In Order That One Industry

The Essential Function Of The State Is To Maintain Peace, Justice, Law, And Order, And To Protect The Individual Citizen Against Aggression, Violence, Theft, And Fraud.

In A Free Enterprise System, With An Honest And Stable Money, There Is Dominantly A Close Link Between Effort And Productivity, On The One Hand, And Economic Reward On The Other. Inflation Severs This Link. Reward Comes To Depend Less And Less On Effort And Production, And More And More On Successful Gambling And Luck.

Economic Progress And Justice Do Not Consist In Superbly Equalized Destitution, But In The Constant Creation Of More And More Goods And Services, Of More And More Wealth And Income To Be Shared.

If There Is To Be No Loss Whatever Of Dignity Or Self-respect In Getting And Staying On Relief, Then There Can Be No Gain In Dignity Or Self-respect In Makings Some Sacrifices To Keep Off.

If A Government Resorts To Inflation, That Is, Creates Money In Order To Cover Its Budget Deficits Or Expands Credit In Order To Stimulate Business, Then No Power On Earth, No Gimmick, Device, Trick Or Even Indexation Can Prevent Its Economic Consequences.