Quote

Economic theory has demonstrated in an irrefutable way that a prosperity created by an expansionist monetary and credit policy is illusory and must end in a slump, an economic crisis.

Ludwig von Mises

Change background

T
T
T

Change font

TAGS & TOPICS

Ludwig von Mises
Age: 92 †
Born: 1881
Born: September 29
Died: 1973
Died: October 10
Economist
Philosopher
University Teacher
Writer
Lemberg
Austria
Ludwig Heinrich Edler von Mises
Ludwig Heinrich Mises
Economic
Demonstrated
Ends
Monetary
Must
Prosperity
Way
Credit
Expansionist
Crisis
Irrefutable
Created
Slump
Theory
Slumps
Policy
Illusory

More quotes by Ludwig von Mises

Image
Sovereignty must not be used for inflicting harm on anyone, whether citizen or foreigner.
Ludwig von Mises
Image
The history of mankind is the history of ideas.
Ludwig von Mises
Image
There is no other planning for freedom and general welfare than to let the market system work.
Ludwig von Mises
Image
Manufacturing and commercial monopolies owe their origin not to a tendency imminent in a capitalist economy but to governmental interventionist policy directed against free trade and laissez faire.
Ludwig von Mises
Image
Nothing, however, is as ill founded as the assertion of the alleged equality of all members of the human race.
Ludwig von Mises
Image
As the science of economics...exploded the fallacies of every brand of utopianism, it was outlawed and stigmatized as unscientific.
Ludwig von Mises
Image
Servile labour disappeared because it could not stand the competition of free labour its un-profitability sealed its doom in the market economy.
Ludwig von Mises
Image
Every government intervention [in the marketplace] creates unintended consequences, which lead to calls for further government interventions.
Ludwig von Mises
Image
You have the courage to tell the masses what no politician told them: you are inferior and all the improvements in your conditions which you simply take for granted you owe to the effort of men who are better than you. If this be arrogance, as some of your critics observed, it is still the truth that had to said in the age of the Welfare State.
Ludwig von Mises
Image
All people, entrepreneurs as well as non-entrepreneurs, look askance upon any profits earned by other people. Envy is a common weakness of men. People are loath to acknowledge the fact that they themselves could have earned profits if they had displayed the same foresight and judgment the successful businessman did.
Ludwig von Mises
Image
Not mythical material productive forces, but reason and ideas determine the course of human affairs. What is needed to stop the trend toward socialism and despotism is common-sense and moral courage.
Ludwig von Mises
Image
What is called economic progress is the joint effect of the activities of the three progressive groups-or classes-of the savers, the scientist-inventors, and the entrepreneurs, operating in a market economy as far as it is not sabotaged by the endeavors of the nonprogressive majority of the routinists and the public policies supported by them.
Ludwig von Mises
Image
The Pseudo-liberals monopolize the teaching jobs at many universities. Only men who agree with them are appointed as teachers and instructors of the social sciences, and only textbooks supporting their ideas are used.
Ludwig von Mises
Image
If you increase the quantity of money, you bring about the lowering of the purchasing power of the monetary unit.
Ludwig von Mises
Image
Anarchism misunderstands the real nature of man. It would be practicable only in a world of angels and saints
Ludwig von Mises
Image
No very deep knowledge of economics is usually needed for grasping the immediate effects of a measure but the task of economics is to foretell the remoter effects, and so to allow us to avoid such acts as attempt to remedy a present ill by sowing the seeds of a much greater ill for the future.
Ludwig von Mises
Image
There prevails on a free labor market a tendency toward full employment.
Ludwig von Mises
Image
The uncouth hordes of common men are not fit to recognize duly the merits of those who eclipse their own wretchedness.
Ludwig von Mises
Image
There would not be any profits but for the eagerness of the public to acquire the merchandise offered for sale by the successful entrepreneur. But the same people who scramble for these articles vilify the businessman and call his profit ill-got.
Ludwig von Mises
Image
The state can be and has often been in the course of history the main source of mischief and disaster.
Ludwig von Mises