Quote by Ludwig von Mises on Artificial Booms and Economic Crises

„True, governments can reduce the rate of interest in the short run. They can issue additional paper money. They can open the way to credit expansion by the banks. They can thus create an artificial boom and the appearance of prosperity. But such a boom is bound to collapse soon or late and to bring about a depression.“

Ludwig von MisesLudwig von Mises warns against artificial economic booms that can lead to depressions and crises.
PreviousNext

Ludwig von Mises was an Austrian economist, social philosopher, and one of the leading figures of the Austrian School of economics.

This statement by Ludwig von Mises criticizes short-term economic policies that create artificial booms but ultimately lead to crises.


Translation or original: 🇩🇪Click here

Quelle: Hier klicken

i

3.0 / 5

Quote by Ludwig von Mises about artificial booms and economic crises

Ludwig von Mises (1881–1973) was a prominent Austrian economist and social philosopher, known for his contributions to the Austrian School of economics. He significantly influenced libertarian and free-market economic theory and was a critic of socialism and interventionism.

Quote by Ludwig Heinrich Edler von Mises about dangers of monetary policy and bankingCopyright © yoice.net – Quote Artwork
/
0 Comments
"Through the artifices of banking and monetary policy one can achieve only a temporary illusion of improvement, which must ultimately lead to an even more severe catastrophe. For the longer this artificial boom is sustained by the creation of additional credit, the greater the damage inflicted on general prosperity by the use of such measures." Ludwig Heinrich Edler von Mises
Read more
Quote by Henry Hazlitt about inflation and its unavoidable economic consequencesCopyright © yoice.net – Quote Artwork
/
0 Comments
"If a government resorts to inflation, that is, creates money in order to cover its budget deficits or expands credit in order to stimulate business, then no power on earth, no gimmick, device, trick or even indexation can prevent its economic consequences." Henry Hazlitt
Read more
Quote by Ludwig von Mises about credit expansion and economic crisesCopyright © yoice.net – Quote Artwork
/
0 Comments
"There is no way to prevent the final collapse of a boom generated by credit expansion. The only alternative is either an earlier crisis resulting from the voluntary termination of credit expansion, or a later, final, and total catastrophe for the currency system involved." Ludwig von Mises
Read more
Murray Rothbard quote about government money creation and inflationCopyright © yoice.net – Quote Artwork
/
0 Comments
"If government manages to establish paper tickets or bank credit as money, as equivalent to gold grams or ounces, then the government, as dominant money-supplier, becomes free to create money costlessly and at will. As a result, this 'inflation' of the money supply destroys the value of the dollar or pound, drives up prices, cripples economic calculation, and hobbles and seriously damages the workings of the market economy." Murray Rothbard
Read more
Hans-Hermann Hoppe quote about why more paper money does not make society richerCopyright © yoice.net – Quote Artwork
/
0 Comments
"More paper money cannot make a society richer, of course, – it is just more printed-paper. Otherwise, why is it that there are still poor countries and poor people around? But more money makes its monopolistic producer (the central bank) and its earliest recipients (the government and big, government-connected banks and their major clients) richer at the expense of making the money's late and latest receivers poorer." Hans-Hermann Hoppe
Read more
0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Quote by Ludwig von Mises on the Role and Power of the StateLudwig von Mises quote about scrutinizing the power and functions of the stateCopyright © yoice.net – Quote ArtworkAlbert Jay Nock quote image about useless knowledge and public opinionCopyright © yoice.net – Quote ArtworkAlbert Jay Nock Quote on Useless Knowledge and Public Opinion