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"Any intervention, such as that of the German Reichsbank in the Spring of 1923, in which only a small part of the increasing note-expansion was recovered by the banks through the sale of foreign bills, would necessarily be unsuccessful. Led by the idea of opposing speculation, inflationistic governments have allowed themselves to become involved in measures whose meaning is hardly intelligible. Thus at one time the importation of notes, then their exportation, then again both their exportation and importation, have been prohibited. Exporters have been forbidden to sell for their own country's notes, importers to buy with them."
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"When you see how the President makes political or policy decisions, you see who he is. The essence of the Presidency is decision-making."
"In a constructive policy, there is 'adjust everywhere' and in a destructive policy, there is a policy of disadjustment."
"So, I'm lying on the couch and Laura walks in and I say, 'Free at last,' and she says 'You're free all right, you're free to do the dishes.' So I say, 'You're talking to the former president, baby,' and she said, 'consider this your new domestic policy agenda.'"
"Mbeki began to write a study of the workings of apartheid policy in the reserves - the areas set aside in law for African occupation - as early as 1959 and 1960."
"Without a good cultural policy, without adequate help, we will always have individualists, shooting stars who are rapidly forgotten or who stop painting for a more profitable occupation."
"So far I, at least, have no fault to find with implications of Hamilton's Federalism, but unfortunately his policy was in certain other respects tainted with a more doubtful tendency."
"And I think the rolling polls put more pressure on them to sustain their beliefs and to improve their delivery of the policy and their delivery of the ideas so that they can garner support for whatever principle they're articulating."
"I believe that this is the key, the principle itself is the key to conservatism. Because in many ways if you do not have a principled base you do not have policy and if you do not have policy in many ways you do not have an ideology."
"Once I should have been, if not satisfied, partially, at least, contented with suffrage for the intelligent and those who have been soldiers; now I am convinced that universal suffrage is demanded by sound policy and impartial justice."
Explore more quotes by Ludwig von Mises
"That policy which aims at raising the objective exchange-value of money is called, after the most important means at its disposal, restrictionism or deflationism. This nomenclature does not really embrace all the policies that aim at an increase in the value of money. The aim of restrictionism may also be attained by not increasing the quantity of money when the demand for it increases, or by not increasing it enough. This method has quite often been adopted as a way of increasing the value of money in face of the problems of a depreciated credit-money standard."
"The error in this conclusion may be most simply demonstrated by means of an actual example. Let us select for this purpose the monetary history of Austria, which Laughlin also uses as an illustration. From 1859 onwards the Austrian National Bank was released from the obligation to convert its notes on demand into silver, and nobody could tell when the State paper-money issued in 1866 would be redeemed, or even if it would be redeemed at all. It was not until the later 'nineties that the transition to metallic money was completed by the actual resumption of cash payments on the part of the Austro-Hungarian Bank."
"The champions of socialism call themselves progressives, but they recommend a system which is characterized by rigid observance of routine and by a resistance to every kind of improvement. They call themselves liberals, but they are intent upon abolishing liberty. They call themselves democrats, but they yearn for dictatorship. They call themselves revolutionaries, but they want to make the government omnipotent. They promise the blessings of the Garden of Eden, but they plan to transform the world into a gigantic post office. Every man but one a subordinate clerk in a bureau."
"If one prevents a man from working for the good of society while at the same time providing for the satisfaction of his own needs, then only one way remains open to him: to make himself richer and others poorer by the violent oppression and spoliation of his fellow men."
"Only one thing can conquer war - that attitude of mind which can see nothing in war but destruction and annihilation."
"Freedom is indivisible. As soon as one starts to restrict it, one enters upon a decline on which it is difficult to stop."
"When the value of money is increased, then those are enriched who at the time possess credit money or claims to credit money. Their enrichment must be paid for by debtors, among them the State (i.e., the tax-payers). Yet those who are enriched by the increase in the value of money are not the same as those who were injured by the depreciation of money in the course of the inflation; and those who must bear the cost of the policy of raising the value of money are not the same as those who benefited by its depreciation. To carry out a deflationary policy is not to do away with the consequences of inflation. You cannot make good an old breach of the law by committing a new one."
"Only stilted pedants can conceive the idea that there are absolute norms to tell what is beautiful and what is not. They try to derive from the works of the past a code of rules with which, as they fancy, the writers and artists of the future should comply. But the genius does not cooperate with the pundit."
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