What is needed for a sound expansion of production is additional capital goods, not money or fiduciary media. The credit expansion is built on the sands of banknotes and deposits. It must collapse.
Ludwig von MisesA wealthy man can preserve his wealth only by continuing to serve the consumers in the most efficient way.
Ludwig von MisesIf you increase the quantity of money, you bring about the lowering of the purchasing power of the monetary unit.
Ludwig von MisesWhat people today call inflation is not inflation, i.e., the increase in the quantity of money and money substitutes, but the general rise in commodity prices and wage rates which is the inevitable consequence of inflation.
Ludwig von MisesThe main achievement of economics is that it has provided a theory of peaceful human cooperation. This is why the harbingers of violent conflict have branded it as a dismal science and why this age of wars, civil wars, and destruction has no use for it.
Ludwig von MisesYou know that the population is of this planet is now ten times greater than it was in the ages preceding capitalism.; you know that all men today enjoy a higher standard of living than your ancestors did before the age of capitalism. But how do you know that you are the one out of ten who would have lived in the absence of capitalism? The mere fact that you are living today is proof that capitalism has succeeded, whether or not you consider your own life very valuable.
Ludwig von Mises