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 MISESState 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.
More Ludwig von Mises Quotes
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The causes of all panics, crashes and depressions can be summed up in only four words: the misuse of credit.
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Under capitalism everybody is the architect of his own fortune.
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The only source from which an entrepreneurs profits stem is his ability to anticipate better than other people the future demand of the consumers.
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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.
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He who serves the public best, makes the highest profits.
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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.
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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.
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The whole grim apparatus of oppression and coercion, policemen, customs guards, penal courts, prisons, in some countries even executioners, had to be put into action in order to destroy the gold standard.
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For them the main thing is not to improve the conditions of the masses, but to harm the entrepreneurs and capitalists even if this policy victimizes the immense majority of the people.
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The root of the evil is not the construction of new, more dreadful weapons. It is the spirit of conquest.
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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!
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Freedom really means the freedom to make mistakes.
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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.
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The characteristic feature of a free society is that it can function in spite of the fact that its members disagree in many judgments of value.
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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