The prerequisite for more economic equality in the world is industrialization. And this is possible only through increased capital investment, increased capital accumulation.
Ludwig von MisesThe socialist system, however, forbids this fundamental freedom to choose one's own career. Under socialist conditions, there is only one economic authority, and it has the right to determine all matters concerning production.
Ludwig von MisesCredit expansion is the governments' foremost tool in their struggle against the market economy. In their hands it is the magic wand designed to conjure away the scarcity of capital goods, to lower the rate of interest or to abolish it altogether, to finance lavish government spending, to expropriate the capitalists, to contrive everlasting booms, and to make everybody prosperous.
Ludwig von MisesThe concept of a 'just' or 'fair' price is devoid of any scientific meaning; it is a disguise for wishes, a striving for a state of affairs different from reality.
Ludwig von MisesThe [liberals] consider profits as objectionable. The very existence of profits is in their eyes a proof that wage rates could be raised without harm to anybody. They speak of profit without dealing with loss. Profit and loss are the instruments by means of which the consumers keep a tight rein on all business activities. A profitable enterprise tends to expand; an unprofitable one tends to shrink. The elimination of profit renders production rigid and abolishes the consumer's control.
Ludwig von MisesThe greater productivity of work under the division of labor is a unifying influence. It leads men to regard each other as comrades in a joint struggle for welfare, rather than as competitors in a struggle for existence. It makes friends out of enemies, peace out of war, society out of individuals.
Ludwig von Mises