A Quote by Ludwig von Mises

The unprecedented success of Keynesianism is due to the fact that it provides an apparent justification for the 'deficit spending' policies of contemporary governments. It is the pseudo-philosophy of those who can think of nothing else than to dissipate the capital accumulated by previous generations.

Ludwig von Mises

Quote Topics

Apparent Capital Contemporary Deficit Deficit Spending Due Else Fact Generations Governments Justification Keynesianism Nothing Philosophy Policies Previous Previous Generations Provides Pseudo Spending Success Than Think Those Unprecedented

Quote Author

Ludwig von Mises
Austrian - Economist
September 29, 1881 - October 10, 1973

When you look at February's (2011) deficit spending alone, and the fact that it was larger than what our total deficit spending was in 2007, the proposals that the Senate is sending us simply are ridiculous, because it's not even a solution. It doesn't address the amount of spending that we have in a week's time. We need to get serious.

Kristi Noem

But public works, economic protectionism, cheap money, "deficit-financed government spending," and "the animal spirits of the spendthrift in the service of boosting "consumption demand"... Doesn't Keynesianism simply appeal to the worst in human nature?

Ilana Mercer

Democratic governments are not delivering on their promises, which is partly due to the fact that governments are less powerful than they were after the Second World War. There were fewer governments then, but they actually had more political power.

Mary Robinson

Governments should be smaller. In fact, governments and countries in general are less important than we think they are. They take credit for processes they have nothing to do with.

Pavel Durov

Inflation is not caused by the actions of private citizens, but by the government: by an artificial expansion of the money supply required to support deficit spending. No private embezzlers or bank robbers in history have ever plundered people's savings on a scale comparable to the plunder perpetrated by the fiscal policies of statist governments.

Ayn Rand

We think we can't survive without deficit spending - but we soon won't be able to survive with deficit spending, either.

Tony Blankley

If the untimely battlefield deaths of generations of American heroes have taught us nothing else, it should be this unalterable fact: what you do with your time here on earth is far more important than the time you had to do it. Those who live most are those who love most, who act the noblest and do their best.

Michael Mullen

...deficit consumption is, in effect, drawing down on the capital entitlements of future generations

Jonathon Porritt

Remember that accumulated knowledge, like accumulated capital, increases at compound interest: but it differs from the accumulation of capital in this; that the increase of knowledge produces a more rapid rate of progress, whilst the accumulation of capital leads to a lower rate of interest. Capital thus checks it own accumulation: knowledge thus accelerates its own advance. Each generation, therefore, to deserve comparison with its predecessor, is bound to add much more largely to the common stock than that which it immediately succeeds.

Charles Babbage

The greatest threat facing America today is the disastrous fiscal policies of our own government, marked by shameless deficit spending and Federal Reserve currency devaluation. It is this one-two punch - Congress spending more than it can tax or borrow, and the Fed printing money to make up the difference - that threatens to impoverish us by further destroying the value of our dollars.

Ron Paul

It is my view that what is important is cutting government spending, however spending is financed. A so-called deficit is a disguised and hidden form of taxation. The real burden on the public is what government spends (and mandates others to spend). As I have said repeatedly, I would rather have government spend one trillion dollars with a deficit of a half a trillion than have government spend two trillion dollars with no deficit.

Milton Friedman

By restraining spending and by cutting the deficit, Republican policies are helping to keep our economy strong.

Dennis Hastert

I admit that one should never underestimate the capacity of banks to destroy enormous amounts of accumulated capital and reduce, temporarily, the supply. After all, capital is the accumulated savings of mankind. And banks are great masters in destroying enormous amounts of capital with great regularity.

Arie de Geus

One of the problems with trying to help underdogs, especially with government programs, is that they and everyone else start to think of them as underdogs, focusing on their problems rather than their opportunities. Thinking of themselves as underdogs can also dissipate their energies in resentments of others, rather than spending that energy making the most of their own possibilities.

Thomas Sowell

The emancipation of the scholars and scientists from philosophy is according to [Nietzsche] only a part of the democratic movement, i.e. of the emancipation of the low from subordination to the high. ... The plebeian character of the contemporary scholar or scientist is due to the fact that he has no reverence for himself.