A Genius Is Always A

Private Property Creates For The Individual A Sphere In Which He Is Free Of The State. It Sets Limits To The Operation Of The Authoritarian Will. It Allows Other Forces To Arise Side By Side With And In Opposition To Political Power. It Thus Becomes The Basis Of All Those Activities That Are Free From Violent Interference On The Part Of The State. It Is The Soil In Which The Seeds Of Freedom Are Nurtured And In Which The Autonomy Of The Individual And Ultimately All Intellectual And Material Progress Are Rooted.

Inflationism, However, Is Not An Isolated Phenomenon. It Is Only One Piece In The Total Framework Of Politico-economic And Socio-philosophical Ideas Of Our Time. Just As The Sound Money Policy Of Gold Standard Advocates Went Hand In Hand With Liberalism, Free Trade, Capitalism And Peace, So Is Inflationism Part And Parcel Of Imperialism, Militarism, Protectionism, Statism And Socialism.

The Situation Of Having To Belong To A State To Which One Does Not Wish Is No Less Onerous If It Is The Result Of An Election Than If One Must Endure It As The Consequence Of A Military Conquest.

Economic Knowledge Necessarily Leads To Liberalism

While Under Precapitalistic Conditions Superior Men Were The Masters On Whom The Masses Of The Inferior Had To Attend, Under Capitalism The More Gifted And More Able Have No Means To Profit From Their Superiority Other Than To Serve To The Best Of Their Abilities The Wishes Of The Majority Of The Less Gifted.