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

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?

Freedom is sexy, so share!Share on Facebook0Tweet about this on Twitter0Share on Google+0Share on Reddit0Digg thisShare on StumbleUpon0Share on LinkedIn0Pin on Pinterest0Email this to someone
TrackBack URI: http://www.thelibertypapers.org/2008/12/12/quote-of-the-day-34/trackback/
Read more posts from
• • •

No Comments

No comments yet.

Comments RSS