Austrian School Of Economics Quotes

July 4, the day we celebrate giving our political masters independence from conscience, morality, consequences for evil doing, and basic social and economic reality.The fireworks are the glowing tears of your children's incinerated futures.Cheer happy slaves - your only chains are your deluded joys. Cheer and sing, because for you, songs of death are easier than questions of life.

~ Stefan Molyneux

To try to cure unemployment by inflation rather than by adjustment of specific wage-rates is like trying to adjust the piano to the stool rather than the stool to the piano.

~ Henry Hazlitt

If any of the socialist chiefs had tried to earn his living by selling hot dogs, he would have learned something about the sovereignty of the consumers.

~ Ludwig Von Mises

What is a price? It is a proposed point of agreement between a buyer and seller. The proposal is the key. It is not a marching order. Past prices represent deals done in history. Current prices represent possible deals in the future. Prices embed vast information about perceived realities: resource availability, consumer demand, cultural biases and habits, speculations about the future. The price is also an amazing tool. It provides an objective basis for accounting and the assessment of profit and loss. Without prices, real prices rooted in real market experience, we’d been lost.

~ Jeffrey Tucker

Government programs didn’t arise because the people demanded them or because the free market was unable to provide needed services. They arose because the politicians found them to be a convenient way to buy votes with other people’s money, a convenient way to enlarge their own power, a convenient way to reward their political cronies, and a convenient way to keep people dependent on government.

~ Harry Browne

The free market punishes irresponsibility. Government rewards it.

~ Harry Browne

The profit of the one is the profit of the other.

~ Frédéric Bastiat

Money is not an invention of the state. It is not the product of a legislative act. Even the sanction of political authority is not necessary for its existence. Certain commodities came to be money quite naturally, as the result of economic relationships that were independent of the power of the state.

~ Carl Menger

Nowadays the job of the judge is not to do justice. The judge is more of a functionary . He's like a civil servant whose job is to interpret words written down by another branch of the government, whether those words are just or not.

~ Stephan Kinsella

Here's something I still can't get over. Amazes and thrills me every time. I'm sitting here and want a certain book. So I search, click, and then I have the book. Every time, my heart does a little leap of joy. What a beautiful world the market is making.

~ Jeffrey Tucker

Government is a gang, but not merely as meritorious as a private gang because it claims legal legitimacy. It pillages and uses violence but under the cover of law, and seeks legitimacy not through competition but through the myth of the social contract.

~ Jeffrey Tucker

The government enforces a monopoly over the production and distribution of its alleged 'services' and brings violence to bear against would-be competitors. In so doing, it reveals the fraud at the heart of its impudent claims and gives sufficient proof that it is not a genuine protector, but a mere protection racket.

~ Robert Higgs

The valuations which result in determination of definite prices are different. Each party attaches a higher value to the good he receives than to that he gives away. The exchange ratio, the price, is not the product of equality of valuation, but on the contrary, the product of a discrepancy in valuation.

~ Ludwig Von Mises

Emergencies” have always been the pretext on which the safeguards of individual liberty have eroded.

~ Friedrich A. Hayek

Freedom is indivisible. As soon as one starts to restrict it, one enters upon a decline on which it is difficult to stop.

~ Ludwig Von Mises

In spite of its alluring name, the welfare state stands or falls by compulsion. It is compulsion imposed upon us with the state’s power to punish noncompliance. Once this is clear, it is equally clear that the welfare state is an evil the same as every restriction of freedom.

~ Wilhelm Röpke

Liberty should be understood as freedom from the government, specifically, freedom from the initiation of physical force by the government.

~ George Reisman

War has been the necessary and inevitable consequence of the establishment of a monopoly on security.

~ Gustave De Molinari

Freedom is the foundation for all wonderful things in life.

~ Jeffrey Tucker

The phenomenon of economic ignorance is so widespread, and its consequences so frightening, that the objective of reducing that ignorance becomes a goal invested with independent moral worth.

~ Israel M. Kirzner

Ultimately, we need to take control over the money supply out of the hands of our governments and make the production of money again subject to the principle of free association. The first step to endorsing and promoting this strategy is to realize that governments do not—indeed cannot—fulfill any positive role whatever through the control of our money.

~ Jörg Guido Hülsmann

The disdain of profit is due to ignorance, and to an attitude that we may if we wish admire in the ascetic who has chosen to be content with a small share of the riches of this world, but which, when actualised in the form of restrictions on profits of others, is selfish to the extent that it imposes asceticism, and indeed deprivations of all sorts, on others.

~ Friedrich A. Hayek

Have you ever noticed how statists are constantly “reforming” their own handiwork? Education reform. Health-care reform. Welfare reform. Tax reform. The very fact they’re always busy “reforming” is an implicit admission that they didn’t get it right the first 50 times.

~ Lawrence W. Reed

He who is unfit to serve his fellow citizens wants to rule them.

~ Ludwig Von Mises

I don't want the technology of the 1950s, but I want the free market of the 1950s.

~ Peter D. Schiff

It is in war that the State really comes into its own: swelling in power, in number, in pride, in absolute dominion over the economy and the society.

~ Murray N. Rothbard

The safest way to make laws respected is to make them respectable.

~ Frédéric Bastiat

The State obtains its revenue by coercion, by threatening dire penalties should the income not be forthcoming. That coercion is known as “taxation,” although in less regularized epochs it was often known as “tribute.” 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

Trade and money, which go together in a stream of energy, inevitably wash away the enclosing walls of a society of status.

~ Isabel Paterson

Can social progress be made without government?It's like saying 'can happiness be achieved without the initiation of violence? Can romance be achieved without rape? Can profitability be achieved without theft? Can economic growth be achieved without the mass indebted enslavement and counterfeiting of the federal reserve?'.

~ Stefan Molyneux

The welfare of a people lies not in casting other peoples down but in peaceful collaboration.

~ Ludwig Von Mises

Taxation is the price we pay for failing to build a civilized society. The higher the tax level, the greater the failure. A centrally planned totalitarian state represents a complete defeat for the civilized world, while a totally voluntary society represents its ultimate success.

~ Mark Skousen

In regard to the so-called social contract, I have often had occasion to protest that I haven't even seen the contract, much less been asked to consent to it. A valid contract requires voluntary offer, acceptance, and consideration. I've never received an offer from my rulers, so I certainly have not accepted one; and rather than consideration, I have received nothing but contempt from the rulers, who, notwithstanding the absence of any agreement, have indubitably threatened me with grave harm in the event that I fail to comply with their edicts.

~ Robert Higgs

Society has arisen out of the works of peace; the essence of society is peacemaking. Peace and not war is the father of all things. Only economic action has created the wealth around us; labor, not the profession of arms, brings happiness. Peace builds, war destroys.

~ Ludwig Von Mises