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As conditions are today, nothing can be more important to every intelligent man than economics. His own fate and that of his progeny are at stake.

Ludwig von Mises

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Condition Economic Important Intelligent Own Progeny Stake

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

The planner is a potential dictator who wants to deprive all other people of the power to plan and act according to their own plans. He aims at one thing only: the exclusive absolute preeminence of his own plan.
LUDWIG VON MISES

According Dictator Other Own People Plan Planner Potential Power Want Deprive
The final outcome of the credit expansion is general impoverishment.
LUDWIG VON MISES

Credit Expansion Final General Impoverishment Outcome
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 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
If one rejects laissez faire on account of mans fallibility and moral weakness, one must for the same reason also reject every kind of government action.
LUDWIG VON MISES

Account Faire Faliblity Government Laissez Man Moral React Reason Reject Same Weakness
The standard of living of the common man is higher in those countries which have the greatest number of wealthy entrepreneurs.
LUDWIG VON MISES

Common Country Entrepreneur Higher Man Men Number Standard
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

Appearance Artificial Boom Collapse Create Depression Expansion Open Soon Way
The only source from which an entrepreneurs profits stem is his ability to anticipate better than other people the future demand of the consumers.
LUDWIG VON MISES

Ability Anticipate Demand Entrepreneur Future Other People Profit Source Stem
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 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
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 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
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
Depression is the aftermath of credit expansion.
LUDWIG VON MISES

Aftermath Credit Depression Expansion
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
[E]conomic history is a long record of government policies that failed because they were designed with a bold disregard for the laws of economics
LUDWIG VON MISES

Bold Design Disregard Economic Fail History Law Long Political Record

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