{"author":"Ludwig von Mises","author_id":"Ludwig+von+Mises","total_quotes":196,"quotes":[{"text":"The philosophy of protectionism is a philosophy of war.","author":"Ludwig von Mises","tags":["philosophy","protectionism "],"id":1045,"author_id":"Ludwig+von+Mises"},{"text":"But it must be observed that as the depreciation of money proceeds, the demand for money (I.E. For the kind of money in question) gradually begins to fall. When loss of wealth is suffered in proportion to the length of time money is kept on hand, endeavours are made to reduce cash holdings as much as possible. N ow if every individual, even if his circumstances are otherwise unchanged, no longer wishes to maintain his cash holding at the same level as before the beginning of the inflation, the demand for money in the whole community, which can only be the sum of the individuals' demands, decreases too. There is also the additional fact that as commerce gradually-begins to use foreign money and actual gold in place of notes, individuals begin to hold part of their reserves in foreign money and in gold and no longer in notes.","author":"Ludwig von Mises","tags":["capitalism","economics","freedom","money"],"id":3271,"author_id":"Ludwig+von+Mises"},{"text":"For when the Law of Price declares that a good actually commands a particular price, and explains why it does so, it of course implies that the good is able to command this price, and explains why it is able to do so. The Law of Price comprehends the Law of Exchange-Value.","author":"Ludwig von Mises","tags":["capitalism","economics","freedom","money"],"id":3789,"author_id":"Ludwig+von+Mises"},{"text":"He who cares to go to the trouble of demonstrating the uselessness of index numbers for monetary theory and the concrete tasks of monetary policy will be able to select a good proportion of his weapons from the writings of the very men who invented them.","author":"Ludwig von Mises","tags":["capitalism","economics","freedom","money"],"id":6893,"author_id":"Ludwig+von+Mises"},{"text":"Even if index numbers cannot fulfill the demands that theory has to make, they can still, in spite of their fundamental shortcomings and the inexactness of the methods by which they are actually determined, perform useful workaday services for the politician. If we have no other aim in view than the comparison of points of time that lie close to one another, then the errors that are involved in every method of calculating numbers may be so far ignored as to allow us to draw certain rough conclusions from them. Thus, for example, it becomes possible to a certain extent to span the temporal gap that lies, in a period of variation in the value of money, between movements of Stock Exchange rates and movements of the purchasing power that is expressed in the prices of commodities.","author":"Ludwig von Mises","tags":["capitalism","economics","freedom","money"],"id":7297,"author_id":"Ludwig+von+Mises"},{"text":"It is illogical to say, as many etatists do, that liberalism is hostile to or hates the state, because it is opposed to the transfer of the ownership of railroads or cotton mills to the state. If a man says that sulphuric acid does not make a good hand lotion, he is not expressing hostility to sulphuric acid as such; he is simply giving his opinion concerning the limitations of its use.","author":"Ludwig von Mises","tags":["classical-liberalism","economics","etatism","government","liberalism","libertarianism","state","statism"],"id":11703,"author_id":"Ludwig+von+Mises"},{"text":"The oldest and most popular instrument of etatistic monetary policy is the official fixing of maximum prices. High prices, thinks the etatist, are not a consequence of an increase in the quantity of money, but a consequence of reprehensible activity on the part of 'bulls' and 'profiteers'; it will suffice to suppress their machinations in order to ensure the cessation of the rise of prices. Thus it is made a punishable offence to demand, or even to pay, 'excessive' prices.","author":"Ludwig von Mises","tags":["capitalism","economics","freedom","money"],"id":15337,"author_id":"Ludwig+von+Mises"},{"text":"Big variations in the value of money give rise to the danger that commerce will emancipate itself from the money which is subject to State influence and choose a special money of its own. But without matters going so far as this it is still possible for all the consequences of variations in the value of money to be eliminated if the individuals engaged in economic activity clearly recognize that the purchasing power of money is constantly sinking and act accordingly. If in all business transactions they allow for what the objective exchange-value of money will probably be in the future, then all the effects on credit and commerce are finished with. In proportion as the Germans began to reckon in terms of gold, so was further depreciation rendered incapable of altering the relationship between creditor and debtor or even of influencing trade. By going over to reckoning in terms of gold, the community freed itself from the inflationary policy of the government. Thus it checkmated this inflationary policy, and eventually even the government was obliged to acknowledge gold as a basis of reckoning.","author":"Ludwig von Mises","tags":["capitalism","economics","freedom","money"],"id":16202,"author_id":"Ludwig+von+Mises"},{"text":"Modern society, based as it is on the division of labor, can be preserved only under conditions of lasting peace.","author":"Ludwig von Mises","tags":["society","labor","division "],"id":17440,"author_id":"Ludwig+von+Mises"},{"text":"The struggle for freedom is ultimately not resistance to autocrats or oligarchs but resistance to the despotism of public opinion.","author":"Ludwig von Mises","tags":["austrian-economics","capitalism","classical-liberalism","freedom","government","libertarian","liberty","statism"],"id":19357,"author_id":"Ludwig+von+Mises"}],"pagination":{"page":1,"page_size":10,"total":196,"pages":20,"next":"?page=2\u0026page_size=10"}}