Ludwig von Mises: ". The use of money in a market economy is a praxeologically necessary fact. That gold, and not something else, is used as money is merely a historical fact and as such cannot be conceived by catallactics." - Human Action
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|Ludwig von Mises||There was no reason whatever to abandon the principle of free enterprise in the field of banking.||Human Action|| p. 440; p. 443||Banking
|Ludwig von Mises||It is extremely difficult for our contemporaries to conceive of the conditions of free banking because they take government interference with banking for granted and as necessary.||Human Action|| p. 444; p. 447||Banking
|Ludwig von Mises||What is needed to prevent any further credit expansion is to place the banking business under the general rules of commercial and civil laws compelling every individual and firm to fulfill all obligations in full compliance with the terms of the contract.||Human Action|| p. 440; p. 443||Banking
|Ludwig von Mises||Imprudent granting of credit is bound to prove just as ruinous to a bank as to any other merchant.||The Theory of Money and Credit|| p. 295||Banking