Friedrich August von Hayek Quote

Quote from Friedrich August von Hayek,

"To combat depression by a forced credit expansion is to attempt to cure the evil by the very means which brought it about; because we are suffering from a misdirection of production, we want to create further misdirection -- a procedure which can only lead to a much more severe crisis as soon as the credit expansion comes to an end."

By:	Friedrich August von Hayek (more quotes by Friedrich August von Hayek or books by/about Friedrich August von Hayek)
	(1899-1992), Nobel Laureate of Economic Sciences 1974
Date:	1933
Categories:	Banking, Crisis, Deception, Economics, Production
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