“Credit expansion is the governments' foremost tool in their struggle against the market economy. In their hands it is the magic wand designed to conjure away the scarcity of capital goods, to lower the rate of interest or to abolish it altogether, to finance lavish government spending, to expropriate the capitalists, to contrive everlasting booms, and to make everybody prosperous.”
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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