Depression Is The Aftermath Of Credit Expansion.

The Methods Of The Natural Sciences Cannot Be Applied To Human Behavior Because This Behaviorlacks The Peculiarity That Characterizes Events In The Field Of The Natural Sciences, Viz., Regularity.

Economics Is A Theoretical Science And As Such Abstains From Any Judgement Of Value. It Is Not Its Task To Tell People What Ends They Should Aim At. It Is A Science Of The Means To Be Applied For Attainment Of Ends Chosen, Not, To Be Sure, A Science Of The Choosing Of Ends. Ultimate Decisions, The Valuations And The Choosing Of Ends, Are Beyond The Scope Of Any Science. Science Never Tells A Man How He Should Act; It Merely Shows How A Man Must Act If He Wants To Attain Definite Ends.

The Struggle For Freedom Is Not The Struggle Of The Many Against The Few, But Of Minorities, Sometimes Of A Minority Of But One Man Gainst The Majority.

Everybody Thinks Of Economics Whether He Is Aware Of It Or Not. In Joining A Political Party Or In Casting His Ballot, The Citizen Implicitly Takes A Stand Upon Essential Economic Theories.

Marx And Engels Openly Declared That The Progressive Income Tax And The Death Tax Are 'economically Untenable' And That They Advocated Them Only Because 'they Necessitate Further Inroads' Upon The Capitalist System And Are 'unavoidable' As A Means Of Bringing About Socialism.