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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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Economic Theory Has Demonstrated In An Irrefutable

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.
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Slumps Credit Way

More From Ludwig Von Mises

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.
Past Years Two
Our first benchmark is to cut the deficit more quickly to safeguard britain’s credit rating. i know that we are taking a political gamble to set this up as a measure of success. protecting the credit rating will not be easy the pace of fiscal consolidation will be co-ordinated with monetary policy. and we will protect britain's credit rating and international reputation.
Cutting Political Pace
Real prosperity comes from everybody in the country working together in a growth mode. real prosperity comes as a result of people's own initiative and efforts and so forth. prosperity, if it comes from the government, is not prosperity. it's an existence or a subsistence or whatever, but it isn't prosperity.
Country Real Government
Absolutely pay off credit card debt. if you're not getting a match in your 401(k) and you've got credit card debt, you've got to get yourself out of credit card debt. when you get out of credit card debt, your credit score goes up and interest starts to go down.
Debt Pay Cards
Credit expansion can bring about a temporary boom. but such a fictitious prosperity must end in a general depression of trade, a slump.
Slumps Expansion Credit
It is the people who constitute the basis of government credit. why then cannot the people have benefit of their own gilt-edge credit by receiving non-interest bearing currency-instead of bankers receiving the benefit of the people's credit in interest-bearing bonds. if the united states government will adopt this policy of increasing its national wealth without contributing to the interest collector-for the whole national debt is made up on interest charges-then you will see an era of progress and prosperity in this country such as could never have come otherwise.
Country Government People
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