“True, governments can reduce the rate of interest in the short run. They can issue additional paper money. They can open the way to credit expansion by the banks. They can thus create an artificial boom and the appearance of prosperity. But such a boom is bound to collapse soon or late and to bring about a depression.”
Quote by Ludwig von Mises
Work
Omnipotent Government: The Rise of the Total State and Total War
This book delves into the historical and philosophical underpinnings of omnipotent government, exploring the emergence of the total state and its role in total war. It analyzes the political, social, and economic factors that contribute to the rise of such regimes and their impact on international relations. 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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