and economic self-sufficiency, labor union pressure and compulsion, labor legislation, minimum wage rates, public spending, credit expansion, subsidies, and other makeshifts are always recommended by their advocates as the most suitable or the only means to increase the real income of the people for whose votes they canvass. Every contemporary statesman or politician invariably tells his voters: My program will make you as affluent as conditions may permit, while my adversaries' program will bring you want and misery."
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