QUOTES OF THE DAY

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.

Ludwig von Mises

If it were really possible to substitute credit expansion (cheap money) for the accumulation of capital goods by saving, there would not be any poverty in the world.

Ludwig von Mises

A society that chooses between capitalism and socialism does not choose between two social systems; it chooses between social cooperation and the disintegration of society. Socialism: is not an alternative to capitalism; it is an alternative to any system under which men can live as human beings.

Ludwig von Mises


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1 Comment
Dave
Dave
October 3, 2015 12:46 am

Fundamental truths. Follow this and other great works by Mises and you’ll do well in life.