Saturday, February 28, 2009
Quotes to Ponder
From Ludwig von Mises, the Austrian Economist come some quotes to think about while the government (cough, cough, Democrats) abandons all control and catapults our nation toward financial ruin.
If the practice persists of covering government deficits with the issue of notes, then the day will come without fail, sooner or later, when the monetary systems of those nations pursuing this course will break down completely. The purchasing power of the monetary unit will decline more and more, until finally it disappears completely.
A nation cannot prosper if its members are not fully aware of the fact that what alone can improve their conditions is more and better production. And this can only be brought about by increased saving and capital accumulation.
What the doctrine of balancing budgets over a period of many years really means is this: As long as our own party is in office, we will enhance our popularity by reckless spending.
What the government spends more, the public spends less. Public works are not accomplished by the miraculous power of a magic wand. They are paid for by funds taken away from the citizens.
From The Quotable Mises, edited by Mark Thornton and published by the Mises Institute
