Some experts have declared that it is necessary to tax the people until it hurts. I disagree with these sadists.
- Ludwig von Mises - Topics: Tax.
An essential point in the social philosophy of interventionism is the existence of an inexhaustible fund which can be squeezed forever. The whole doctrine of interventionism collapses when this fountain is drained off. The Santa Claus principle liquidates itself.
- Ludwig von Mises - Topics: Socialism.
The function of entrepreneurs is to reform or revolutionize the pattern of production by exploiting an invention or, more generally, an untried technological possibility for producing a new commodity or producing an old one in a new way
- Joseph A. Schumpeter - Topics: Capitalism.
Government spending cannot create additional jobs. If the government provides the funds required by taxing the citizens or by borrowing from the public, it abolishes on the one hand as many jobs as it creates on the other. If government spending is financed by borrowing from the commercial banks, it means credit expansion and inflation.
- Ludwig von Mises - Topics: Debt, Government, Monetary Policy, Tax.
Not to own any gold is to trust central bankers and that you don't want to do in your life.
- Marc Faber - Topics: Monetary Policy, Gold, Central Bank.
The longer the boom of inflationary bank credit continues, the greater the scope of malinvestments in capital goods, and the greater the need for liquidation of these unsound investments. When the credit expansion stops, reverses, or even significantly slows down, the malinvestments are revealed.
- Ludwig von Mises - Topics: Monetary Policy.
Under a gold standard, sound government has a much better chance; its leaders can say to the people and to the politicians, "We can't do it unless we increase taxes." The gold standard is a form of protection against spendthrift governments.
- Ludwig von Mises - Topics: Inflation, Gold.
Profit is the payment you get when you take advantage of change.
- Joseph A. Schumpeter - Topics: Capitalism, Change.
In the long run, inflation comes to an end with the breakdown of the currency.
- Ludwig von Mises - Topics: Inflation.
Economics is extremely useful as a form of employment for economists.
- John Kenneth Galbraith - Topics: Economist.
If you would like to know the value of money, go and try to borrow some.
- Benjamin Franklin - Topics: Debt.
I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.
- Warren Buffett - Topics: Stock Market, Investing.
