The market is a democracy in which every penny gives a right to vote.
LUDWIG VON MISESGerman Marxian’s coined the dictum: If socialism is against human nature, then human nature must be changed.
More Ludwig von Mises Quotes
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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.
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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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Government is in the last resort the employment of armed men, of policemen, gendarmes, soldiers, prison guards, and hangmen.
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It is vain to fight totalitarianism by adopting totalitarian methods. Freedom can only be won by men unconditionally committed to the principles of freedom.
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The fundamental law of the market is: the customer is always right.
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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.
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There is no means of avoiding the final collapse of a boom brought about by credit expansion.
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Depression is the aftermath of credit expansion.
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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.
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Socialism is not in the least what it pretends to be. It is not the pioneer of a better and finer world, but the spoiler of what thousands of years of civilization have created. It does not build, it destroys.
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Every government intervention [in the marketplace] creates unintended consequences, which lead to calls for further government interventions.
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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.
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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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Inflation is the fiscal complement of statism and arbitrary government. It is a cog in the complex of policies and institutions which gradually lead toward totalitarianism .
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If you increase the quantity of money, you bring about the lowering of the purchasing power of the monetary unit.
LUDWIG VON MISES