The final outcome of the credit expansion is general impoverishment.
LUDWIG VON MISESHistorical knowledge is indispensable for those who want to build a better world
More Ludwig von Mises Quotes
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There is no means of avoiding the final collapse of a boom brought about by credit expansion.
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Liberty is meaningless if it is only the liberty to agree with those in power.
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The truth is that the government cannot give if it does not take from somebody…It is not in the power of the government to make everybody more prosperous.
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Know that every breath is a miracle and every moment a blessing and you will achieve your dreams.
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The worst evils which mankind has ever had to endure were inflicted by bad governments.
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They do not realize that, in a system where there is no market, where the government directs everything, all those other freedoms are illusory, even if they are made into laws and written up in constitutions.
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They call themselves liberals, but they are intent upon abolishing liberty. They call themselves democrats, but they yearn for dictatorship. They call themselves revolutionaries, but they want to make the government omnipotent.
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The fundamental law of the market is: the customer is always right.
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What pushes the masses into the camp of socialism is, even more than the illusion that socialism will make them richer, the expectation that it will curb all those who are better than they themselves are.
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None can stand aside with unconcern; the interest of everyone hangs on the result. Whether he chooses or not, every man is drawn into the great historical struggle, the decisive battle into which our epoch has plunged us.
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Free markets. What does this system mean? The answer is simple: it is the market economy, it is the system in which the cooperation of individuals in the social division of labor is achieved by the market.
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The criterion of truth is that it works even if nobody is prepared to acknowledge it.
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Freedom really means the freedom to make mistakes.
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Every socialist is a disguised dictator.
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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.
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It is the soil in which the seeds of freedom are nurtured and in which the autonomy of the individual and ultimately all intellectual and material progress are rooted.
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The entrepreneurs, the capitalists and the technologists prosper as far as they succeed in best supplying the consumers.
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Freedom really means the freedom to make mistakes.
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Whoever prefers life to death, happiness to suffering, well-being to misery must defend without compromise private ownership in the means of production.
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The champions of socialism call themselves progressives, but they recommend a system which is characterized by rigid observance of routine and by a resistance to every kind of improvement.
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The gold standard makes the money’s purchasing power independent of the changing, ambitions and doctrines of political parties and pressure groups. This is not a defect of the gold standard; it is its main excellence.
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The causes of all panics, crashes and depressions can be summed up in only four words: the misuse of credit.
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The essential feature of government is the enforcement of its decrees by beating, killing, and imprisoning.
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All people, however fanatical they may be in their zeal to disparage and to fight capitalism, implicitly pay homage to it by passionately clamoring for the products it turns out
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Tyranny is the political corollary of socialism, as representative government is the political corollary of the market economy.
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The real bosses, in the capitalist system of market economy, are the consumers.
LUDWIG VON MISES