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"It is the beginning of the 'demonetization' of the notes. The process is hastened by its panic-like character. It may be possible once, twice, perhaps even three or four times, to allay the fears of the public; but eventually the affair must run its course and then there is no longer any going back. Once the depreciation is proceeding so rapidly that sellers have to reckon with considerable losses even if they buy again as quickly as is possible, then the position of the currency is hopeless."
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Exlpore more Economics quotes
"I saw the poverty, I say the prosperity. Both have fundamental problems."
"Usually when people talk about the trickle-down theory, it has to do with economics. The richer people at the top of a society become, supposedly, the more wealth there is to trickle down to the people below. It never really works out that way, of course, because if there are 2 things people at the top can't stand, they have to be leakage and overflow."
"She'd been fed anti-consumerist bullshit by her parents but didn't understand simple economics."
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Explore more quotes by Ludwig von Mises
"Only one thing can conquer war - that attitude of mind which can see nothing in war but destruction and annihilation."
"The root of the evil is not the construction of new, more dreadful weapons. It is the spirit of conquest."
"To defeat the aggressors is not enough to make peace durable. The main thing is to discard the ideology that generates war."
"It has been proposed that monetary liabilities should be settled in terms of gold and not according to their nominal amount. If this proposal were adopted, for each mark that had been borrowed that sum would have to be repaid that could at the time of repayment buy the same weight of gold as one mark could at the time when the debt contract was entered into. The fact that such proposals are now put forward and meet with approval shows that etatism has already lost its hold on the monetary system and that inflationary policies are inevitably approaching their end. Even only a few years ago, such a proposal would either have been ridiculed or else branded as high treason."
"When the price of coal falls because production has increased while demand has remained unaltered, then, for example, those retailers are involved who have taken supplies from the wholesale dealers at the old higher price but are now able to dispose of them only at the new and lower price. But this alone will not account for all the social changes brought about by the increase of production of coal. The increase in the supply of coal will have improved the economic position of the community."
"Under capitalism the common man enjoys amenities which in ages gone by were unknown and therefore inaccessible even to the richest people. But, of course, these motorcars, television sets and refrigerators do not make a man happy. In the instant in which he acquires them, he may feel happier than he did before. But as soon as some of his wishes are satisfied, new wishes spring up. Such is human nature."
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