“History does not provide any example of capital accumulation brought about by a government. As far as governments invested in the construction of roads, railroads, and other useful public works, the capital needed was provided by the savings of individual citizens and borrowed by the government.”
Quote by Ludwig von Mises
Work
Human action: a treatise on economics
This seminal work delves into the theoretical underpinnings of economics, focusing on the actions and decisions of individuals within a market economy. It is widely regarded as a foundational text in the field of economics, particularly within the Austrian School of thought. more
Author
Ludwig von Mises
Ludwig von Mises was a prominent economist, philosopher, and social theorist born on September 29, 1881, in Austria, and passed away on October 10, 1973. He is considered one of the most influential economists of the 20th century and a leading advocate for free-market economics. more
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