Government is the only institution that can take a valuable commodity like paper, and make it worthless by applying ink.

Ludwig von Mises

Economists

Ludwig von Mises

Born in Lemberg 1881, Mises systematized Austrian economics through praxeology. His socialist calculation argument proved central planning cannot allocate rationally. Via Hayek and Rothbard, he shaped libertarianism.

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Ludwig von Mises's Other Quotes

Economics deals with society's fundamental problems; it concerns everyone and belongs to all. It is the main and proper study of every citizen.

The worst evils which mankind has ever had to endure were inflicted by bad governments.

Human action is purposeful behavior.

Related Quotes

Inflation is always and everywhere a monetary phenomenon.

-- Milton Friedman

Nothing is so permanent as a temporary government program.

-- Milton Friedman

The worst evils which mankind has ever had to endure were inflicted by bad governments.

-- Ludwig von Mises