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There is no means of avoiding a 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
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Tag Archives: democracy
The Myth of Democracy
This week, the US congress voted on an amendment to stop the NSA’s PRISM program which has been making headlines for the past few weeks. Unfortunately, the vote was defeated in the House of Representatives by 217-205, and so the NSA … Continue reading
Posted in Uncategorized
Tagged Benjamin Franklin, crony capitalism, democracy, liberty, NSA, PRISM, security
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Quote of the day
Now, instead of the divine right of kings, we have the divine right of parliament. The parliament has become the king, and there is no longer any realistic or effective check on the ambitions of the executive. Richard North, on … Continue reading
On the meaning of words
What do we mean by democracy? How do we define capitalism or socialism? Part of the challenge when discussing these ideas is that we all have different definitions of the ideas themselves. CS Lewis complained about certain words losing their meaning, and … Continue reading
