Economic Progress - Quote by Ludwig von Mises

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

This quote by Ludwig von Mises highlights the importance of savers and entrepreneurs for economic progress.

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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.

Ayn Rand quote image about prosperity, progress, and free enterprise

7. August 2023

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"America's abundance was created not by public sacrifices to the common good, but by the productive genius of free men who pursued their own personal interests and the making of their own private fortunes. They did not starve the people to pay for America's industrialization. They gave the people better jobs, higher wages, and cheaper goods with every new machine they invented, with every scientific discovery or technological advance- and thus the whole country was moving forward and profiting, not suffering, every step of the way." Ayn Rand

Murray Rothbard quote about scarcity, economic resources, and the free market

5. June 2020

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"One of the most important features of our economic resources is their scarcity: land, labor, and capital goods factors are all scarce, and may all be put to various possible uses. The free market uses them 'productively' because the producers are guided, on the market, to produce what the consumers most need: automobiles, for example, rather than buggies." Murray Rothbard

Milton Friedman quote about competition, private enterprise, and economic freedom

6. July 2019

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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