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The most important thing to remember is that inflation is not an act of God, that inflation is not a catastrophe of the elements or a disease that comes like the plague. Inflation is a policy.

Ludwig von Mises

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Act God Important Inflation Most Remember Things

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[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
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 criterion of truth is that it works even if nobody is prepared to acknowledge it.
LUDWIG VON MISES

Acknowledge Criteria Criterion Prepare Truth
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
Society has arisen out of the works of peace; the essence of society is peacemaking. Peace and not war is the father of all things.
LUDWIG VON MISES

Arisen Essence Father Make Out Peace Society War Work
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
Under capitalism everybody provides for their own needs by serving others.
LUDWIG VON MISES

Capitalism Everybody Need Other Provide Serving Under
What the advocates of these tax rates fail to realize is that the greater part of the incomes taxed away would not have been consumed but saved and invested.
LUDWIG VON MISES

Advocate Consumed Greater Income Invest Tax
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 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
It is vain to fight totalitarianism by adopting totalitarian methods. Freedom can only be won by men unconditionally committed to the principles of freedom.
LUDWIG VON MISES

Adopt Fight Method Totalitarian Vain
The liars must be afraid of the truth and are therefore driven to suppress its pronouncement.
LUDWIG VON MISES

Afraid Driven Liar Pronouncement Suppress
A higher standard of living also brings about a higher standard of culture and civilization.
LUDWIG VON MISES

Civilization Cultural Higher Living Standard
The standard of living of the common man is higher in those countries which have the greatest number of wealthy entrepreneurs.
LUDWIG VON MISES

Common Country Entrepreneur Higher Man Men Number Standard
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 most important thing to remember is that inflation is not an act of God, that inflation is not a catastrophe of the elements or a disease that comes like the plague. Inflation is a policy.
LUDWIG VON MISES

Act God Important Inflation Most Remember Things
All they did was to call their adversaries names and cast suspicion upon their motives. And, unfortunately, the average citizen cannot see through these stratagems.
LUDWIG VON MISES

Adversaries Average Call Name Stratagem Suspicion Unfortunately
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
It is important to remember that government interference always means either violent action or the threat of such action.
LUDWIG VON MISES

Action Important Mean Men Prison Guard Remember Threat Violent
Freedom is indivisible. As soon as one starts to restrict it, one enters upon a decline on which it is difficult to stop.
LUDWIG VON MISES

Difficult Enter Freedom Indivisible One Restrict Soon Start Stop
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.
LUDWIG VON MISES

Capitalism Condition Entrepreneur Immerse Improve Majority People
The entrepreneurs, the capitalists and the technologists prosper as far as they succeed in best supplying the consumers.
LUDWIG VON MISES

Capitalist Consumer Entrepreneur Succeed Supply Technologies
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
Tyranny is the political corollary of socialism, as representative government is the political corollary of the market economy.
LUDWIG VON MISES

Corollary Economic Government Market Political Representative Socialism
The Welfare State is merely a method for transforming the market economy step by step into socialism.
LUDWIG VON MISES

Market Misery Socialism State Step Transform Welfare
The gold standard makes the money’s purchasing power independent of the changing, ambitions and doctrines of political parties and pressure groups. This is not a defect of the gold standard; it is its main excellence.
LUDWIG VON MISES

Ambition Change Defeat Doctrine Excellent Independent Make Money Party Political Purchase Standard

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