George Reisman

Ludwig Von Mises is important because his teachings are necessary to the preservation of capitalism and thus of civilization.

There is no subject that more urgently needs to be understood in the world today than economics. Our well-being, indeed, our very lives, depend on the production of wealth.

The Industrial Revolution has allowed mankind to improve his environment.

A shortening of the hours of work is a highly desirable goal. But it cannot be achieved along with growing prosperity except in a free market.

A shortening of the hours of work is a highly desirable goal. But it cannot be achieved along with growing prosperity except in a free market.

Economics proves the existence of a harmony of the rational self-interests of all participants in the economic system—a harmony which permeates the institutions of private ownership of the means of production, economic inequality, and economic competition.

Capitalism is denounced as “an anarchy of production,” a chaos ruled by “exploiters,” “robber barons,” and “profiteers,” who “coldly,” “calculatingly,” “heartlessly,” and “greedily” consume the efforts and destroy the lives of the broad masses of average, innocent people.

In a free market, the prices of products tend to be governed by their costs of production.

In a free market, within the limit of his abilities, each person chooses that job which he believes offers him the best combination of money and nonmonetary considerations. In so doing, he simultaneously acts for his own maximum well-being and for that of the consumers who buy the ultimate products his labor helps to produce.

Speculative activity, of course, is not limited to anticipating just future scarcities. Rather, it seeks in general to balance consumption and production over time by accumulating stocks of commodities and regulating their rate of consumption.