Ludwig von Mises Quotes (Author of Human Action)

“Those who confuse entrepreneurship and management close their eyes to the economic problem…. The capitalist system is not a managerial system; it is an entrepreneurial system.” —Ludwig von Mises

It is the work of capital, labor, and natural resources, driven by the creative individual mind, which undergird the achievements of our civilization. Whether or not you agree with all of Rand’s political views, she is correct in her stance that we must not take the existence of wealth for granted.

The fatal flaw of socialism that Mises exposed was that without a price mechanism emerging on a free market, socialism would fail at economic calculation, most crucially in the allocation of capital goods

A few examples include: Greed is good. Maximizing pleasure from consumption is the goal. A billion acts of selfishness will lead to a prosperous society. The social duty of business is just to maximize its profits. There’s no such thing as society, only individuals—that was Margaret Thatcher’s famous quote. Markets are efficient; other institutions