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Depression is the aftermath of credit expansion.
Ludwig von Mises
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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
Credit
Aftermath
Expansion
Depression
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Men are fighting one another because they are convinced that the extermination and liquidation of adversaries is the only means of promoting their own well-being.
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The market is not a place, a thing, or a collective entity. The market is a process, actuated by the interplay of the actions of the various individuals cooperating under the division of labor.
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A nation, therefore, has no right to say to a province: You belong to me, I want to take you. A province consists of its inhabitants. If anybody has a right to be heard in this case it is these inhabitants. Boundary disputes should be settled by plebiscite.
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The egalitarian doctrine is manifestly contrary to all the facts established by biology and by history. Only fanatical partisans of this theory can contend that what distinguishes the genius from the dullard is entirely the effect of postnatal influences.
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Progress is precisely that which rules and regulations did not foresee.
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Against nature and within nature there is no freedom.
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He who only wishes and hopes does not interfere actively with the course of events and with the shaping of his own destiny.
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