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 | Experience is a mental act on the part of thinking and acting men. | The Ultimate Foundation of Economic Science | p. 15 | Experience |
| Ludwig von Mises | Experience tells us something we did not know before and could not learn but for having had the experience. | The Ultimate Foundation of Economic Science | p. 18 | Experience |
| Ludwig von Mises | New experience can force us to discard or modify inferences we have drawn from previous experience. | Epistemological Problems of Economics | p. 27 | Experience |