Library of the Works of Ludwig von Mises”. Here is an article he wrote in 1951, some two years after his magnum opus Human Action appeared, where is lays out his case in a more popular form. The money sentences are “Economic theory has demonstrated in an irrefutable way that a prosperity created by an expansionist monetary and credit policy is illusory and must end in a slump, an economic crisis. It has happened again and again in the past, and it will happen in the future, too.

Under a socialist mode of production all personal incentives which selfishness provides under capitalism are removed, and a premium is put upon laziness and negligence. Whereas in a capitalist society selfishness incites everyone to the utmost diligence, in a socialist society it makes for inertia and laxity.

The market system is the basis of our civilization. Its only alternative is the Führer principle.

Continued inflation inevitably leads to catastrophe.

Socialist society is a society of officials.

American authors or scientists are prone to consider the wealthy businessman as a barbarian, as a man exclusively intent upon making money.

Every specific tax, as well as the nation's whole tax system, becomes self-defeating above a certain height of the rates.