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Depression is the aftermath of credit expansion.

Ludwig von Mises

Related Topics

Aftermath Credit Depression Expansion

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

Unemployment doles can have no other effect than the perpetuation of unemployment.
LUDWIG VON MISES

Effect Perpetuation Unemployment
[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
Their attitudes result either in profit or in loss for the enterpriser. They make poor men rich and rich men poor. They are no easy bosses.
LUDWIG VON MISES

Attribute Bosses Easy Make Men Profit Result Stem
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
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
All rational action is in the first place individual action. Only the individual thinks. Only the individual reasons. Only the individual acts.
LUDWIG VON MISES

Action First Rational Reason Think
The planner is a potential dictator who wants to deprive all other people of the power to plan and act according to their own plans. He aims at one thing only: the exclusive absolute preeminence of his own plan.
LUDWIG VON MISES

According Dictator Other Own People Plan Planner Potential Power Want Deprive
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
Under capitalism everybody provides for their own needs by serving others.
LUDWIG VON MISES

Capitalism Everybody Need Other Provide Serving Under
They can open the way to credit expansion by the banks. They can thus create an artificial boom and the appearance of prosperity. But such a boom is bound to collapse soon or late and to bring about a depression.
LUDWIG VON MISES

Appearance Artificial Boom Collapse Create Depression Expansion Open Soon Way
The fundamental law of the market is: the customer is always right.
LUDWIG VON MISES

Customer Fundamentals Law Right
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
Freedom really means the freedom to make mistakes.
LUDWIG VON MISES

Freedom Mean Mistake Really
The champions of socialism call themselves progressives, but they recommend a system which is characterized by rigid observance of routine and by a resistance to every kind of improvement.
LUDWIG VON MISES

Bless Championship Characteristics Garden Men Observation Progressive Recommend Routine Socialism System
State interference in economic life, which calls itself economic policy, has done nothing but destroy economic life. Prohibitions and regulations have by their general obstructive tendency fostered the growth of the spirit of wastefulness.
LUDWIG VON MISES

Call Destroy Done Economic Growth Interfere Life Nothing Policy Regulation State
He who is unfit to serve his fellow citizens wants to rule them.
LUDWIG VON MISES

Citizen Fellow Rule Them Until Want

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