“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
Ludwig von Mises was an Austrian economist and social philosopher, known for his contributions to the Austrian School of Economics.
This quote clearly illustrates the inevitable fate of credit boom scenarios and their profound impact on economies and currency systems.
Translation or original: 🇩🇪Click here
Quelle: Hier klicken
i
Ludwig von Mises Quotes: The Truth About Credit Booms and Economic Crises
Ludwig von Mises reveals the inevitable truth behind credit booms: Early crises or total catastrophes for currency systems.
Ludwig von Mises (1881–1973) was a prominent Austrian economist and social philosopher who significantly contributed to the development of the Austrian School of Economics. His works address topics such as capital theory, monetary theory, and economic policy. Mises warned against the dangers of state intervention and advocated for free markets and individual economic actions.
Leave a Reply
Want to join the discussion?Feel free to contribute!