Economically considered, war and revolution are always bad business.

What did Ludwig von Mises mean by:

Economically considered, war and revolution are always bad business.

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This quote suggests that from an economic standpoint, war and revolution are detrimental. It implies that such events disrupt the normal flow of business, causing a loss of stability and predictability, which are key for economic growth. War often leads to the destruction of infrastructure and human capital, while revolution can lead to the overthrow of established economic systems, both of which can result in a significant economic downturn.

In addition, the resources used for war and revolution – human lives, materials, money – could have been used for more productive purposes, such as education, healthcare, or infrastructure development. This concept is known as ‘opportunity cost’ in economics – the loss of potential gain from other alternatives when one alternative is chosen.

Applying this idea to today’s world, we can see the economic impact of conflicts and political unrest in various regions. For example, wars in the Middle East have not only led to a loss of life and infrastructure but also disrupted trade and caused fluctuations in oil prices globally. On the other hand, political revolutions, like the Arab Spring, led to economic instability, affecting not just the countries involved but also their trading partners.

In terms of personal development, this quote could be interpreted as a call to avoid unnecessary conflicts and strive for stability and growth instead. Just as war and revolution can disrupt an economy, personal conflicts and drastic changes can disrupt a person’s life, hindering their growth and progress. Instead, investing time and resources in personal development, education, and building positive relationships can lead to better long-term outcomes.

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