Inflation Is A Form Of

It Is Possible To Increase Paper-money Income To Any Amount By Debasing The Currency. But Real Income Can Only Be Increased By Working Harder Or More Efficiently, Saving More, Investing More, And Producing More.

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.

When Any Welfare Scheme Is Being Proposed, Its Political Sponsors Always Dwell On What A Generous And Compassionate Government Should Pay To Paul; They Neglect To Mention That This Additional Money Must Be Seized From Peter.

Competition Always Tends To Bring About The Most Economical And Efficient Method Of Production. Those Who Are Most Successful In This Competition Will Acquire More Capital To Increase Their Production Still Further; Those Who Are Least Successful Will Be Forced Out Of The Field. So Capitalist Production Tends Constantly To Be Drawn Into The Hands Of The Most Efficient.

If Precious Metals Had Been Abundant, They Would Not Have Been Precious.