Austrian School Of Economics Quotes

Society has arisen out of the works of peace; the essence of society is peacemaking. Peace and not war is the father of all things. Only economic action has created the wealth around us; labor, not the profession of arms, brings happiness. Peace builds, war destroys.

Ludwig von Mises

For anyone who thinks "profit" is evil, I have a challenge for you: try NOT to get any profit in the next week. Profit simply means increasing how much valuable stuff you have, and if you don't profit, you die. Literally. For example, don't buy any food for a week, because when you buy food (or anything), it's because you value the food MORE than you value the money you trade for it. If you didn't, you wouldn't make the trade. So you PROFIT (and so does the seller) every time you buy something. And every time you sell something, or work for money, etc. So before condemning "profit" (or "greed" or "selfishness," for that matter), see if you can survive without it. Then stop repeating vague collectivist BS, and learn to distinguish between "win/win" events (voluntary exchange) where BOTH sides profit, and "win/lose" events, where one side benefits by harming the other side. By the way, "government" is ALWAYS the latter.

Larken Rose

Taxation is the price we pay for failing to build a civilized society. The higher the tax level, the greater the failure. A centrally planned totalitarian state represents a complete defeat for the civilized world, while a totally voluntary society represents its ultimate success.

Mark Skousen

In regard to the so-called social contract, I have often had occasion to protest that I haven't even seen the contract, much less been asked to consent to it. A valid contract requires voluntary offer, acceptance, and consideration. I've never received an offer from my rulers, so I certainly have not accepted one; and rather than consideration, I have received nothing but contempt from the rulers, who, notwithstanding the absence of any agreement, have indubitably threatened me with grave harm in the event that I fail to comply with their edicts.

Robert Higgs

Trade and money, which go together in a stream of energy, inevitably wash away the enclosing walls of a society of status.

Isabel Paterson

Can social progress be made without government?It's like saying 'can happiness be achieved without the initiation of violence? Can romance be achieved without rape? Can profitability be achieved without theft? Can economic growth be achieved without the mass indebted enslavement and counterfeiting of the federal reserve?'.

Stefan Molyneux

The welfare of a people lies not in casting other peoples down but in peaceful collaboration.

Ludwig von Mises

I don't want the technology of the 1950s, but I want the free market of the 1950s.

Peter D. Schiff

It is in war that the State really comes into its own: swelling in power, in number, in pride, in absolute dominion over the economy and the society.

Murray N. Rothbard

The safest way to make laws respected is to make them respectable.

Frédéric Bastiat

The State obtains its revenue by coercion, by threatening dire penalties should the income not be forthcoming. That coercion is known as “taxation,” although in less regularized epochs it was often known as “tribute.” Taxation is theft, purely and simply even though it is theft on a grand and colossal scale which no acknowledged criminals could hope to match. It is a compulsory seizure of the property of the State’s inhabitants, or subjects.

Murray N. Rothbard

A government is a compulsory territorial monopolist of ultimate decision-making (jurisdiction) and, implied in this, a compulsory territorial monopolist of taxation. That is, a government is the ultimate arbiter, for the inhabitants of a given territory, regarding what is just and what is not, and it can determine unilaterally, i.e., without requiring the consent of those seeking justice or arbitration, the price that justice-seekers must pay to the government for providing this service.

Hans-Hermann Hoppe

Have you ever noticed how statists are constantly “reforming” their own handiwork? Education reform. Health-care reform. Welfare reform. Tax reform. The very fact they’re always busy “reforming” is an implicit admission that they didn’t get it right the first 50 times.

Lawrence W. Reed

He who is unfit to serve his fellow citizens wants to rule them.

Ludwig von Mises

War has been the necessary and inevitable consequence of the establishment of a monopoly on security.

Gustave de Molinari

Freedom is the foundation for all wonderful things in life.

Jeffrey Tucker

The phenomenon of economic ignorance is so widespread, and its consequences so frightening, that the objective of reducing that ignorance becomes a goal invested with independent moral worth.

Israel M. Kirzner

Ultimately, we need to take control over the money supply out of the hands of our governments and make the production of money again subject to the principle of free association. The first step to endorsing and promoting this strategy is to realize that governments do not—indeed cannot—fulfill any positive role whatever through the control of our money.

Jörg Guido Hülsmann

The disdain of profit is due to ignorance, and to an attitude that we may if we wish admire in the ascetic who has chosen to be content with a small share of the riches of this world, but which, when actualised in the form of restrictions on profits of others, is selfish to the extent that it imposes asceticism, and indeed deprivations of all sorts, on others.

Friedrich A. Hayek

The valuations which result in determination of definite prices are different. Each party attaches a higher value to the good he receives than to that he gives away. The exchange ratio, the price, is not the product of equality of valuation, but on the contrary, the product of a discrepancy in valuation.

Ludwig von Mises

Emergencies” have always been the pretext on which the safeguards of individual liberty have eroded.

Friedrich A. Hayek

Freedom is indivisible. As soon as one starts to restrict it, one enters upon a decline on which it is difficult to stop.

Ludwig von Mises

In spite of its alluring name, the welfare state stands or falls by compulsion. It is compulsion imposed upon us with the state’s power to punish noncompliance. Once this is clear, it is equally clear that the welfare state is an evil the same as every restriction of freedom.

Wilhelm Röpke

Liberty should be understood as freedom from the government, specifically, freedom from the initiation of physical force by the government.

George Reisman

Government is a gang, but not merely as meritorious as a private gang because it claims legal legitimacy. It pillages and uses violence but under the cover of law, and seeks legitimacy not through competition but through the myth of the social contract.

Jeffrey Tucker

The government enforces a monopoly over the production and distribution of its alleged 'services' and brings violence to bear against would-be competitors. In so doing, it reveals the fraud at the heart of its impudent claims and gives sufficient proof that it is not a genuine protector, but a mere protection racket.

Robert Higgs

Money is not an invention of the state. It is not the product of a legislative act. Even the sanction of political authority is not necessary for its existence. Certain commodities came to be money quite naturally, as the result of economic relationships that were independent of the power of the state.

Carl Menger

Nowadays the job of the judge is not to do justice. The judge is more of a functionary . He's like a civil servant whose job is to interpret words written down by another branch of the government, whether those words are just or not.

Stephan Kinsella

Here's something I still can't get over. Amazes and thrills me every time. I'm sitting here and want a certain book. So I search, click, and then I have the book. Every time, my heart does a little leap of joy. What a beautiful world the market is making.

Jeffrey Tucker

Government programs didn’t arise because the people demanded them or because the free market was unable to provide needed services. They arose because the politicians found them to be a convenient way to buy votes with other people’s money, a convenient way to enlarge their own power, a convenient way to reward their political cronies, and a convenient way to keep people dependent on government.

Harry Browne

The free market punishes irresponsibility. Government rewards it.

Harry Browne

The profit of the one is the profit of the other.

Frédéric Bastiat

What is a price? It is a proposed point of agreement between a buyer and seller. The proposal is the key. It is not a marching order. Past prices represent deals done in history. Current prices represent possible deals in the future. Prices embed vast information about perceived realities: resource availability, consumer demand, cultural biases and habits, speculations about the future. The price is also an amazing tool. It provides an objective basis for accounting and the assessment of profit and loss. Without prices, real prices rooted in real market experience, we’d been lost.

Jeffrey Tucker

To try to cure unemployment by inflation rather than by adjustment of specific wage-rates is like trying to adjust the piano to the stool rather than the stool to the piano.

Henry Hazlitt

If any of the socialist chiefs had tried to earn his living by selling hot dogs, he would have learned something about the sovereignty of the consumers.

Ludwig von Mises

Taxation is theft, purely and simply even though it is theft on a grand and colossal scale which no acknowledged criminals could hope to match. It is a compulsory seizure of the property of the State’s inhabitants, or subjects.

Murray N. Rothbard

July 4, the day we celebrate giving our political masters independence from conscience, morality, consequences for evil doing, and basic social and economic reality.The fireworks are the glowing tears of your children's incinerated futures.Cheer happy slaves - your only chains are your deluded joys. Cheer and sing, because for you, songs of death are easier than questions of life.

Stefan Molyneux

The military state is the final form to which every planned economy tends rapidly.

Isabel Paterson

No people and no part of a people shall be held against its will in a political association that it does not want.

Ludwig von Mises

It is because freedom means the renunciation of direct control of individual efforts that a free society can make use of so much more knowledge than the mind of the wisest ruler could comprehend.

Friedrich A. Hayek

Income inequality has no necessary connection with poverty, the lack of material resources for a decent life, such as adequate food, shelter, and clothing. A society with great income inequality may have no poor people, and a society with no income inequality may have nothing but poor people.

Robert Higgs

The desire for an increase of wealth can be satisfied through exchange, which is the only method possible in a capitalist economy, or by violence and petition as in a militarist society, where the strong acquire by force, the weak by petitioning.

Ludwig von Mises

The demoralization that the debasement of the currency left in its wake played a major role in bringing Adolf Hitler into power in 1933.

Henry Hazlitt

No man can rightfully be required to join, or support, an association whose protection he does not desire.

Lysander Spooner

I wonder how many such men in America would know that Communism, the New Deal, Fascism, Nazism, are merely so-many trade-names for collectivist Statism, like the trade-names for tooth-pastes which are all exactly alike except for the flavouring.

Albert Jay Nock

In proportion as you give the state power to do things for you, you give it power to do things to you.

Albert Jay Nock

Here is a principle to use in all aspects of economics and policy. When you find a good or service that is in huge demand but the supply is so limited to the point that the price goes up and up, look for the regulation that is causing it. This applies regardless of the sector, whether transportation, gas, education, food, beer, or daycare. There is something in the way that is preventing the market from working as it should. If you look carefully enough, you will find the hand of the state making the mess in question.

Jeffrey Tucker

In the same way that central banking nearly wrecked the world and created one calamity after another, bitcoin can save the world one transaction at a time.It is time for a new beginning.

Jeffrey Tucker

It's not an endlessly expanding list of rights — the 'right' to education, the 'right' to health care, the 'right' to food and housing. That's not freedom, that's dependency. Those aren't rights, those are the rations of slavery — hay and a barn for human cattle.

Alexis de Tocqueville

What makes anyone think that government officials are even trying to protect us? A government is not analogous to a hired security guard. Governments do not come into existence as social service organizations or as private firms seeking to please consumers in a competitive market. Instead, they are born in conquest and nourished by plunder. They are, in short, well-armed gangs intent on organized crime. Yes, rulers have sometimes come to recognize the prudence of protecting the herd they are milking and even of improving its ‘infrastructure’ until the day they decide to slaughter the young bulls, but the idea that government officials seek to promote my interests or yours is little more than propaganda—unless, of course, you happen to belong to the class of privileged tax eaters who give significant support to the government and therefore receive in return a share of the loot.

Robert Higgs

While liberals are in favor of any sexual activity engaged in by two consenting adults, when these consenting adults engage in trade or exchange, the liberals step in to harass, cripple, restrict, or prohibit that trade. And yet both the consenting sexual activity and the trade are similar expressions of liberty in action.

Murray N. Rothbard

I define anarchist society as one where there is no legal possibility for coercive aggression against the person or property of any individual.

Murray N. Rothbard

Where there is commerce there is peace.

Jeffrey Tucker

There are two and only two ways that any economy can be organized. One is by freedom and voluntary choice—the way of the market. The other is by force and dictation—the way of the State.

Murray N. Rothbard

The very term ‘public utility’ … is an absurd one. Every good is useful ‘to the public,’ and almost every good … may be considered ‘necessary.’ Any designation of a few industries as ‘public utilities’ is completely arbitrary and unjustified.

Murray N. Rothbard

Libertarians make no exceptions to the golden rule and provide no moral loophole, no double standard, for government. That is, libertarians believe that murder is murder and does not become sanctified by reasons of state if committed by the government. We believe that theft is theft and does not become legitimated because organized robbers call their theft "taxation." We believe that enslavement is enslavement even if the institution committing that act calls it "conscription." In short, the key to libertarian theory is that it makes no exceptions in its universal ethic for government.

Murray N. Rothbard

In particular, the State has arrogated to itself a compulsory monopoly over police and military services, the provision of law, judicial decision-making, the mint and the power to create money, unused land ("the public domain"), streets and highways, rivers and coastal waters, and the means of delivering mail...the State relies on control of the levers of propaganda to persuade its subjects to obey or even exalt their rulers.

Murray N. Rothbard

Experience teaches effectually, but brutally. It makes us acquainted with all the effects of an action, by causing us to feel them; and we cannot fail to finish by knowing that fire burns, if we have burned ourselves. For this rough teacher, I should like, if possible, to substitute a more gentle one. I mean Foresight. For this purpose I shall examine the consequences of certain economical phenomena, by placing in opposition to each other those which are seen, and those which are not seen.

Frédéric Bastiat

Without anarchy, there would be chaos.

Jeffrey Tucker

The first people to get the new money are the counterfeiters, which they use to buy various goods and services. The second receivers of the new money are the retailers who sell those goods to the counterfeiters. And on and on the new money ripples out through the system, going from one pocket or till to another. As it does so, there is an immediate redistribution effect. For first the counterfeiters, then the retailers, etc. have new money and monetary income they use to bid up goods and services, increasing their demand and raising the prices of the goods that they purchase. But as prices of goods begin to rise in response to the higher quantity of money, those who haven't yet received the new money find the prices of the goods they buy have gone up, while their own selling prices or incomes have not risen. In short, the early receivers of the new money in this market chain of events gain at the expense of those who receive the money toward the end of the chain, and still worse losers are the people (e.g., those on fixed incomes such as annuities, interest, or pensions) who never receive the new money at all.

Murray N. Rothbard

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Austrian School Of Economics Quotes

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