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There is no means of avoiding the final collapse of a boom brought about by credit expansion.

Ludwig von Mises

Related Topics

Avoid Boom Collapse Credit Expansion Final Liberty Mean

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The essential feature of government is the enforcement of its decrees by beating, killing, and imprisoning.
LUDWIG VON MISES

Beat Enforcement Essential Government Kill
Freedom really means the freedom to make mistakes.
LUDWIG VON MISES

Freedom Mean Mistake Really
Tyranny is the political corollary of socialism, as representative government is the political corollary of the market economy.
LUDWIG VON MISES

Corollary Economic Government Market Political Representative Socialism
State interference in economic life, which calls itself economic policy, has done nothing but destroy economic life. Prohibitions and regulations have by their general obstructive tendency fostered the growth of the spirit of wastefulness.
LUDWIG VON MISES

Call Destroy Done Economic Growth Interfere Life Nothing Policy Regulation State
The truth is that most people lack the intellectual ability and courage to resist a popular movement, however pernicious and ill-considered.
LUDWIG VON MISES

Consider Courage Intelectual Most Movement People Popular Truth
Their attitudes result either in profit or in loss for the enterpriser. They make poor men rich and rich men poor. They are no easy bosses.
LUDWIG VON MISES

Attribute Bosses Easy Make Men Profit Result Stem
As conditions are today, nothing can be more important to every intelligent man than economics. His own fate and that of his progeny are at stake.
LUDWIG VON MISES

Condition Economic Important Intelligent Own Progeny Stake
The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.
LUDWIG VON MISES

Abandonment Alternative Come Currency Expansion Involved Sooner Voluntary Whether
Government spending cannot create additional jobs. If the government provides the funds required by taxing the citizens or by borrowing from the public, it abolishes on the one hand as many jobs as it creates on the other.
LUDWIG VON MISES

Additional Borrow Citizen Fund Government Job Provide Spend Taxi
For destruction is the essence of it. It produces nothing, it only consumes what the social order based on private ownership in the means of production has created.
LUDWIG VON MISES

Create Destruction Essence Private Production Social
The Welfare State is merely a method for transforming the market economy step by step into socialism.
LUDWIG VON MISES

Market Misery Socialism State Step Transform Welfare
The worst evils which mankind ever had to endure were inflicted by governments.
LUDWIG VON MISES

Endure Evil Government Infected Mankind Worst
Private property creates for the individual a sphere in which he is free of the state. It sets limits to the operation of the authoritarian will.
LUDWIG VON MISES

Authoritarian Create Individual Limit Operation Private Spheres State
Capitalism gave the world what it needed, a higher standard of living for a steadily increasing number of people.
LUDWIG VON MISES

Capitalism Need Number People Standard Steadily World
There is no means of avoiding the final collapse of a boom brought about by credit expansion.
LUDWIG VON MISES

Avoid Boom Collapse Credit Expansion Final Liberty Mean
Whoever neglects to examine to the best of his abilities all the problems involved voluntarily surrenders his birthright to a selfappointed elite of supermen.
LUDWIG VON MISES

Ability Appointed Elite Example Neglect Problem Self Supermen Surrender

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