Capitalism or market economy is that system of social cooperation and division of labor that is based on private ownership of the means of production.
Ludwig von MisesThe 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 MisesThe only source from which an entrepreneurs profits stem is his ability to anticipate better than other people the future demand of the consumers.
Ludwig von Mises