Thoughts, essays, and writings on Liberty. Written by the heirs of Patrick Henry.

“We attack involuntary servitude, not in spite of the fact that it is advantageous to the "masters," but because we are convinced that, in the last analysis, it hurts the interests of all members of human society, including the "masters."”     Ludwig von Mises,    Liberalism

December 12, 2008

Quote Of The Day

by Brad Warbiany

“There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.”
Ludwig Von Mises

After Great Depression I, a well-known economist was quoted* to say “We are all Keynesians now.”

Perhaps the refrain after Great Depression II will be “We are all Austrians now”?

Hat Tip: to herd or not to herd

* As that article points out, perhaps he was quoted out of context?

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