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The causes of all panics, crashes and depressions can be summed up in only four words: the misuse of credit.

Ludwig von Mises

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
LUDWIG VON MISES

Capitalism Fanatical Fighting Homage Implicity Liberty Passionately People Zeal
Unemployment doles can have no other effect than the perpetuation of unemployment.
LUDWIG VON MISES

Effect Perpetuation Unemployment
The alcoholic and the drug addict harm only themselves by their behavior; the person who violates the rules of morality governing mans life in society harms not only himself, but everyone.
LUDWIG VON MISES

Addict Alcoholic Behavior Drug Gobverming Life Man Morality Person Rule
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
Taxing profits is tantamount to taxing success.
LUDWIG VON MISES

Profit Success Tantamount Tax
In such vital matters blind reliance upon ‘experts’ and uncritical acceptance of popular catchwords and prejudices is tantamount to the abandonment of self-determination and to yielding to other people’s domination.
LUDWIG VON MISES

Catchwork Domination Matter Other Person Popular Reliance Vital Yield
The characteristic feature of a free society is that it can function in spite of the fact that its members disagree in many judgments of value.
LUDWIG VON MISES

Disagree Fact Function Judgement Mean Member Mistake Society Value
The so-called liberals of today have the very popular idea that freedom of speech, of thought, of the press, freedom of religion, freedom from imprisonment without trial-that all these freedoms can be preserved in the absence of what is called economic freedom.
LUDWIG VON MISES

Call Freedom Liberal Popular Press Religion Speech Though Today
The real bosses in the capitalist system of market economy are the consumers. They by their buying and by their abstention from buying decide who should own the capital and run the plants. They determine what should be produced and in what quantity and quality.
LUDWIG VON MISES

Attitude Boss Capital Consumer Economic Market Real Running System
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
The root of the evil is not the construction of new, more dreadful weapons. It is the spirit of conquest.
LUDWIG VON MISES

Acknowledge Construction Dreadful Peace Root War Weapon
The greater the amount of capital invested per head of the worker, the more and better goods can be produced and consumed.
LUDWIG VON MISES

Amount Better Capital Consume Good Greater Head Invest Produce
This is what capitalism, the much abused profit system, has brought about and brings about daily anew. Yet, most present-day governments and political parties are eager to destroy this system.
LUDWIG VON MISES

Abuse Capitalism Destroy Eager Government Most Profit System Yet
The struggle for freedom is not the struggle of the many against the few, but of minorities, sometimes of a minority of but one man gainst the majority.
LUDWIG VON MISES

Against Gainst Man Men Minority Struggle Survival
The mark of the creative mind is that it defies a part of what it has learned.
LUDWIG VON MISES

Creative Defies Learn Mark Mind
He who serves the public best, makes the highest profits.
LUDWIG VON MISES

Best Highest Make Profit Public Service

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 causes of all panics, crashes and depressions can be summed up in only four words: the misuse of credit.

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Popular Authors

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