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Depression is the aftermath of credit expansion.

Ludwig von Mises

Related Topics

Aftermath Credit Depression Expansion

Bagwalas

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Society has arisen out of the works of peace; the essence of society is peacemaking. Peace and not war is the father of all things.
LUDWIG VON MISES

Arisen Essence Father Make Out Peace Society War Work
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
True, governments can reduce the rate of interest in the short run. They can issue additional paper money.
LUDWIG VON MISES

Additional Government Interest Issue Money Paper Rate Reduce Run Running Short
A society that chooses between capitalism and socialism does not choose between two social systems; it chooses between social cooperation and the disintegration of society. Socialism is not an alternative to capitalism; it is an alternative to any system under which men can live as human beings.
LUDWIG VON MISES

Between Capitalism Choose Socialism Society System
Whoever prefers life to death, happiness to suffering, well-being to misery must defend without compromise private ownership in the means of production.
LUDWIG VON MISES

Compromise Death Happiness Liberty Mean Misery Ownership Prefer Suffering
Every socialist is a disguised dictator.
LUDWIG VON MISES

Dictator Disguise Socialist
Historical knowledge is indispensable for those who want to build a better world
LUDWIG VON MISES

Better Build Historical Indispensable Knowledge Want World
The causes of all panics, crashes and depressions can be summed up in only four words: the misuse of credit.
LUDWIG VON MISES

Causes Crash Credit Depression Four Panic Summed
The worst evils which mankind ever had to endure were inflicted by governments.
LUDWIG VON MISES

Endure Evil Government Infected Mankind Worst
It is vain to fight totalitarianism by adopting totalitarian methods. Freedom can only be won by men unconditionally committed to the principles of freedom.
LUDWIG VON MISES

Adopt Fight Method Totalitarian Vain
Do not give in to evil, but proceed ever more boldly against it.
LUDWIG VON MISES

Against Evil Giving Invest Proceed
The final outcome of the credit expansion is general impoverishment.
LUDWIG VON MISES

Credit Expansion Final General Impoverishment Outcome
He who serves the public best, makes the highest profits.
LUDWIG VON MISES

Best Highest Make Profit Public Service
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 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.
LUDWIG VON MISES

Ambition Change Defeat Doctrine Excellent Independent Make Money Party Political Purchase Standard
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

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