The essence of Keynesianism is its complete failure to conceive the role that saving and capital accumulation play in the improvement of economic conditions.
Ludwig von MisesGovernment force is derived from the sum of the physical force each citizen could exert which by one citizen himself would be ineffective, but when summed from the force of all the area's citizens indeed composes a power no citizen or group can withstand. That force is then rightly but justly to be used against those who violate the foundation pillars of freedom.
Ludwig von MisesEvery specific tax, as well as the nation's whole tax system, becomes self-defeating above a certain height of the rates.
Ludwig von MisesIf the members of parliament no longer consider themselves mandatories of the taxpayers but deputies of those receiving salaries, wages, subsidies, doles, and other benefits from the treasury, democracy is done for.
Ludwig von MisesCapitalism means free enterprise, sovereignty of the consumers in economic matters, and sovereignty of the voters in political matters. Socialism means full government control of every sphere of the individuals life and the unrestricted supremacy of the government in its capacity as central board of production management.
Ludwig von MisesIf history could prove and teach us anything, it would be the private ownership of the means of production as a necessary requisite of civilization and material well-being. All civilizations have up to now been based on private property. Only nations committed to the principle of private property have risen above penury and produced science, art, and literature. There is no experience to show that any other social system could provide mankind with any of the achievements of civilization.
Ludwig von Mises