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Compliance with the moral rules which the establishment, preservation, and intensification of social co-operation require is not seen [by the economist] as a sacrifice to a mythical entity, but as the recourse to the most efficient methods of action, as a price expended for the attainment of more highly valued returns.

The social division of labor and cooperation rests upon conciliatory settlements of disputes. Not war, as Heraclitus said, but peace is the source of all social relations. He who wants to preserve life and health as well and as long as possible, must realize that respect for other people’s lives and health better serves his aim than the opposite mode of conduct.

Ludwig von Mises
Ludwig von Mises

Ludwig von Mises (1881-1973) taught in Vienna and New York and served as a closes adviser to the Foundation for Economic Education. He is considered the leading theorist of the Austrian School of the 20th century.