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The final outcome of the credit expansion is general impoverishment.
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
Outcomes
Final
Finals
Credit
General
Politics
Impoverishment
Outcome
Expansion
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It is the rule of law alone which hinders the rulers from turning themselves into the worst gangsters.
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As the science of economics...exploded the fallacies of every brand of utopianism, it was outlawed and stigmatized as unscientific.
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History has witnessed the failure of many endeavors to impose peace by war, cooperation by coercion, unanimity by slaughtering dissidents.... A lasting order cannot be established by bayonets.
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Scientific criticism has no nobler task than to shatter false beliefs.
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If the government objects to monopoly prices for new inventions, it should stop granting patents.
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In the world of reality, life, and human action there is no such thing as interests independent of ideas, preceding them temporarily and logically. What a man considers his interest is the result of his ideas.
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Lenin's ideal was to build a nation's production effort according to the model of the post office.
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During the 2300 years since Plato, very little opposition has been registered to his ideas.
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The capitalist system of production is an economic democracy in which every penny gives a right to vote. The consumers are the sovereign people. The capitalists, the entrepreneurs, and the farmers are the people's mandatories. If they do not obey, if they fail to produce, at the lowest possible cost, what
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Man is born an asocial and antisocial being. The newborn child is a savage. Egoism is his nature. Only the experience of life and the teachings of his parents, his brothers, sisters, playmates, and later of other people FORCE HIM to acknowledge the advantages of social cooperation and accordingly to change his behavior.
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