The idea that political freedom can be preserved in the absence of economic freedom, and vice versa, is an illusion. Political freedom is the corollary of economic freedom.
Ludwig Von MisesRead
What is a loophole? If the law does not punish a definite action or does not tax a definite thing, this is not a loophole. It is simply the law.
Interpretation
What this quote means
Loopholes are not flaws in the law but rather a reflection of the law's structure.
In this quote, Ludwig Von Mises emphasizes that what is commonly referred to as a 'loophole' should not be seen as a crafty escape from the law, but rather as a legitimate aspect of the legal system. When the law fails to explicitly regulate or penalize certain actions or items, it is not the fault of those who take advantage of it; instead, it highlights the nature and limitations of legal frameworks.
Themes
LoopholeLawLegal SystemRegulationJustice
In practice
Example use cases
In a legal seminar discussing tax regulations, this quote could help clarify misconceptions about loopholes.
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The public firm can nowhere maintain itself in free competition with the private firm; it is possible today only where it has a monopoly that excludes competition. Even that alone is evidence of its lesser economic productivity.
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Each epoch has found in the Gospels what it sought to find there, and has overlooked what it wished to overlook.
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