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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
He who is unfit to serve his fellow citizens wants to rule them.
LUDWIG VON MISES

Citizen Fellow Rule Them Until Want
The so-called liberals of today have the very popular idea that freedom of speech, of thought, of the press, freedom of religion, freedom from imprisonment without trial-that all these freedoms can be preserved in the absence of what is called economic freedom.
LUDWIG VON MISES

Call Freedom Liberal Popular Press Religion Speech Though Today
Planning other people’s actions means to prevent them from planning for themselves, means to deprive them of their essentially human quality, means enslaving them.
LUDWIG VON MISES

Authoritarian Create Enslave Limit Operation Private Property Set
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
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
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
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
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
The riches of the rich are not the cause of the poverty of anybody; the process that makes some people rich is, on the contrary, the corollary of the process that improves many peoples want satisfaction.
LUDWIG VON MISES

Anybody Cause Contrary Corollary Entrepreneur Make People Poverty Process Rich Some Want
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
The interventionists do not approach the study of economic matters with scientific disinterestedness. Most of them are driven by an envious resentment against those whose incomes are larger than their own. This bias makes it impossible for them to see things as they really are.
LUDWIG VON MISES

Approach Distinteretedness Economic Entrepreneur Interventionist Liberty Matter People Scientific Study
The criterion of truth is that it works even if nobody is prepared to acknowledge it.
LUDWIG VON MISES

Acknowledge Criteria Criterion Prepare Truth
[E]conomic history is a long record of government policies that failed because they were designed with a bold disregard for the laws of economics
LUDWIG VON MISES

Bold Design Disregard Economic Fail History Law Long Political Record
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
Economics is not about things and tangible material objects; it is about men, their meanings and actions.
LUDWIG VON MISES

Action Economics Meaning Men Motivational Object Success

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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