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[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

The most important thing to remember is that inflation is not an act of God, that inflation is not a catastrophe of the elements or a disease that comes like the plague. Inflation is a policy.
LUDWIG VON MISES

Act God Important Inflation Most Remember Things
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 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
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
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 flowering of human society depends on two factors: the intellectual power of outstanding men to conceive sound social and economic theories, and the ability of these or other men to make these ideologies palatable to the majority.
LUDWIG VON MISES

Conceive Economic Factor Flowrm Human Ideas Intellectual Men Outstanding Social Society Sound Two
The whole grim apparatus of oppression and coercion, policemen, customs guards, penal courts, prisons, in some countries even executioners, had to be put into action in order to destroy the gold standard.
LUDWIG VON MISES

Action Apparatus Coercion Country Cutsom Gold Pencil Policemen Standard
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
The final outcome of the credit expansion is general impoverishment.
LUDWIG VON MISES

Credit Expansion Final General Impoverishment Outcome
Planning other people’s actions means to prevent them from planning for themselves, means to deprive them of their essentially human quality, means enslaving them.
LUDWIG VON MISES

Authoritarian Create Enslave Limit Operation Private Property Set
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
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
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
The issue is always the same: the government or the market. There is no third solution.
LUDWIG VON MISES

Always Government Issues Liberty Solution
Liberty is always freedom from the government.
LUDWIG VON MISES

Always Government Liberty
Those who are asking for more government interference are asking ultimately for more compulsion and less freedom.
LUDWIG VON MISES

Ask Freedom Government Interference More Peace Ultimately 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

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[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

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