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Ludwig von Mises: "Under the division of labor, the structure of society rests on the shoulders of all men and women." - Bureaucracy

Quotable MisesThis database of quotations from Mises was prepared for The Quotable Mises edited by Mark Thornton, available from the Mises Institute store for $20. Send corrections to the editor. Here is a source page on the editions of the books referenced.

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Top> Browse by subject: Deficits
Ludwig von MisesA policy of deficit spending saps the very foundation of all interpersonal relations and contracts. It frustrates all kinds of savings, social security benefits and pensions.Planning for Freedom p. 89Deficits
Ludwig von MisesIt is always an inflationist policy, not economic conditions, which bring about the monetary depreciation. The evil is philosophical in character.On the Manipulation of Money and Credit p. 48Deficits
Ludwig von MisesIf one regards inflation as an evil, then one has to stop inflating. One has to balance the budget of the government.Economic Policy pp. 72-73Deficits
Ludwig von MisesIf the practice persists of covering government deficits with the issue of notes, then the day will come without fail, sooner or later, when the monetary systems of those nations pursuing this course will break down completely. The purchasing power of the monetary unit will decline more and more, until finally it disappears completely.On the Manipulation of Money and Credit p. 5Deficits
Ludwig von MisesCan anyone doubt that the warring people of Europe would have tired of the conflict much sooner, if their governments had clearly, candidly, and promptly, presented them with the bill for military expenses?On the Manipulation of Money and Credit p. 38Deficits
Ludwig von MisesIn public administration there is no connection between revenue and expenditure.Bureaucracy p. 47Deficits
Ludwig von MisesWhat the doctrine of balancing budgets over a period of many years really means is this: As long as our own party is in office, we will enhance our popularity by reckless spending.Planning for Freedom p. 87Deficits
Ludwig von MisesThe two pillars of democratic government are the primacy of the law and the budget.Bureaucracy p. 41Deficits
Ludwig von MisesWhat the government spends more, the public spends less. Public works are not accomplished by the miraculous power of a magic wand. They are paid for by funds taken away from the citizens.Human Action p. 655; p. 659Deficits