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.

The essence of democracy is not that everyone makes and administers laws but that lawgivers and rulers should be dependent on the people's will in such a way that they may be peaceably changed if conflict occurs.

It is not the fault of the entrepreneurs that the consumers,the people, the common man,prefer liquor to Bibles and detective stories to serious books, and that governments prefer guns to butter. The entrepreneur does not make greater profits in selling bad things than in selling good things. His profits are the greater the better he succeeds in providing the consumers with those things they ask for most intensely.

Welfare policies never attain those - allegedly beneficial - ends which the government and the self-styled progressives who advocated them wanted to attain, but - on the contrary - bring about a state of affairs which - from the very point of view of the government and its supporters - is even more unsatisfactory than the previous state of affairs they wanted to 'improve.'

Liberty is always freedom from the government.

Progress of any kind is always at variance with the old and established ideas and therefore with the codes inspired by them. Every step of progress is a change involving heavy risks.

Historical knowledge is indispensable for those who want to build a better world