Ludwig Von Mises Quotes

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Ludwig Von Mises Quote of the day

The market system is the basis of our civilization. Its only alternative is the Führer principle.

Ludwig von Mises

A society that chooses between capitalism and socialism does not choose between two social systems

it chooses between social cooperation and the disintegration of society.

Ludwig Von Mises Quotes: "The balance-of-payments theory forgets that the volume of foreign trade is completely dependent upon prices"

The balance-of-payments theory forgets that the volume of foreign trade is completely dependent upon prices

that neither exportation nor importation can occur if there are no differences in prices to make trade profitable.

Ludwig Von Mises Quotes: "Determinants of prices have their effect only through the medium of the subjective estimates of individuals"

Determinants of prices have their effect only through the medium of the subjective estimates of individuals

and the extent to which any given factor influences these subjective estimates can never be predicted.

Ludwig Von Mises Quotes: "By 'the objective exchange-value of money' we are accordingly to understand the possibility of obtaining a certain quantity of other economic goods in exchange for a given quantity of money"

By 'the objective exchange-value of money' we are accordingly to understand the possibility of obtaining a certain quantity of other economic goods in exchange for a given quantity of money

and by 'the price of money' this actual quantity of other goods.