A Quote by Ludwig von Mises

What economic calculation requires is a monetary system whose functioning is not sabotaged by government interference.

Ludwig von Mises

Quote Topics

Calculation Economic Government Interference Monetary Monetary System Requires System Whose

Quote Author

Ludwig von Mises
Austrian - Economist
September 29, 1881 - October 10, 1973

Creating a high-functioning education system requires all the strategies involved in building high-functioning organisations anywhere. It requires a deliberate and aggressive strategy to ensure extraordinary talent at every level of the system, from the superintendentcy to district offices to principalships to classrooms. It requires building systems for accountability; offering parents the ability to choose their public schools is the ultimate form of this. It requires building a strong culture at the system and school levels based on high expectations for student achievement.

Wendy Kopp

These people talk of a "middle-of-the-road" policy. What they do not see is that the isolated interference, which means the interference with only one small part of the economic system, brings about a situation which the government itself — and the people who are asking for government interference — find worse than the conditions they wish to abolish: the people who are asking for rent control are very angry when they discover there is a shortage of apartments and a shortage of housing.

Ludwig von Mises

We do not assert that the capitalist mode of economic calculation guarantees the absolutely best solution of the allocation of factors of production. Such absolutely perfect solutions of any problem are out of reach of mortal men. What the operation of a market not sabotaged by the interference of compulsion and coercion can bring about is merely the best solution accessible to the human mind under the given state of technological knowledge and the intellectual abilities of the age's shrewdest men.

Ludwig von Mises

Monetary calculation is not the calculation, and certainly not the measurement, of value. Its basis is the comparison of the more important and the less important. It is an ordering according to rank, an act of grading (Cuhel), and not an act of measuring. It was a mistake to search for a measure of the value of goods. In the last analysis, economic calculation does not rest on the measurement of values, but on their arrangement in an order of rank.

Ludwig von Mises

All of the government's monetary, economic and political power, as well as its extensive propaganda machinery, will be enlisted in a constant battle to drive down the price of gold - but in the absence of any fundamental change in the nation's monetary, fiscal, and economic direction, simply regard any major retreat in the price of gold as an unexpected buying opportunity.

Irwin Schiff

Without calculation, economic activity is impossible. Since under Socialism economic calculation is impossible, under Socialism there can be no economic activity in our sense of the word All economic change, therefore, would involve operations the value of which could neither be predicted beforehand nor ascertained after they had taken place. Everything would be a leap in the dark. Socialism is the renunciation of rational economy.

Ludwig von Mises

A private enterprise system needs some measuring rod, it needs something, it needs money to make its transactions. You can't run a big complicated system through barter, through converting one commodity into another. You need a monetary system to operate. And the instability in that monetary system is devastating to the performance of the economy.

Milton Friedman

The Great Depression was not a sign of the failure of monetary policy or a result of the failure of the market system as was widely interpreted. It was instead a consequence of a very serious government failure, in particular a failure in the monetary authorities to do what they'd initially been set up to do.

Milton Friedman

Freedom of religion requires not only freeing religion from undue government regulation and interference. It also requires freeing religion from discrimination and from vile acts of hatred and persecution.

William Barr

Government interference with the economic process represents a substitution of political for consumer objectives.

Sheldon Richman

If our system continues without modification involving environmental and social concern, we will face an economic and social breakdown of our outdated monetary and political system.

Jacque Fresco

Take Milton Friedman, he sits at his desk pontificating about such bunk as the monetary system being the answer to our problems. The monetary system is a legal contrivance. Property, not money, is real wealth. It's physical, not legal.

Louis O. Kelso

A just wage for the worker is the ultimate test of whether any economic system is functioning justly.

Pope John Paul II

We have gotten to the point where everything the government does is counterproductive; the conclusion, of course, is that the government should do nothing at all, that is, should retire quickly from the monetary and economic scene and allow freedom and free markets to work.

Murray Rothbard

A leader has to know how the system functions - not just the system of government but the whole social and economic system, including business, the unions, and the universities.