There is no means of avoiding the final collapse of a boom brought about by credit expansion.
LUDWIG VON MISESCapitalism needs neither propaganda nor apostles. Its achievements speak for themselves. Capitalism delivers the goods.
More Ludwig von Mises Quotes
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The causes of all panics, crashes and depressions can be summed up in only four words: the misuse of credit.
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Taxing profits is tantamount to taxing success.
LUDWIG VON MISES -
The main propoganda trick of supporters of the allegedly “progressive” policy of government control is to blame capitalism for all that is unsatisfactory in present-day conditions and to extol the blessings of socialism. They have never attempted to prove their fallacious dogmas.
LUDWIG VON MISES -
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 -
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 -
The criterion of truth is that it works even if nobody is prepared to acknowledge it.
LUDWIG VON MISES -
Freedom is indivisible. As soon as one starts to restrict it, one enters upon a decline on which it is difficult to stop.
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The final outcome of the credit expansion is general impoverishment.
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Depression is the aftermath of credit expansion.
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Economics is not about things and tangible material objects; it is about men, their meanings and actions.
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The gold standard did not collapse. Governments abolished it in order to pave the way for inflation.
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Private property creates for the individual a sphere in which he is free of the state. It sets limits to the operation of the authoritarian will.
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It is the soil in which the seeds of freedom are nurtured and in which the autonomy of the individual and ultimately all intellectual and material progress are rooted.
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Tyranny is the political corollary of socialism, as representative government is the political corollary of the market economy.
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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
LUDWIG VON MISES