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Inflation is an increase in the quantity of money without a corresponding increase in the demand for money, i.e., for cash holdings.

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
Increase
Demand
Money
Without
Holdings
Corresponding
Inflation
Quantity
Cash

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The final outcome of the credit expansion is general impoverishment.
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Our whole civilization rests on the fact that men have always succeeded in beating off the attack of the re-distributors.
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There is no kind of freedom and liberty other than the kind which the market economy brings about.
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The genuine history of mankind is the history of ideas. It is ideas that distinguish man from all other beings. Ideas engender social institutions, political changes, technologi- cal methods of production, and all that is called economic conditions.
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To the grumbler who complains about the unfairness of the market system only one piece of advice can be given: If you want to acquire wealth, then try to satisfy the public by offering them something that is cheaper or which they like better....Equality under the law gives you the power to challenge every millionaire.
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During the 2300 years since Plato, very little opposition has been registered to his ideas.
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The foundation of any and every civilization, including our own, is private ownership of the means of production. Whoever wishes to criticize modern civilization, therefore, begins with private property.
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Economic progress is the work of the savers, who accumulate capital, and of the entrepreneurs, who turn capital to new uses.
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The standard of living of the common man is higher in those countries which have the greatest number of wealthy entrepreneurs.
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Progressive taxation of income and profits means that precisely those parts of the income which people would have saved and invested are taxed away
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Every government intervention [in the marketplace] creates unintended consequences, which lead to calls for further government interventions.
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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.
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The idea of Socialism is at once grandiose and simple. . .We may say, in fact, that it is one of the most ambitious creations of the human spirit, . . .so magnificent, so daring, that it has rightly aroused the greatest admiration. If we wish to save the world from barbarism we have to refute Socialism, but we cannot thrust it carelessly aside.
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The boom squanders through malinvestment scarce factors of production and reduces the stock available through overconsumption its alleged blessings are paid for by impoverishment.
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The prevailing legal and moral views of a time are held not only by those whom they benefit but by those, too, who appear to suffer from them. Their domination is expressed in that fact- that the people from whom they claim sacrifice accept them.
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Freedom is indivisible. As soon as one starts to restrict it, one enters upon a decline on which it is difficult to stop.
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Those who disagree with the dictator's plan have no other means to carry on than to defeat the despot by force of arms.
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Inflation has always been an important resource of policies of war and revolution and why we also find it in the service of socialism.
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All those evils which the [liberals] interpret as evidence of the failure of capitalism, are the necessary outcome of interference with the market.
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The real bosses, in the capitalist system of market economy, are the consumers.
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