"Depression and mass unemployment are not caused by the free market,
but by government interference in the economy."
by:
Ludwig von Mises
(1881-1973) Economist and social philosopher
Source:
The Theory of Money and Credit
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Reader comments about this quote:
The liberty tree is to be comended, for preserving the one TRUE law of the USA. The liberty tree, is invaluble for its contribution in these times of basic war against oppressive governments. This site ensures we the people do not forget, what our forfathers put into place, and gives us all the intellectual food we so desperataly need in these peroulous times. Thank you Those who forget history, are doomed to repeat it.
 -- Kimo, Lahaina     
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    Kimo, thank you, I second your sentiment. The editor does a great job and service by this blog. You should comment here more often.
     -- Mike, Norwalk     
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    There is no problem, no calamity that can not be laid squarely at the feet of an interfering government.
     -- J Carlton, Calgary     
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    Typical... blame government for the abuse of society by the self centered and greedy...
     -- Anonymous, Reston, VA, US     
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    The only true government is one that exists solely to preserve the liberty of the governed. All others are more accurately termed criminal enterprises.
     -- Justin, Elkland     
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    "Typical... blame government for the abuse of society by the self centered and greedy..." -- Anonymous, Reston, VA, US Is government not the favorite ax ever to be wielded by the self centered and greedy?
     -- Justin, Elkland     
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    Reston, your comment ,as usual, makes no sense. Why is our country up to it's eyeballs in debt ? Look to Washington, they are the people who pass the laws and spend the money and we are not getting out of this mess by "Taxing the Rich".
     -- jim k, Austin,Tx     
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    Actually Reston, Blaming Government and the Self Centered and Greedy...are the same thing. With one exception..."because" they are government...they are also criminals.
     -- J Carlton, Calgary     
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    Reston, one question- has a poor person ever given you a job?
     -- Carol, Georgia.     
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    The free market economics over the last decades has resulted in a massive transfer of wealth upward. Freedom must include the security of the individual, which includes the economic security of the individual. Poor and desperate people are not free.
     -- Gary     
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     -- Anonymous      
    The quote is right on. Reston, do the math! When the nation's money supply can be expanded and collapsed at will by a handful of greedy men who aim for world domination, booms and busts are inevitable. With every bust comes a 'squeeze' whereby the 'lenders' (who have loaned nothing but have merely 'extended credit') confiscate real property in exchange for their funny money. This has continued to happen since the Federal Reserve bankrupted the country with the first Great Depression. What Reston seems to be unaware of is that seats of immense power attract the greedy and thus with a system in place that has a life of its own, the halls of government are teaming with the power-hungry, with the unconstitutional mechanism of being able to vote themselves money from not only all of us, but from our children and their children's children. Look to your own house, Reston, and you will find yourself to blame.
     -- E Archer, NYC     
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    Gary, give me an example of a society where the government controls have made all the citizens wealthy.
     -- JK, Phoenix, AZ     
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    Gary, I live in the U.S. and have in the last decade traveled all over the world. I've been looking for this mystical land of free market. I haven't found it yet. Regulation, statist favoritisms and prejudices, theocratic socialism's cannons, etc., etc., etc. have all but eliminated any semblance to what could be called a free market.
     -- Mike, Norwalk     
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    A from Reston, you use the term typical. In this case, is typical accurate or inaccurate? If typical is the correct word to use, it does describe the self centered and greedy abuse of society by government.
     -- Mike, Norwalk     
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     -- RBESRQ      
    von Mises is a shill for the Establishment - the Zionist Crimocracy which is destroying the US and the world. He was born in (then) Austria (now Ukraine) as a Jewish NOBLE. He did NOT escape from Nazi Germany -that is a lie. He emigrated from Switzerland. Take 5 minutes on Wikipedia. Free Market Capitalism - invented by the same Wall Street Tribe as Communism - is in fact to blame for ALL our economic problems because the MONOPOLY of the MONEY POWER has for MOST of US history been in the hands of the (self professed) "Power Elite" - the Crimocracy. Read about the Mercantilist shills for the Rothschilds - Hamilton and Morris - the destruction of the Articles of Confederation (under which WE (US) ostensibly defeated the world's super power of the time - the British Empire) and illegal perversion into the CONstitution, with Hamilton very soon getting his first PRIVATELY OWNED central bank - First Bank of the US. The "FED" is just the most recent and long lived PRIVATE central bank that the banksters were able to drive through the loophole created by the sparse wording of the CONstitution. Liberty, Peace, Prosperity and Love Jimi
     -- Jimi Bigbear, New Fredonia     
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    Jimi, Wall Street indeed funded Communism and Keynesian economics, but it did NOT promote Free Market Capitalism -- you cannot have a free market with a fiat currency issued by a private bank. Indeed, the banksters do everything in their power to prevent the free market and private capitalization. You cannot have 'capital' when all you have is 'debt' -- our money is no longer a form of capital (i.e. backed by capital goods like gold or silver) but a form of debt (i.e. interest-bearing promissory notes issued by a private bank). Today, the more 'money' you have, the more debt you are holding. If you exchange your property and labor for debt, then you are essentially being robbed. This you point out, but I do not see how you can blame von Mises. Nothing he has ever written that I have read has supported the idea of Keynesian economics which is the bastion of the socialists/communists/fascists/globalist-bankers. As you left the same comment 3 times today, I am curious to know specifically of what you accuse von Mises.
     -- E Archer, NYC     
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    By pure percentage of eligible workers out of work, there are more people out of work now than during the Great Depression. For the first time in American history, entreating the last 4 years, more jobs have failed than have started (and that doesn't count the jobs that have left the country). There are many reasons for the economic decline and they all start and finish with government. Over taxation, over regulation, licensing, Keynesian economics, funny money, the banking / credit system, socialism, the dole, theocratic seminaries (government schools) destroying an entrepreneurial / creative desire and thought in favor of making the only option - working for the man / factory / government or an entitlement mentality are all government interference in the economy (all such being antithetical to the free market).
     -- Mike, Norwalk     
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    Without consumer sovereignty and economic liberty, there is No free market at natural law. Hamilton met his opposition in a duel and lost to Burr. Madison and Jefferson dismantled with others the centralizing power of socialism run by the banksters only to rear their head again in 1859, then proceeded one of the bloodiest wars on the planet. all for industrializing and greed of another persons fruit of their labor ! The bloody cities are never quiet !
     -- Ronw13, Oregon     
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