To understand Mises's position on ethics, it is essential to bear in mind that he is a psychological hedonist. He thinks everyone is always motivated by pleasure and pain, a view that comes straight from Epicurus. We seek pleasure and avoid pain. You might object that this is obviously false. Don't we do things very frequently like go on restrictive diets, exercise, study subjects that aren't fun, and so on? Mises's answer is that even though we are motivated by pleasure and pain, it doesn't follow that we are motivated by what will give us the most pleasure, or the least pain, at a given moment. We can be motivated by our wish for the most pleasure, or the least pain, over a long period of time.