A Quote by Ludwig von Mises

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.

Ludwig von Mises

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Created Credit Crisis Economic Economic Crisis Economic Theory End Illusory Monetary Must Policy Prosperity Slump Theory Way

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

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.

Ludwig von Mises

My interest in economics has always been in the whole corpus of economic theory, the interrelationships between the various fields of theory and their relevance for the formulation of economic policy.

James Meade

I am shocked that Republicans can't explain why our technological and economic advantages are the result of sound monetary and economic policy.

Jack Kemp

Credit expansion can bring about a temporary boom. But such a fictitious prosperity must end in a general depression of trade, a slump.

Ludwig von Mises

From the Great Depression, to the stagflation of the seventies, to the current economic crisis caused by the housing bubble, every economic downturn suffered by this country over the past century can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial 'boom' followed by a recession or depression when the Fed-created bubble bursts.

Ron Paul

Now it is unambiguously clear that trickle-down economics does not work. But what does that mean? That means we have to structure our economic policies to make sure that we have shared prosperity. And you don't do that by giving a tax cut to the big winners and raising taxes on those who have not done very well. Your economic policy has to respond to the way our economic system has been working.

Joseph Stiglitz

If I am confirmed, I am confident that my colleagues on the Federal Open Market Committee and I will maintain the focus on long-term price stability as monetary policy's greatest contribution to general economic prosperity and maximum employment.

Ben Bernanke

Beyond monetary policy, fiscal policy has traditionally played an important role in dealing with severe economic downturns.

Janet Yellen

When there's downward pressure on growth, one choice is to adjust economic policy, increase deficits, relax monetary policy. That might have a short-term benefit, but may not be beneficial for the future.

Li Keqiang

We need to make clear that the economic crisis has to be matched by a crisis of ideas. That's the problem, right? The economic crisis is not matched by a crisis of ideas. That's where the war is going to be fought.

Henry Giroux

For Marx, 'pure' economic theory, that is economic theory which abstracts from a specific social structure, is impossible.

Ernest Mandel

The theory of economic shock therapy relies in part on the roleof expectations on feeding an inflationary process. Reining in inflation requires not only changing monetary policy but also changing the behavior of consumers, employers and workers. The role of a sudden, jarring policy shift is that it quickly alters expectations, signaling to the public that the rules of the game have changed dramatically - prices will not keep rising, nor will wages.

Naomi Klein

We must put an end to both economic freeloading and economic exploitation in America. There must be no place for parasites who draw their sustenance from society without giving anything in return.

George Lincoln Rockwell

In his first year in office, President Obama pulled us back from the brink of the greatest economic crisis since the Great Depression and worked to lay a new foundation for economic growth. The president identified three key strategies to build that lasting prosperity: innovation, investment, and education.

Tom Vilsack

To ensure stable and sustainable economic growth, world leaders must re-examine the international rules of the monetary game, with advanced and emerging economies alike adopting more mutually beneficial monetary policies.

Raghuram Rajan

There has been a banking crisis, a financial crisis, an economic crisis, a social crisis, a geostrategic crisis and an environmental crisis. That's considerable in a country that's used to being protected.

Jean-Francois Cope

A Quote by Ludwig von Mises

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