Austrian School Of Economics Quotes

Growing economies are built by billions of actors behaving according to their own interests, coordinated through institutions that no one in particular created.Realizing this requires humility, a trait that is in short supply among would-be dictators, politicians, and bureaucrats, which is precisely why these groups are the proven enemies of prosperity in all times and places.

~ Jeffrey Tucker

Laissez faire (in its full true meaning) opens the way to the realization of the noble dreams of socialism.

~ Henry George

The idea that the government has services or goods that they can pass on is a complete farce. Governments have nothing. They can’t create anything, they never have. All they can do is steal from one group and give it to another at the destruction of the principles of freedom, and we ought to challenge that concept.

~ Ron Paul

Price controls almost invariably produce black markets, where prices are not only higher than the legally permitted prices, but also higher than they would be in a free market, since the legal risks must also be compensated. While small-scale black markets may function in secrecy, large-scale black markets usually require bribes to officials to look the other way.

~ Thomas Sowell

Government should never be able to do anything you can't do. If you can't steal from your neighbor, you can't send the government to steal for you.

~ Ron Paul

It was Thomas Edison who brought us electricity, not the Sierra Club. It was the Wright brothers who got us off the ground, not the Federal Aviation Administration. It was Henry Ford who ended the isolation of millions of Americans by making the automobile affordable, not Ralph Nader. Those who have helped the poor the most have not been those who have gone around loudly expressing 'compassion' for the poor, but those who found ways to make industry more productive and distribution more efficient, so that the poor of today can afford things that the affluent of yesterday could only dream about.

~ Thomas Sowell

There are two methods, or means, and only two, whereby man's needs and desires can be satisfied. One is the production and exchange of wealth; this is the economic means. The other is the uncompensated appropriation of wealth produced by others; this is the political means.

~ Albert Jay Nock

Copyright: a system of monopoly privilege over the expression of ideas that enables government to stop consumer-friendly economic development and reward uncompetitive and legally privileged elites to fleece the public through surreptitious use of coercion.

~ Jeffrey Tucker

Once you understand the economics of the Austrian School and the philosophy of liberty in the tradition of Rothbard, you never look at anything – not the state, the media, the central bank, the political class, nothing – the same way again.

~ Llewellyn H. Rockwell Jr.

The law is guilty of the evils it is supposed to punish.

~ Frédéric Bastiat

If any man's money can be taken by a so-called government, without his own personal consent, all his other rights are taken with it; for with his money the government can, and will, hire soldiers to stand over him, compel him to submit to its arbitrary will, and kill him if he resists.

~ Lysander Spooner

Every socialist is a disguised dictator.

~ Ludwig Von Mises

When people say 'let's do something about it', they mean 'let's get hold of the political machinery so that we can do something to somebody else.' And that somebody is invariably you.

~ Frank Chodorov

Commerce tends toward rewarding inclusion, broadness, and liberality. Tribal loyalties, ethnic and religious bigotries, and irrational prejudices are bad for business. The merchant class has been conventionally distrusted by tribalist leaders -- from the ancient to the modern world -- precisely because merchantcraft tends to break down barriers between groups.

~ Jeffrey Tucker

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 instant that any government obtains a monetary printing press, it becomes a deeply dishonest government, empowered to rob people by stealth. A government with the power to print money knows no limits.

~ Jeffrey Tucker

Recall that the minimum wage was initially conceived as a method to exclude undesirables from the workforce.

~ Jeffrey Tucker

Ultimately, all arguments against markets are arguments against anarchy. Marx understood this much, at least.

~ 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

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

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

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

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

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