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They can open the way to credit expansion by the banks. They can thus create an artificial boom and the appearance of prosperity. But such a boom is bound to collapse soon or late and to bring about a depression.

Ludwig von Mises

Related Topics

Appearance Artificial Boom Collapse Create Depression Expansion Open Soon Way

Bagwalas

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Marilyn Monroe Paulo Coelho Abraham Lincoln C. S. Lewis Khalil Gibran Charlie Chaplin Gautama Buddha Isaac Newton

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
A new type of superstition has got hold of people’s minds, the worship of the state. People demand the exercise of the methods of coercion and compulsion, of violence and threat. Woe to anybody who does not bend his knee to the fashionable idols!
LUDWIG VON MISES

Mind New People State Superstitious Type Worship
The state can be and has often been in the course of history the main source of mischief and disaster.
LUDWIG VON MISES

Course Disaster Liberty Mischief Often Peace Source State War
Government is the only institution that can take a valuable commodity like paper, and make it worthless by applying ink.
LUDWIG VON MISES

Apply Government Ink Institution Paper Take Valuable Worthless
The final outcome of the credit expansion is general impoverishment.
LUDWIG VON MISES

Credit Expansion Final General Impoverishment Outcome
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
Laissez faire does not mean: let soulless mechanical forces operate. It means: let individuals choose how they want to cooperate in the social division of labor and let them determine what the entrepreneurs should produce.
LUDWIG VON MISES

Choose Division Entrepreneur Faire Individual Labor Liassez Mean Mechanical Operate Soules
If you increase the quantity of money, you bring about the lowering of the purchasing power of the monetary unit.
LUDWIG VON MISES

Increase Lowering Monetary Power Purchasing World
All rational action is in the first place individual action. Only the individual thinks. Only the individual reasons. Only the individual acts.
LUDWIG VON MISES

Action First Rational Reason Think
Depression is the aftermath of credit expansion.
LUDWIG VON MISES

Aftermath Credit Depression Expansion
The philosophy underlying the system of progressive taxation is that the income and wealth of the well-to-do classes can be freely tapped.
LUDWIG VON MISES

Class Freely Philosophy Progressive Tap Taxation Wealth
Freedom really means the freedom to make mistakes.
LUDWIG VON MISES

Freedom Make Mean Mistake
It is important to remember that government interference always means either violent action or the threat of such action.
LUDWIG VON MISES

Action Important Mean Men Prison Guard Remember Threat Violent
The issue is always the same: the government or the market. There is no third solution.
LUDWIG VON MISES

Always Government Issues Liberty Solution
The most serious dangers for American freedom and the American way of life do not come from without.
LUDWIG VON MISES

Come Country Danger Life Serious Way
Economic prosperity is not so much a material problem; it is, first of all, an intellectual, spiritual, and moral problem.
LUDWIG VON MISES

Economic First Intellectual Problem Prosperity Spiritual

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