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Government is the only institution that can take a valuable commodity like paper, and make it worthless by applying ink.

Ludwig von Mises

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
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
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
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.
LUDWIG VON MISES

Envy Expectation Ilusion Mass Push Richer Socialism
If we live our lives as a gift it is possible to reach a blissful state of eternal happiness. It is those who live their life with a sense of entitlement that undermine peace , freedom and liberty.
LUDWIG VON MISES

Bless Dream Enlightenment Eternal Happiness Live Mean Possible State
What the advocates of these tax rates fail to realize is that the greater part of the incomes taxed away would not have been consumed but saved and invested.
LUDWIG VON MISES

Advocate Consumed Greater Income Invest Tax
Unemployment doles can have no other effect than the perpetuation of unemployment.
LUDWIG VON MISES

Effect Perpetuation Unemployment
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
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
The gold standard did not collapse. Governments abolished it in order to pave the way for inflation.
LUDWIG VON MISES

Abolish Collapse Country Gold Government Inflation Order Pave Wave
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 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 issue is always the same: the government or the market. There is no third solution.
LUDWIG VON MISES

Always Government Issues Liberty Solution
Freedom is indivisible. As soon as one starts to restrict it, one enters upon a decline on which it is difficult to stop.
LUDWIG VON MISES

Difficult Enter Freedom Indivisible One Restrict Soon Start Stop
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.
LUDWIG VON MISES

Answer Change Cooperative Division Economical Free Individual Labor Market Mean Mena Simple System
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

Government is the only institution that can take a valuable commodity like paper, and make it worthless by applying ink.

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Government is the only institution that can take a valuable commodity like paper, and make it worthless by applying ink.

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