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
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.
Interpretation
What this quote means
Good government plays a critical role in fostering economic prosperity by facilitating capital investment.
In this quote, Ludwig Von Mises emphasizes the importance of continuous capital accumulation for a nation's prosperity. He argues that the government should actively work to eliminate barriers to investment, as this directly influences wage rates and overall economic health, highlighting the interplay between capital investment and the well-being of society.
Themes
ProsperityGovernmentCapitalInvestmentEconomyWageBarriers
In practice
Example use cases
In a speech about economic reforms, one might quote Mises to advocate for pro-investment policies.
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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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