The riches of the rich are not the cause of the poverty of anybody; the process that makes some people rich is, on the contrary, the corollary of the process that improves many peoples want satisfaction.
LUDWIG VON MISESThey 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.
More Ludwig von Mises Quotes
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Under capitalism everybody is the architect of his own fortune.
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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
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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 -
True, governments can reduce the rate of interest in the short run. They can issue additional paper money.
LUDWIG VON MISES -
The liars must be afraid of the truth and are therefore driven to suppress its pronouncement.
LUDWIG VON MISES -
What mankind needs today is liberation from the rule of nonsensical slogans and a return to sound reasoning.
LUDWIG VON MISES -
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 -
The champions of socialism call themselves progressives, but they recommend a system which is characterized by rigid observance of routine and by a resistance to every kind of improvement.
LUDWIG VON MISES -
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 -
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.
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Economic progress is the work of the savers, who accumulate capital, and of the entrepreneurs, who turn capital to new uses.
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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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The final outcome of the credit expansion is general impoverishment.
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Socialism is not an alternative to capitalism; it is an alternative to any system under which men can live as human beings.
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They do not realize that, in a system where there is no market, where the government directs everything, all those other freedoms are illusory, even if they are made into laws and written up in constitutions.
LUDWIG VON MISES