History Makes One Wise, But

Economics Is Not About Things And Tangible Material Objects; It Is About Men, Their Meanings And Actions.

Liberty Is Meaningless If It Is Only The Liberty To Agree With Those In Power.

Credit Expansion Is The Governments' Foremost Tool In Their Struggle Against The Market Economy. In Their Hands It Is The Magic Wand Designed To Conjure Away The Scarcity Of Capital Goods, To Lower The Rate Of Interest Or To Abolish It Altogether, To Finance Lavish Government Spending, To Expropriate The Capitalists, To Contrive Everlasting Booms, And To Make Everybody Prosperous.

The Truth Is That Capitalism Has Not Only Multiplied Population Figures, But At The Same Time, Improved The People's Standard Of Living In An Unprecedented Way. Neither Economic Thinking Nor Historical Experience Suggests That Any Other Social System Could Be As Beneficial To The Masses As Capitalism. The Results Speak For Themselves. The Market Economy Needs No Apologists And Propagandists. It Can Apply To Itself The Words Of Sir Christopher Wren's Epitaph In St. Paul's: Si Monumentum Requires, Circumspice.

Liberalism And Capitalism Address Themselves To The Cool, Well-balanced Mind. They Proceed By Strict Logic, Eliminating Any Appeal To The Emotions. Socialism, On The Contrary, Works On The Emotions, Tries To Violate Logical Considerations By Rousing A Sense Of Personal Interest And To Stifle The Voice Of Reason By Awakening Primitive Instincts.