From The Quotable Mises — surrounding passage

Profit and loss are the instruments by means of which the consumers keep a tight rein on all business activities. Bureaucracy , pp. 21–22 A short time ago the demagogues blamed capitalism for the poverty of the masses. Today they rather blame capitalism for the “affluence” that it bestows upon the common man. Human Action , No Entry; p. 859 Capitalism gave the world what it needed, a higher standard of living for a steadily increasing number of people. Human Action , pp. 860–61; p. 864

“The word “Capitalism” expresses, for our age, the sum of all evil. Even the opponents of Socialism are dominated by socialist ideas.”

Socialism , p. 15 In the capitalist society there is a place and bread for all. Its ability to expand provides sustenance for every worker. Permanent unemployment is not a feature of free capitalism. Socialism , p. 286 We do not assert that the capitalist mode of economic calculation guarantees the absolutely best solution of the allocation of factors of production. Such absolutely perfect solutions of any problem are out of reach of mortal men.