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"It is illogical to say, as many etatists do, that liberalism is hostile to or hates the state, because it is opposed to the transfer of the ownership of railroads or cotton mills to the state. If a man says that sulphuric acid does not make a good hand lotion, he is not expressing hostility to sulphuric acid as such; he is simply giving his opinion concerning the limitations of its use."
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"Be aware of this truth that the people on this earth could be joyous, if only they would live rationally and if they would contribute mutually to each others' welfare.This world is not a vale of sorrows if you will recognize discriminatingly what is truly excellent in it; and if you will avail yourself of it for mutual happiness and well-being. Therefore, let us explain as often as possible, and particularly at the departure of life, that we base our faith on firm foundations, on Truth for putting into action our ideas which do not depend on fables and ideas which Science has long ago proven to be false."
"Not everyone understands what a completely rational process this is, this maintenance of a motorcycle. They think it's some kind of 'knack' or some kind of 'affinity for machines' in operation. They are right, but the knack is almost purely a process of reason, and most of the troubles are caused by what old time radio men called a 'short between the earphones,' failures to use the head properly. A motorcycle functions entirely in accordance with the laws of reason, and a study of the art of motorcycle maintenance is really a miniature study of the art of rationality itself."
"If-Then" is a structured logic of humans' thought,who have memories and imagination in their mind. If both don't exist, Then this quote has never even been written."
"It is always easy to be logical. It is almost impossible to be logical to the bitter end."
"Logic is the art of non-contradictory identification. A contradiction cannot exist. No concept man forms is valid unless he integrates it without contradiction into the total sum of his knowledge. To arrive at a contradiction is to confess an error in one's thinking, to maintain a contradiction is to abdicate one's mind and to evict oneself from the realm of reality."
"Very little is needed for everything to be upset and ruined, only a slight lapse in reason."
Explore more quotes by Ludwig von Mises
"The root of the evil is not the construction of new, more dreadful weapons. It is the spirit of conquest."
"At one time, this gave rise to the question of whether the legal validity of the money was determined by the stamp of the ruler of the country or by the metal content of the coin; later, to the question of whether the command of the law or the free usage of business was to settle if the money was legal tender or not. The answer of public opinion, grounded on the principles of private property and the protection of acquired rights, ran the same in both cases: Prout quidque eontraetum est, ita et solvi debet; ut cum re eontraximus, re solvi debet, veluti cum mutuum dedimus, ut Tetro pecuniae tantundem solvi debeat."
"Hence, the statement that the cost of living is different in different localities only means that the same individual cannot secure the same degree of satisfaction from the same stock of goods in different places."
"The mistake in the argument of those who suppose that a variation in the quantity of money results in an inversely proportionate variation in its purchasing power lies in its starting-point. If we wish to arrive at a correct conclusion, we must start with the valuations of separate individuals; we must examine the way in which an increase or decrease in the quantity of money affects the value-scales of individuals, for it is from these alone that variations in the exchange-ratios of goods proceed."
"For hundreds, even thousands, of years, people completely failed to see that variations in the objective exchange-value of money could be induced by monetary factors. They tried to explain all variations of prices exclusively from the commodity side."
"The agents of etatism have certainly not been lacking in zeal and energy. But, for all this, economic affairs cannot be kept going by magistrates and policemen."
"That policy which aims at raising the objective exchange-value of money is called, after the most important means at its disposal, restrictionism or deflationism. This nomenclature does not really embrace all the policies that aim at an increase in the value of money. The aim of restrictionism may also be attained by not increasing the quantity of money when the demand for it increases, or by not increasing it enough. This method has quite often been adopted as a way of increasing the value of money in face of the problems of a depreciated credit-money standard."
"Paper money in time of war, the new notes will first go into the pockets of the war contractors. 'As a result, these persons' demands for certain articles will increase and so also the price and the sale of these articles, but especially in so far as they are luxury articles. Thus the position of the producers of these articles will be improved, their demand for other commodities will also increase, and thus the increase of prices and sales will go on, distributing itself over a constantly augmented number of articles, until at last it has reached them all."
"Money is not indefinitely divisible. Even with the assistance of money-substitutes for expressing fractional sums that for technical reasons cannot conveniently be expressed in the actual monetary material (a method that has been brought to perfection in the modern system of token coinage), it seems entirely impossible to provide commerce with every desired fraction of the monetary unit."
"It is the beginning of the 'demonetization' of the notes. The process is hastened by its panic-like character. It may be possible once, twice, perhaps even three or four times, to allay the fears of the public; but eventually the affair must run its course and then there is no longer any going back. Once the depreciation is proceeding so rapidly that sellers have to reckon with considerable losses even if they buy again as quickly as is possible, then the position of the currency is hopeless."
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