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Image of the quote is loading... SaveSave The objective exchange-value of money which rules in the market to-day is derived from yesterday's under the influence of the subjective valuations of the individuals frequenting the market, just as yesterday's in its turn was derived under the influence of subjective valuations from the objective exchange-value possessed by the money the day before yesterday. If in this way we continually go farther and farther back we must eventually arrive at a point where we no longer find any component in the objectIve exchange-value of money that arises from valuations based on the function of money as a common medium of exchange; where the value of money is nothing other than the value of an object that is useful in some other way than as money. - Quote by Ludwig von Mises

The objective exchange-value of money which rules in the market to-day is derived from yesterday’s under the influence of the subjective valuations of the individuals frequenting the market, just as yesterday’s in its turn was derived under the influence of subjective valuations from the objective exchange-value possessed by the money the day before yesterday. If in this way we continually go farther and farther back we must eventually arrive at a point where we no longer find any component in the objectIve exchange-value of money that arises from valuations based on the function of money as a common medium of exchange; where the value of money is nothing other than the value of an object that is useful in some other way than as money.

Ludwig von Mises
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When, thirty-five years ago, I tried to give a summary of the ideas and principles of that social philosophy that was once known under the name of liberalism, I did not indulge in the vain hope that my account would prevent the impending catastrophes to which the policies adopted by the European nations were manifestly leading. All I wanted to achieve was to offer to the small minority of thoughtful people an opportunity to learn something about the aims of classical liberalism and its achievements and thus to pave the way for a resurrection of the spirit of freedom after the coming debacle.
Ludwig von Mises
At eighty-eight how do you feel when getting up in the morning? . . . Amazed!
Ludwig von Mises
More dangerous than bayonets and cannon are the weapons of the mind.
Ludwig von Mises
As regards the social apparatus of repression and coercion, the government, there cannot be any question of freedom. Government is essentially the negation of liberty. It is the recourse to violence or threat of violence in order to make all people obey the orders of the government, whether they like it or not. As far as the government’s jurisdiction extends, there is coercion, not freedom. Government is a necessary institution, the means to make the social system of cooperation work smoothly without being disturbed by violent acts on the part of gangsters whether of domestic or of foreign origin. Government is not, as some people like to say, a necessary evil; it is not an evil, but a means, the only means available to make peaceful human coexistence possible. But it is the opposite of liberty. It is beating, imprisoning, hanging. Whatever a government does it is ultimately supported by the actions of armed constables.
Ludwig von Mises
The champions of socialism call themselves progressives, but they recommend a system which is characterized by rigid observance of routine and by a resistance to every kind of improvement. They call themselves liberals, but they are intent upon abolishing liberty. They call themselves democrats, but they yearn for dictatorship. They call themselves revolutionaries, but they want to make the government omnipotent. They promise the blessings of the Garden of Eden, but they plan to transform the world into a gigantic post office. Every man but one a subordinate clerk in a bureau.
Ludwig von Mises
All Nazi champions insist again and again that Marxism and Bolshevism are the quintessence of the Jewish mind, and that it is the great historic mission of Nazism to root out this pest. It is true that this attitude did not prevent the German nationalists either from coöperating with the German communists in undermining the Weimar Republic, or from training their black guards in Russian artillery and aviation camps in the years 1923–1933, or— in the period from August, 1939, until June, 1941—from entering into a close political and military complicity with Soviet Russia. Nevertheless, public opinion supports the view that Nazism and Bolshevism are philosophies—Weltanschauungen—implacably opposed to each other.
Ludwig von Mises
The market system is the basis of our civilization. Its only alternative is the Führer principle.
Ludwig von Mises
Many who are self-taught far excel the doctors, masters, and bachelors of the most renowned universities.
Ludwig von Mises
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