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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

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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 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
The root of the evil is not the construction of new, more dreadful weapons. It is the spirit of conquest.
LUDWIG VON MISES

Acknowledge Construction Dreadful Peace Root War Weapon
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

Class Freely Philosophy Progressive Tap Taxation Wealth
Many who are self-taught far excel the doctors, masters, and bachelors of the most renowned universities.
LUDWIG VON MISES

Doctor Hard Most Renowned Self University Work
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
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
The entrepreneur profits to the extent he has succeeded in serving the consumers better than other people have done.
LUDWIG VON MISES

Consumer Done Entrepreneur People Profit Successful
The alcoholic and the drug addict harm only themselves by their behavior; the person who violates the rules of morality governing mans life in society harms not only himself, but everyone.
LUDWIG VON MISES

Addict Alcoholic Behavior Drug Gobverming Life Man Morality Person Rule
The worst evils which mankind has ever had to endure were inflicted by bad governments.
LUDWIG VON MISES

Evil Government Peace War Worst
They call themselves liberals, but they are intent upon abolishing liberty. They call themselves democrats, but they yearn for dictatorship. They call themselves revolutionaries, but they want to make the government omnipotent.
LUDWIG VON MISES

Aboish Democrat Dictatorship Government Liberal Revolution Themselves Upon
The characteristic feature of a free society is that it can function in spite of the fact that its members disagree in many judgments of value.
LUDWIG VON MISES

Disagree Fact Function Judgement Mean Member Mistake Society Value
The essential feature of government is the enforcement of its decrees by beating, killing, and imprisoning.
LUDWIG VON MISES

Beat Enforcement Essential Government Kill
Liberty is always freedom from the government.
LUDWIG VON MISES

Always Government Liberty
If you increase the quantity of money, you bring about the lowering of the purchasing power of the monetary unit.
LUDWIG VON MISES

Increase Lowering Monetary Power Purchasing World
The real bosses, in the capitalist system of market economy, are the consumers.
LUDWIG VON MISES

Boss Capital Consumer Market System
Liberty is meaningless if it is only the liberty to agree with those in power.
LUDWIG VON MISES

Agree Liberty Meaningless Only Power

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