Ludwig von Mises Institute

Valor

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Valor is courage in the face of danger. According to Ludwig von Mises, what sometimes appears to be valor is in fact the result of dangers that would arise from not taking a risk: "The doctor and the professional soldier are in the same position as many other workers whose work is associated with danger. The supply of workers for these professions reflects their lesser attractiveness, and the wage is adapted correspondingly. But if, in spite of the danger, a man enters the profession for sake of the higher remuneration and other advantages and honours, he cannot evade the dangers without the greatest prejudice to himself. The professional soldier who turned tail, the doctor who refused to treat an infectious case, would endanger their future careers to such an extent that they have virtually no choice in the matter."[1]

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