“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
Ludwig Heinrich Edler von Mises (1881-1973) was an Austrian-American economist and a leading figure of the Austrian School of economics.
This quote warns against the short-term illusions created by banking policies and highlights the long-term risks to the economy.
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Ludwig von Mises Quotes: Warnings About the Dangers of Monetary Policy You Must Know!
Ludwig von Mises warns against short-term illusions in monetary policy and their long-term catastrophic consequences for the national economy.
Ludwig Heinrich Edler von Mises was an influential Austrian-American economist known for his work on monetary theory and business cycles, as well as his critique of interventionism and socialism. He is considered a key figure of the Austrian School of economics and significantly influenced modern libertarian economic thought.
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