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Quote by Alfred Marshall

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Principles of Economics: An Introductory Volume

This book serves as an entry point into the study of economics, exploring key theories and principles that underpin the field. more

Author

Alfred Marshall
Alfred Marshall

Alfred Marshall was a British economist born on July 26, 1842, and died on July 13, 1924. He is one of the most influential economists of the late 19th and early 20th centuries and is considered one of the founders of neoclassical economics. more

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“Used to the conditions of a capitalistic environment, the average American takes it for granted that every year business makes something new and better accessible to him. Looking backward upon the years of his own life, he realizes that many implements that were totally unknown in the days of his youth and many others which at that time could be enjoyed only by a small minority are now standard equipment of almost every household.”

YearsPhilosophyPoliticalUsedRealizingEnvironmentConditionsYouthStandardsEconomicsAverageGrantedEnjoyedMinoritiesSomething NewHouseholdLooking BackEquipment
Book:Economic freedom and interventionism: an anthology of articles and essays
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“The main propoganda trick of supporters of the allegedly "progressive" policy of government control is to blame capitalism for all that is unsatisfactory in present-day conditions and to extol the blessings of socialism. They have never attempted to prove their fallacious dogmas, all they did was to call their adversaries names and cast suspicion upon their motives. And, unfortunately, the average citizen cannot see through these stratagems. The liars must be afraid of the truth and are therefore driven to suppress its pronouncement.”

PhilosophyGovernmentPoliticalNamesConditionsPolicyCitizensBlessingProveCapitalismEconomicsBlameAverageCastsDrivenTricksSocialismMotiveLiarsProgressiveDogmaSuspicionSupporterAdversariesPresent DayStratagem
Author:Ludwig von Mises
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“One day, because they realize for some reason or other that they must stop credit expansion, the banks do stop creating new credit to lend. Then the firms that have expanded cannot get credit to pay for the factors of production necessary for the completion of the investment projects which they have already committed themselves. Because they cannot pay their bills, they sell off their inventories cheap. Then comes the panic, the breakdown. And the depression starts.”

ReasonRealizingPayOne DayProjectsCreatingEconomicsBillsSellsInvestmentCommittedProductionsCreditFactorsFirmPanicExpansionBreakdownCompletionInventoryFactors Of Production
Author:Ludwig von Mises
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