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Depression is the aftermath of credit expansion.

Ludwig von Mises

Related Topics

Aftermath Credit Depression Expansion

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As conditions are today, nothing can be more important to every intelligent man than economics. His own fate and that of his progeny are at stake.
LUDWIG VON MISES

Condition Economic Important Intelligent Own Progeny Stake
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
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
In such vital matters blind reliance upon ‘experts’ and uncritical acceptance of popular catchwords and prejudices is tantamount to the abandonment of self-determination and to yielding to other people’s domination.
LUDWIG VON MISES

Catchwork Domination Matter Other Person Popular Reliance Vital Yield
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
The gold standard did not collapse. Governments abolished it in order to pave the way for inflation.
LUDWIG VON MISES

Abolish Collapse Country Gold Government Inflation Order Pave Wave
The causes of all panics, crashes and depressions can be summed up in only four words: the misuse of credit.
LUDWIG VON MISES

Causes Crash Credit Depression Four Panic Summed
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
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
Liberty is meaningless if it is only the liberty to agree with those in power.
LUDWIG VON MISES

Agree Liberty Meaningless Only Power
Under capitalism everybody is the architect of his own fortune.
LUDWIG VON MISES

Architect Capitalism Character Fortune Kwanzaa Own
There is no means by which anyone can evade his personal responsibility.
LUDWIG VON MISES

Anyone Evade Mean Personal Responsibility
Economic progress is the work of the savers, who accumulate capital, and of the entrepreneurs, who turn capital to new uses.
LUDWIG VON MISES

Accumulate Capital Economic Entrepreneur Progress Saver Turn
The truth is that the government cannot give if it does not take from somebody…It is not in the power of the government to make everybody more prosperous.
LUDWIG VON MISES

Doe Giving Government Somebody Truth
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
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.
LUDWIG VON MISES

Autonomy Freedom Individual Intellectual Nurture Progress Root Soil Ultimately

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