Economic History and Government Policies

Ludwig von Mises was an Austrian economist, social philosopher, and one of the leading figures of the Austrian School of economics.

Quote by Ludwig von Mises on the role of government interventions in the economy and their failure due to ignoring economic principles.

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Ludwig von Mises (1881–1973) was a prominent Austrian economist and social philosopher, known for his contributions to the Austrian School of economics. He significantly influenced libertarian and free-market economic theory and was a critic of socialism and interventionism.

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"One of the most important reasons for studying history is that virtually every stupid idea that is in vogue today has been tried before and proved disastrous before, time and again." Thomas Sowell

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"There are severe limits to the good that the government can do for the economy, but there are almost no limits to the harm it can do." Milton Friedman

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"Every government intervention [in the marketplace] creates unintended consequences, which lead to calls for further government interventions." Ludwig von Mises

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"Politicians are notoriously economically illiterate. And even when they know what would be the right thing, we don't really expect them to do it." Harry Browne

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"Socialism in general has a record of failure so blatant that only an intellectual could ignore or evade it." Thomas Sowell

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"The economic miracle that has been the United States was not produced by socialized enterprises, by government-unon-industry cartels or by centralized economic planning. It was produced by private enterprises in a profit-and-loss system. And losses were at least as important in weeding out failures, as profits in fostering successes. Let government succor failures, and we shall be headed for stagnation and decline." Milton Friedman

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Economic History and Government Policies – Ludwig von Mises Quote

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