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Economic prosperity is not so much a material problem; it is, first of all, an intellectual, spiritual, and moral problem.

Ludwig von Mises

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
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
It is important to remember that government interference always means either violent action or the threat of such action.
LUDWIG VON MISES

Action Important Mean Men Prison Guard Remember Threat Violent
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
Unemployment doles can have no other effect than the perpetuation of unemployment.
LUDWIG VON MISES

Effect Perpetuation Unemployment
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

Condition Economic Important Intelligent Own Progeny Stake
A new type of superstition has got hold of people’s minds, the worship of the state. People demand the exercise of the methods of coercion and compulsion, of violence and threat. Woe to anybody who does not bend his knee to the fashionable idols!
LUDWIG VON MISES

Mind New People State Superstitious Type Worship
For destruction is the essence of it. It produces nothing, it only consumes what the social order based on private ownership in the means of production has created.
LUDWIG VON MISES

Create Destruction Essence Private Production Social
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
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
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
There is but one means available to improve the material conditions of mankind: to accelerate the growth of capital accumulated as against the growth in population.
LUDWIG VON MISES

Accelerate Accumulate Against Available Capital Condition Government Growth Improve Mankind Material Mean Party
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
The advocates of public control cannot do without inflation. They need it in order to finance their policy of reckless spending and of lavishly subsidizing and bribing the voters.
LUDWIG VON MISES

Advocate Control Inflation Need Order Public Voter
Every government intervention [in the marketplace] creates unintended consequences, which lead to calls for further government interventions.
LUDWIG VON MISES

Call Consequences Government Intervention Marketplace Unintended
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

Economic prosperity is not so much a material problem; it is, first of all, an intellectual, spiritual, and moral problem.

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Economic prosperity is not so much a material problem; it is, first of all, an intellectual, spiritual, and moral problem.

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