There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether… — Ludwig von Mises Copy Share Image
Credit expansion can bring about a temporary boom. But such a fictitious prosperity must end in a general depression of trade, a… — Ludwig von Mises Copy Share Image
One day, because they realize for some reason or other that they must stop credit expansion, the banks do stop creating new… — Ludwig von Mises Copy Share Image
Economic theory has demonstrated in an irrefutable way that a prosperity created by an expansionist monetary and credit policy is illusory and… — Ludwig von Mises Copy Share Image
No one should expect that any logical argument or any experience could ever shake the almost religious fervor of those who believe… — Ludwig von Mises Copy Share Image
The final outcome of the credit expansion is general impoverishment. — Ludwig von Mises Copy Share Image
Library of the Works of Ludwig von Mises”. Here is an article he wrote in 1951, some two years after his magnum… — Ludwig von Mises Copy Share Image
Once public opinion is convinced that the increase in the quantity of money will continue and never come to an end, and… — Ludwig von Mises Copy Share Image
The causes of all panics, crashes and depressions can be summed up in only four words: the misuse of credit. — Ludwig von Mises Copy Share Image
True, governments can reduce the rate of interest in the short run. They can issue additional paper money. They can open the… — Ludwig von Mises Copy Share Image
Credit expansion is the governments' foremost tool in their struggle against the market economy. In their hands it is the magic wand… — Ludwig von Mises Copy Share Image
Government policies try to prevent the emergence of serious unemployment by credit expansion, i.e., inflation. The outcome was rising prices, renewed demands… — Ludwig von Mises Copy Share Image
What is needed for a sound expansion of production is additional capital goods, not money or fiduciary media. The credit expansion is… — Ludwig von Mises Copy Share Image
What governments call international monetary cooperation is concerted action for the sake of credit expansion. — Ludwig von Mises Copy Share Image
If the members of parliament no longer consider themselves mandatories of the taxpayers but deputies of those receiving salaries, wages, subsidies, doles, and other… — Ludwig von Mises Copy Share Image
Changes in human conditions are brought about by the pioneering of the cleverest and most energetic men. They take the lead and the rest… — Ludwig von Mises Copy Share Image
During the 2300 years since Plato, very little opposition has been registered to his ideas. — Ludwig von Mises Copy Share Image
“How little one is justified in speaking in this connection of "optimism" and "pessimism" and how much the characterization of liberalism as "optimistic" aims… — Ludwig von Mises Copy Share Image
Every step by which an individual substitutes concerted action for isolated action results in an immediate and recognizable improvement in his conditions. The advantages… — Ludwig von Mises Copy Share Image
The capitalistic social order, therefore, is an economic democracy in the strictest sense of the word. In the last analysis, all decisions are dependent… — Ludwig von Mises Copy Share Image
Without calculation, economic activity is impossible. Since under Socialism economic calculation is impossible, under Socialism there can be no economic activity in our sense… — Ludwig von Mises Copy Share Image
There is no kind of freedom and liberty other than the kind which the market economy brings about. — Ludwig von Mises Copy Share Image
What counts alone is the innovator, the dissenter, the harbinger of things unheard of, the man who rejects the traditional standards and aims at… — Ludwig von Mises Copy Share Image
In reality no food is valued solely for its nutritive power and no garment or house solely for the protection it affords against cold… — Ludwig von Mises Copy Share Image
All this talk: the state should do this or that, ultimately means: the police should force consumers to behave otherwise than they would behave… — Ludwig von Mises Copy Share Image
