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Depression is the aftermath of credit expansion.

Ludwig von Mises

Related Topics

Aftermath Credit Depression Expansion

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All people, however fanatical they may be in their zeal to disparage and to fight capitalism, implicitly pay homage to it by passionately clamoring for the products it turns out
LUDWIG VON MISES

Capitalism Fanatical Fighting Homage Implicity Liberty Passionately People Zeal
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
Under capitalism everybody provides for their own needs by serving others.
LUDWIG VON MISES

Capitalism Everybody Need Other Provide Serving Under
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 truth is that most people lack the intellectual ability and courage to resist a popular movement, however pernicious and ill-considered.
LUDWIG VON MISES

Consider Courage Intelectual Most Movement People Popular Truth
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
Liberty is meaningless if it is only the liberty to agree with those in power.
LUDWIG VON MISES

Agree Liberty Meaningless Only Power
A society that chooses between capitalism and socialism does not choose between two social systems; it chooses between social cooperation and the disintegration of society. Socialism is not an alternative to capitalism; it is an alternative to any system under which men can live as human beings.
LUDWIG VON MISES

Between Capitalism Choose Socialism Society System
The real bosses, in the capitalist system of market economy, are the consumers.
LUDWIG VON MISES

Boss Capital Consumer Market System
Private property creates for the individual a sphere in which he is free of the state. It sets limits to the operation of the authoritarian will.
LUDWIG VON MISES

Authoritarian Create Individual Limit Operation Private Spheres State
Government is in the last resort the employment of armed men, of policemen, gendarmes, soldiers, prison guards, and hangmen.
LUDWIG VON MISES

Arm Employment Gendarme Government Hangmen Last Prison Resort Soldier
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
The first requisite for a better social order is the return to unrestricted freedom of thought and speech.
LUDWIG VON MISES

First Freedom Order Requistle Return Speech Unrestricted
There is no means of avoiding the final collapse of a boom brought about by credit expansion.
LUDWIG VON MISES

Avoid Boom Collapse Credit Expansion Final Liberty Mean
To the masses, the catchwords of Socialism sound so enticing… so they will continue to work for Socialism, helping thereby to bring about the inevitable decline of the civilization which the nations of the West have taken thousands of years to build up.
LUDWIG VON MISES

Catchword Civilization Continue Help Inciting Mass Socialism Sound Taken Work Year
Taxing profits is tantamount to taxing success.
LUDWIG VON MISES

Profit Success Tantamount Tax

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