A Quote by Ludwig von Mises
The prerequisite for more economic equality in the world is industrialization. And this is possible only through increased capital investment, increased capital accumulation.
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A tax on capital is self-defeating, in that it slows down capital accumulation, investment and economic growth.
A nation cannot prosper if its members are not fully aware of the fact that what alone can improve their condition s is more and better production. And this can only be brought about by increased saving and capital accumulation.
The mounting burden of taxation not only undermines individual incentives to increased work and earnings, but in a score of ways discourages capital accumulation and distorts, unbalances, and shrinks production.
Remember that accumulated knowledge, like accumulated capital, increases at compound interest: but it differs from the accumulation of capital in this; that the increase of knowledge produces a more rapid rate of progress, whilst the accumulation of capital leads to a lower rate of interest. Capital thus checks it own accumulation: knowledge thus accelerates its own advance. Each generation, therefore, to deserve comparison with its predecessor, is bound to add much more largely to the common stock than that which it immediately succeeds.
Digitally enabled supply chains initially increased efficiency and dramatically shortened lead times. Capital was mobile; labor, less so. Economic activity (production, research, design, etc.) moved to any accessible country or region that had relatively inexpensive labor and human capital.
In a capitalist world, the word capital has taken on more and more uses. . . . human capital, for instance, which is what labor accumulates through education and work experience. Human capital differs from the classic kind in that you can't inherit it, and it can only be rented, not bought or sold.
Equality of economic opportunity, in the context of private property, means equality of opportunity for the millions of capital-less households of today to buy, pay for, and employ in their lives the non-human factor of production, capital.
As the prosperity of the nation and the height of wage rates depend on a continual increase in the capital invested in its plants, mines and farms, it is one of the foremost tasks of good government to remove all obstacles that hinder the accumulation and investment of new capital.
It is investment, i.e. the increased production of material wealth in the shape of capital goods, which alone increases national wealth.
More and more people are becoming aware that government has nothing to give them without first taking it away from somebody else-or from themselves. Increased handouts to selected groups mean merely increased taxes, or increased deficits and increased inflation.
I like most of the venture capitalists I know; they're smart, well-intended guys who genuinely enjoy helping entrepreneurs succeed. And I love venture capital and investment capital of all categories - its economic impact is proven. The more of it the better.
The tax on capital gains directly affects investment decisions, the mobility and flow of risk capital from static to more dynamic situations, the ease or difficulty experienced by new ventures in obtaining capital, and thereby the strength and potential for growth of the economy.
Man is still by instinct a predatory animal given to devilish aggression. The discoveries of science have immensely increased productivity of material things. They have increased the standards of living and comfort. They have eliminated infinite drudgery. They have increased leisure. But that gives more time for devilment. The work of science has eliminated much disease and suffering. It has increased the length of life. That, together with increase in productivity, has resulted in vastly increased populations. Also it increased the number of people engaged in devilment.
It seems to me self-evident that we cannot have capitalism without capital and, very importantly, that the ultimate source of all economic capital is Nature's capital
Empowering innovations require long-term investments, which tie up capital for years and years. So companies are using capital to create more capital, and consequently, the world is awash in capital, but the innovations we need to advance aren't there.
The tax on capital gains directly affects investment decisions, the mobility and flow of risk capital... the ease or difficulty experienced by new ventures in obtaining capital, and thereby the strength and potential for growth in the economy.
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