Quote

The boom is called good business, prosperity, and upswing. Its unavoidable aftermath, the readjustment of conditions to the real data of the market, is called crisis, slump, bad business, depression.

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
Business
Boom
Real
Depression
Good
Data
Upswing
Prosperity
Readjustment
Market
Slump
Crisis
Slumps
Conditions
Unavoidable
Called
Aftermath

More quotes by Ludwig von Mises

Image
There is simply no other choice than this: either to abstain from interference in the free play of the market, or to delegate the entire management of production and distribution to the government. Either capitalism or socialism: there exists no middle way.
Ludwig von Mises
Image
The alcoholic and the drug addict harm only themselves by their behavior the person who violates the rules of morality governing mans life in society harms not only himself, but everyone.
Ludwig von Mises
Image
Permanent mass unemployment destroys the moral foundations of the social order. The young people, who, having finished their training for work, are forced to remain idle, are the ferment out of which the most radical political movements are formed. In their ranks the soldiers of the coming revolutions are recruited.
Ludwig von Mises
Image
The gold standard makes the money's purchasing power independent of the changing, ambitions and doctrines of political parties and pressure groups. This is not a defect of the gold standard it is its main excellence.
Ludwig von Mises
Image
When we call a capitalist society a consumers democracy we mean that the power to dispose of the means of production, which belongs to the entrepreneurs and capitalists, can only be acquired by means of the consumers ballot, held daily in the marketplace.
Ludwig von Mises
Image
Tyranny is the political corollary of socialism, as representative government is the political corollary of the market economy.
Ludwig von Mises
Image
Where there is no market economy, the best intentioned provisions of constitutions and laws remain a dead letter.
Ludwig von Mises
Image
In spite of the anticapitalistic policies of all governments and of almost all political parties, the capitalist mode of production
Ludwig von Mises
Image
How pale is the art of sorcerers, witches, and conjurors when compared with that of the government's Treasury Department!
Ludwig von Mises
Image
Freedom is indivisible. As soon as one starts to restrict it, one enters upon a decline on which it is difficult to stop.
Ludwig von Mises
Image
What impels every man to the utmost exertion in the service of his fellow man. Is, in the market not compulsion on the part of gendarmes, hangmen and penal courts, it is self interest.
Ludwig von Mises
Image
As soon as the economic freedom which the market economy grants to its members is removed, all political liberties and bills of rights become humbug.
Ludwig von Mises
Image
All this talk: the state should do this or that, ultimately means: the police should force consumers to behave otherwise than they would behave spontaneously.
Ludwig von Mises
Image
To defeat the aggressors is not enough to make peace durable. The main thing is to discard the ideology that generates war.
Ludwig von Mises
Image
It is certain that many intellectuals envy the higher income of prosperous businessmen and that these feelings drive them toward socialism. They believe that the authorities of a socialist commonwealth would pay them higher salaries than those that they earn under capitalism.
Ludwig von Mises
Image
There is, in fact, only one solution: the state, the government, the laws must not in any way concern themselves with schooling or education. Public funds must not be used for such purposes. The rearing and instruction of youth must be left entirely to parents and to private associations and institutions
Ludwig von Mises
Image
There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.
Ludwig von Mises
Image
A higher standard of living also brings about a higher standard of culture and civilization.
Ludwig von Mises
Image
The desire for an increase of wealth can be satisfied through exchange, which is the only method possible in a capitalist economy, or by violence and petition as in a militarist society, where the strong acquire by force, the weak by petitioning.
Ludwig von Mises
Image
Profits are the driving force of the market economy. The greater the profits, the better the needs of the consumers are supplied... He who serves the public best, makes the highest profits.
Ludwig von Mises