The balance-of-payments theory forgets that the volume of foreign trade is completely dependent upon prices — that neither exportation nor importation can occur if there are no differences in prices to make trade profitable.
The balance-of-payments theory forgets that the volume of foreign trade is completely dependent upon prices — that neither exportation nor importation can occur if there are no differences in prices to make trade profitable.
The balance-of-payments theory forgets that the volume of foreign trade is completely dependent upon prices — that neither exportation nor importation can occur if there are no differences in prices to make trade profitable.
The balance-of-payments theory forgets that the volume of foreign trade is completely dependent upon prices — that neither exportation nor importation can occur if there are no differences in prices to make trade profitable.
The balance-of-payments theory forgets that the volume of foreign trade is completely dependent upon prices — that neither exportation nor importation can occur if there are no differences in prices to make trade profitable.
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The balance-of-payments theory forgets that the volume of foreign trade is completely dependent upon prices

— that neither exportation nor importation can occur if there are no differences in prices to make trade profitable.
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ludwig von mises the theory of money and credit

More “Ludwig von mises” Quotes

A society that chooses between capitalism and socialism does not choose between two social systems — it chooses between social cooperation and the disintegration of society.
It is no more appropriate to speak of a difference between the purchasing power of money in Germany and in Austria than — only the commodities offered are not the same.
Determinants of prices have their effect only through the medium of the subjective estimates of individuals — and the extent to which any given factor influences these subjective estimates can never be predicted.
Within a world of free trade and democracy there are no incentives for war and conquest. In such a world it is of no con — it is not painful to be fair to other people’s claims for self-determination.
By 'the objective exchange-value of money' we are accordingly to understand the possibility of obtaining a certain quant — and by 'the price of money' this actual quantity of other goods.
The market system is the basis of our civilization. Its only alternative is the Führer principle. — Ludwig von Mises