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The causes of all panics, crashes and depressions can be summed up in only four words: the misuse of credit.

Ludwig von Mises

Related Topics

Causes Crash Credit Depression Four Panic Summed

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Marilyn Monroe Paulo Coelho Abraham Lincoln C. S. Lewis Khalil Gibran Charlie Chaplin Gautama Buddha Isaac Newton

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 mark of the creative mind is that it defies a part of what it has learned.
LUDWIG VON MISES

Creative Defies Learn Mark Mind
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.
LUDWIG VON MISES

Answer Change Cooperative Division Economical Free Individual Labor Market Mean Mena Simple System
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
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
Whoever neglects to examine to the best of his abilities all the problems involved voluntarily surrenders his birthright to a selfappointed elite of supermen.
LUDWIG VON MISES

Ability Appointed Elite Example Neglect Problem Self Supermen Surrender
Depressions and mass unemployment are not caused by the free market but by government interference in the economy.
LUDWIG VON MISES

Depression Government Interference Market Mass Unemployment
Know that every breath is a miracle and every moment a blessing and you will achieve your dreams.
LUDWIG VON MISES

Archive Bless Breath Breathe Dream Know Miracle Moment
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
There is no means by which anyone can evade his personal responsibility.
LUDWIG VON MISES

Anyone Evade Mean Personal Responsibility
If one rejects laissez faire on account of mans fallibility and moral weakness, one must for the same reason also reject every kind of government action.
LUDWIG VON MISES

Account Faire Faliblity Government Laissez Man Moral React Reason Reject Same Weakness
He who serves the public best, makes the highest profits.
LUDWIG VON MISES

Best Highest Make Profit Public Service
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
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
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
Capitalism gave the world what it needed, a higher standard of living for a steadily increasing number of people.
LUDWIG VON MISES

Capitalism Need Number People Standard Steadily World

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