Business Cycles

Quote	Source	Page	Subject
Credit expansion can bring about a temporary boom. But such a fictitious prosperity must end in a general depression of trade, a slump.	Planned Chaos	p. 21	Business Cycles
The boom produces impoverishment. But still more disastrous are its moral ravages. It makes people despondent and dispirited. The more optimistic they were under the illusory prosperity of the boom, the greater is their despair and their feeling of frustration.	Human Action	p. 574; p. 576	Business Cycles
The cyclical fluctuations of business are not an occurrence originating in the sphere of the unhampered market, but a product of government interference with business conditions designed to lower the rate of interest below the height at which the free market would have fixed it.	Human Action	p. 562; p. 565	Business Cycles
The ultimate cause, therefore, of the phenomenon of wave after wave of economic ups and downs is ideological in character. The cycles will not disappear so long as people believe that the rate of interest may be reduced, not through the accumulation of capital, but by banking policy.	On the Manipulation of Money and Credit	p. 139	Business Cycles
The wavelike movement effecting the economic system, the recurrence of periods of boom which are followed by periods of depression is the unavoidable outcome of the attempts, repeated again and again, to lower the gross market rate of interest by means of credit expansion.	Human Action	p. 570; p. 572	Business Cycles
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.	Omnipotent Government	p. 251	Business Cycles

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