Ludwig von Mises Quotes

We simply have to become more competitive as a state if we're going to be successful in creating jobs, bringing capital investment and raising income levels here in South Carolina.

As soon, however, as capitalist competition has definitively established the equal rate of profit, that rate becomes the starting point for the calculations of the capitalists in the investment of capital in newly-created branches of production.

With the rather stable ratio of labor force to total population, a high rate of increase in per capita product means a high rate of increase in product per worker; and, with average hours of work declining, it means still higher growth rates in product per man-hour.

The standard growth theory tells us that economic growth in per capita basis comes from mainly two sources: capital deepening and total factor productivity growth, or TFP growth.

The challenge to our national economies and the collective economy of Europe will become - with the growth of China and the continuing productivity growth of the US - even more intense in the decades to come.

Individual income can grow only as fast as productivity rises.

A variety of national and international studies indicate that the broad-based deployment of information technology can have a substantial impact on our nation's economic productivity and growth as well as the educational and social success of our citizens.

Entrepreneurs and their small enterprises are responsible for almost all the economic growth in the United States.

Britain is one of the world's most open economies. More dependent on trade than any other major country. Our success depends on our competitiveness and our competitiveness depends on raising our productivity, as our competitors are raising theirs.

Whether an instrument shall be regarded as productive capital or not depends entirely on its being used, or not, by some productive labourer…

If productivity grows, the economy does well.

The striking thing about America is - it's historically, extraordinary unusual, I don't of any other instance - is that productivity of workers and wages have not moved in tandem.

Capitalists have the tendency to move toward those countries in which there is plenty of labor available and at which labor is reasonable. And by the fact that they bring capital into these countries, they bring about a trend toward higher wage rates.

The notion of the competitiveness of countries, on the model of the competitiveness of companies, is nonsense.

A demand for commodities is not a demand for labor. The demand for labor is determined by the amount of capital directly devoted to the remuneration of labor: the demand for commodities simply determines in what direction labor shall be employed.

We know that investment causes growth. But it is also true that growth causes investment.

As the prosperity of the nation and the height of wage rates depend on a continual increase in the capital invested in its plants, mines and farms, it is one of the foremost tasks of good government to remove all obstacles that hinder the accumulation and investment of new capital.

The body of economic knowledge is an essential element in the structure of human civilization; it is the foundation upon which modern industrialism and all the moral, intellectual, technological, and therapeutical achievements of the last centuries have been built.

If all money capital invests in appropriation and none in actual production, then capitalism is not long for this world.

In economics, you always want to ask 'And then what?'

owning capital is not a productive activity.

Political Economy, in truth, has never pretended to give advice to mankind with no lights but its own; though people who knew nothing but political economy (and therefore knew it ill) have taken upon themselves to advise, and could only do so by such lights as they had.

We're living in a Dark Age of macroeconomics. Remember, what defined the Dark Ages wasn’t the fact that they were primitive — the Bronze Age was primitive, too. What made the Dark Ages dark was the fact that so much knowledge had been lost, that so much known to the Greeks and Romans had been forgotten by the barbarian kingdoms that followed.

So my judgment is that Syria will move; Syria will change, as it embraces a legitimate relationship with the United States and the West and economic opportunity that comes with it and the participation that comes with it.

The issue of economics is not something I've understood as well as I should. I've got Greenspan's book.