Ludwig von Mises: "When pushed hard by economists, some welfare propagandists and socialists admit that impairment of the average standard of living can only be avoided by the maintenance of capital already accumulated and that economic improvement depends on accumulation of additional capital." - Human Action
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| Ludwig von Mises | Cognizance of the relation between a cause and its effect is the first step toward mans orientation in the world and is the intellectual condition of any successful activity. | The Ultimate Foundation of Economic Science | p. 20 | Cause and Effect |