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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

Related Topics

Appearance Artificial Boom Collapse Create Depression Expansion Open Soon Way

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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

Constitution Direct Freedom Government Illusory Law Market Other System
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 essential feature of government is the enforcement of its decrees by beating, killing, and imprisoning. Those who are asking for more government interference are asking ultimately for more compulsion and less freedom.
LUDWIG VON MISES

Ask Essential Freedom Government Imprisoning More Ultimate
The most serious dangers for American freedom and the American way of life do not come from without.
LUDWIG VON MISES

Come Country Danger Life Serious Way
Freedom really means the freedom to make mistakes.
LUDWIG VON MISES

Freedom Mean Mistake Really
German Marxian’s coined the dictum: If socialism is against human nature, then human nature must be changed.
LUDWIG VON MISES

Against Change Coin Country Human Human Nature Nature Philosophy Political Socialism
There is no means of avoiding the final collapse of a boom brought about by credit expansion.
LUDWIG VON MISES

Avoid Boom Collapse Credit Expansion Final Liberty Mean
They promise the blessings of the Garden of Eden, but they plan to transform the world into a gigantic post office. Every man but one a subordinate clerk in a bureau.
LUDWIG VON MISES

Bless Bureau Clerk Garden Man Promise Subordinate Transform
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
The issue is always the same: the government or the market. There is no third solution.
LUDWIG VON MISES

Always Government Issues Liberty Solution
In a battle between force and an idea, the latter always prevails.
LUDWIG VON MISES

Battle Between Force Ideas Latterm Prevail
Economic progress is the work of the savers, who accumulate capital, and of the entrepreneurs, who turn capital to new uses.
LUDWIG VON MISES

Accumulate Capital Economic Entrepreneur Progress Saver Turn
Freedom really means the freedom to make mistakes.
LUDWIG VON MISES

Freedom Make Mean Mistake
Socialism is not in the least what it pretends to be. It is not the pioneer of a better and finer world, but the spoiler of what thousands of years of civilization have created. It does not build, it destroys.
LUDWIG VON MISES

Better Least Mean Order Pretend Socialism Spoiler Thousand Year
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
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 criterion of truth is that it works even if nobody is prepared to acknowledge it.
LUDWIG VON MISES

Acknowledge Criteria Criterion Prepare Truth
Government cannot make man richer, but it can make him poorer.
LUDWIG VON MISES

Government Make Poorer Richer
The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.
LUDWIG VON MISES

Abandonment Alternative Come Currency Expansion Involved Sooner Voluntary Whether
The riches of successful entrepreneurs is not the cause of anybody’s poverty; it is the consequence of the fact that the consumers are better supplied than they would have been in the absence of the entrepreneur’s efforts.
LUDWIG VON MISES

Anybody Effort Entrepreneur Poverty Successful
A higher standard of living also brings about a higher standard of culture and civilization.
LUDWIG VON MISES

Civilization Cultural Higher Living Standard
To the masses, the catchwords of Socialism sound so enticing… so they will continue to work for Socialism, helping thereby to bring about the inevitable decline of the civilization which the nations of the West have taken thousands of years to build up.
LUDWIG VON MISES

Catchword Civilization Continue Help Inciting Mass Socialism Sound Taken Work Year
The truth is that most people lack the intellectual ability and courage to resist a popular movement, however pernicious and ill-considered.
LUDWIG VON MISES

Consider Courage Intelectual Most Movement People Popular Truth
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
Historical knowledge is indispensable for those who want to build a better world
LUDWIG VON MISES

Better Build Historical Indispensable Knowledge Want World
For them the main thing is not to improve the conditions of the masses, but to harm the entrepreneurs and capitalists even if this policy victimizes the immense majority of the people.
LUDWIG VON MISES

Capitalism Condition Entrepreneur Immerse Improve Majority People
The struggle for freedom is ultimately not resistance to autocrats or oligarchs but resistance to the despotism of public opinion.
LUDWIG VON MISES

Despotism Freedom Oligarch Opinion Public Resistance Struggle Ultimately

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