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The gold standard did not collapse. Governments abolished it in order to pave the way for inflation.

Ludwig von Mises

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
The worst evils which mankind has ever had to endure were inflicted by bad governments.
LUDWIG VON MISES

Evil Government Peace War Worst
The gold standard makes the money’s purchasing power independent of the changing, ambitions and doctrines of political parties and pressure groups. This is not a defect of the gold standard; it is its main excellence.
LUDWIG VON MISES

Ambition Change Defeat Doctrine Excellent Independent Make Money Party Political Purchase Standard
Government spending cannot create additional jobs. If the government provides the funds required by taxing the citizens or by borrowing from the public, it abolishes on the one hand as many jobs as it creates on the other.
LUDWIG VON MISES

Additional Borrow Citizen Fund Government Job Provide Spend Taxi
Liberty is meaningless if it is only the liberty to agree with those in power.
LUDWIG VON MISES

Agree Liberty Meaningless Only Power
Those who are asking for more government interference are asking ultimately for more compulsion and less freedom.
LUDWIG VON MISES

Ask Freedom Government Interference More Peace Ultimately War
The real bosses in the capitalist system of market economy are the consumers. They by their buying and by their abstention from buying decide who should own the capital and run the plants. They determine what should be produced and in what quantity and quality.
LUDWIG VON MISES

Attitude Boss Capital Consumer Economic Market Real Running System
Government cannot make man richer, but it can make him poorer.
LUDWIG VON MISES

Government Make Poorer Richer
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 issue is always the same: the government or the market. There is no third solution.
LUDWIG VON MISES

Always Government Issues Liberty Solution
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 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
There is no means by which anyone can evade his personal responsibility.
LUDWIG VON MISES

Anyone Evade Mean Personal Responsibility
What the advocates of these tax rates fail to realize is that the greater part of the incomes taxed away would not have been consumed but saved and invested.
LUDWIG VON MISES

Advocate Consumed Greater Income Invest Tax
The struggle for freedom is not the struggle of the many against the few, but of minorities, sometimes of a minority of but one man gainst the majority.
LUDWIG VON MISES

Against Gainst Man Men Minority Struggle Survival
The worship of the state is the worship of force. There is no more dangerous menace to civilization than a government of incompetent, corrupt, or vile men.
LUDWIG VON MISES

Civilization Evil Force Men State Worship

The gold standard did not collapse. Governments abolished it in order to pave the way for inflation.

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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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