Ludwig Mises: Entrepreneur Profits

Meaning of Ludwig von Mises Money Quote: saying being entrepreneurial does not mean you’ll necessarily be making money without making what consumers want most. Ludwig von Mises said:
 

 

“The entrepreneur does not make greater profits in selling bad things than in selling good things. His profits are the greater the better he succeeds in providing the consumers with those things they ask for most intensely” — Ludwig von Mises

In this quote, Ludwig von Mises is explaining the role of entrepreneurs in a free market economy. He argues that entrepreneurs do not profit more by selling inferior or unwanted products, but rather by fulfilling consumer demand as effectively as possible.

According to Mises, entrepreneurs earn the highest profits when they are most successful at providing consumers with the goods and services that consumers desire most urgently.

So Mises is suggesting that the profit incentive naturally drives entrepreneurs to meet consumer needs and wants, as the only path to greater profits is satisfying market demand through innovation and efficiency.

The overall interpretation is that Mises viewed the free market as self-correcting, with entrepreneurs rewarded most for delivering what benefits consumers, not what is bad for them.

Birthday: September 29, 1881 – Death: October 10, 1973

Ludwig von Mises: War Business

Ludwig von Mises Money Quote saying that economic considerations considered a poor business proposition. Ludwig von Mises said:
 

 

“Economically considered, war and revolution are always bad business” — Ludwig von Mises

In this quote, Ludwig von Mises is making the argument that from a purely economic perspective, war and revolution are never good for business or the overall economy. His interpretation is that the destruction of life, property and resources that occurs during armed conflicts like war or revolution undermines productivity and wealth creation.

By disrupting trade, commerce and the free market system through violence and chaos, wars and revolutions set back economic growth and activity according to Mises. His view is that while some individual industries may benefit from increased military spending or rebuilding needs, the net impact on the whole economy is always negative when assessed in business or financial terms alone.

Birthday: September 29, 1881 – Death: October 10, 1973

Ludwig von Mises: War Prosperity

Ludwig von Mises Money Quote saying that money made by some is taken from others to prosper some. Ludwig von Mises said:
 

 

“The essence of so-called war prosperity; it enriches some by what it takes from others. It is not rising wealth but a shifting of wealth and income” — Ludwig von Mises

In this quote, Ludwig von Mises is challenging the idea that war can generate true or widespread economic prosperity. His interpretation is that while war may enrich some individuals or sectors of the economy through increased military spending, this wealth is not new but merely shifted from other parts of the economy and citizenry that are paying higher taxes, buying fewer goods, or otherwise having their resources utilized for the war effort.

According to Mises’ view, the overall wealth of a nation does not increase due to war, but rather just shifts between different groups as resources are reallocated towards the war industry. So he argues that war prosperity is not actually rising wealth for a country as a whole, but the redistribution and shifting of existing wealth and income towards certain beneficiaries of the war economy.

Birthday: September 29, 1881 – Death: October 10, 1973

Ludwig von Mises: Economic Aims

Ludwig von Mises Money Quote saying peace is a requirement for the achievement of economic goals. Ludwig von Mises said:
 

 

“The attainment of the economic aims of man presupposes peace” — Ludwig von Mises

In this quote, Ludwig von Mises is arguing that peace is a necessary precondition for achieving economic goals and prosperity. His interpretation is that war disrupts and undermines the free market system that allows for the efficient allocation of resources and maximization of productivity.

According to Mises’ view, peace is what allows economic activity like trade, commerce, investment and entrepreneurship to thrive.

So his position is that lasting economic progress for a society and fulfillment of its citizens’ material well-being depends fundamentally on the absence of armed conflict and a stable environment of peace, not the disruption and destruction brought by war.

Birthday: September 29, 1881 – Death: October 10, 1973

Ludwig von Mises: Economic War Boom

Ludwig von Mises Money Quotation saying prosperity from war comes at the expense of the destruction of property and lives of battleground countries. Ludwig von Mises said:
 

 

“War can really cause no economic boom, at least not directly, since an increase in wealth never does result from destruction of goods” — Ludwig von Mises

In this quote, Ludwig von Mises is arguing that war does not directly cause economic growth or a “boom”. His view is that destruction of goods through war does not increase wealth or the overall economy.

While war often leads to increased government spending and production of weapons, according to Mises this does not make up for the loss of goods, capital, and resources destroyed in the conflict.

His interpretation is that war can only harm economic activity by destroying existing wealth in the form of property and infrastructure, rather than creating new wealth through increased production and spending.

Birthday: September 29, 1881 – Death: October 10, 1973

Ludwig von Mises: Prosperous War

Ludwig von Mises Money Quotation saying there is no question that some businesses and industries benefit from war spending on the cost of battle hardware and logistic supplies – but society loses in lives. Ludwig von Mises said:
 

 

“War prosperity is like the prosperity that an earthquake or a plague brings” — Ludwig von Mises

In this quote, Ludwig von Mises is drawing an analogy between war prosperity and prosperity brought on by disasters like earthquakes or plagues. His interpretation is that any economic activity and growth stimulated by war is not true or sustainable prosperity, but is more similar to a temporary increase seen during or immediately after a catastrophic event.

Just as rebuilding after an earthquake or outbreak ends, so too would war-fueled growth decline once the war concludes and destruction ends.

The underlying message seems to be that war is disruptive and destructive, and any prosperity it brings is artificial and not long-lasting, akin to a boom after a natural disaster rather than a result of free market growth and productivity.

Birthday: September 29, 1881 – Death: October 10, 1973