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 the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.


Chapter XX: Interest, Credit Expansion, The Trade Cycle, § 8 : The Monetary or Circulation Theory of the Trade Cycle - Human Action (1949)

Ludwig von Mises Quotes

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...

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...

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...

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...