Capitalism Quote by Ludwig von Mises
“The recurrence of periods of depression and mass unemployment has discredited capitalism in the opinion of injudicious people. Yet these events are not the outcome of the operation of the free market. They are on the contrary the result of well-intentioned but ill-advised government interference with the market.”
About This Quote
Source Book: Human Action by Ludwig von Mises, 1949
Depression and unemployment are blamed on capitalism, but stem from misguided government interference.
In simple terms: Economic crises are caused by bad policies, not free markets.
Key Takeaway
Advocate for limited government intervention.
Themes
economics
government
market failures
Mood
thoughtful
inquisitive
Type
economic
philosophical
When to use this quote
- policy design
- economic forecasting
- public education
Key Concepts
liberalism
interventionism
Questions to Reflect On
- Is any government role ever justified?
- What safeguards prevent policy errors?
A Different Perspective
Free markets can also fail without regulation.
![“Neither Italian fascism nor German national "socialism" have anything in common with such a [Soviet socialistic] society, primarily because private ownership of factories, plants, lands, banks, means of transportation, etc., remain untouched there, and, therefore, capitalism in Germany and Italy…” quote by Joseph Stalin](https://sms4smile.com/quotes/img-quotes/411/joseph-stalin-1734_capitalism_neither-italian-fascism-nor-german-natio_1430.jpg)
