Notwithstanding all the passionate fulminations of the spokesmen of governments, the inevitable consequences of inflationism and expansionism...are coming to pass. And then, very late indeed, even simple people will discover that Keynes did not teach us how to perform the 'miracle...of turning a stone into bread,' but the not at all miraculous procedure of eating the seed corn.
Ludwig von MisesMany who are self-taught far excel the doctors, masters, and bachelors of the most renowned universities.
Ludwig von MisesThe study of economics has been again and again led astray by the vain idea that economics must proceed according to the pattern of other sciences.
Ludwig von MisesThe government and its chiefs do not have the powers of the mythical Santa Claus. They cannot spend except by taking out of the pockets of some people for the benefit of others.
Ludwig von MisesIs still fulfilling its social function in supplying the consumers with more, better and cheaper goods.
Ludwig von MisesThe financial history of the last century shows a steady increase in the amount of public indebtedness. Nobody believes that the states will eternally drag the burden of these interest payments. It is obvious that sooner or later all these debts will be liquidated in some way or other, but certainly not by payment of interest and principal according to the terms of the contract.
Ludwig von MisesCapitalism and socialism are two distinct patterns of social organization. Private control of the means of production and public control are contradictory notions and not merely contrary notions. There is no such thing as a mixed economy, a system that would stand midway between capitalism and socialism.
Ludwig von Mises