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The Theory of Money and Credit (1912)
Ludwig von Mises
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| Quote | Source | Page | Subject |
|---|---|---|---|
| A government that sets out to abolish market prices is inevitably driven toward the abolition of private property; it has to recognize that there is no middle way between the system of private property in the means of production combined with free contract, and the system of common ownership of the means of production, or socialism. It is gradually forced toward compulsory production, universal obligation to labor, rationing of consumption, and, finally, official regulation of the whole of production and consumption. | The Theory of Money and Credit | p. 281 | Price Control |
| Accountancy is not perfect. The precision of its statements is only illusory. The valuations of goods and rights with which it deals are always based on estimates depending on more or less uncertain and unknown factors. | The Theory of Money and Credit | p. 234 | Economic Calculation |
| All monetary policies encounter the difficulty that the effects of any measures taken . . . can neither be foreseen in advance, nor their nature and magnitude be determined even after they have already occurred. | The Theory of Money and Credit | p. 271 | Monetary Policy |
| All the marvelous achievements of Western civilization are fruits grown on the tree of liberty. | The Theory of Money and Credit | p. 454 | Western Civilization |
| An increase in the purchasing power of money is disadvantageous to the debtor and advantageous to the creditor; a decrease in its purchasing power has the contrary significance. | The Theory of Money and Credit | p. 229 | Purchasing Power |
| As there are in the field of social affairs no constant relations between magnitudes, no measurement is possible and economics can never become quantitative. | The Theory of Money and Credit | p. 460 | Econometrics |
| Credit transactions are in fact nothing but the exchange of present goods against future goods. | The Theory of Money and Credit | p. 47 | Credit |
| During thousands of years, in all parts of the inhabited earth, innumerable sacrifices have been made to the chimera of just and reasonable prices. | The Theory of Money and Credit | p. 282 | Price Control |
| Economic affairs cannot be kept going by magistrates and policemen. | The Theory of Money and Credit | p. 282 | Coercion |
| Economic affairs cannot be kept going by magistrates and policemen. | The Theory of Money and Credit | p. 282 | Price Control |