Economics Is Not About Things And Tangible

Against What Is Stupid, Nonsensical, Erroneous, And Evil, [classical] Liberalism Fights With The Weapons Of The Mind, And Not With Brute Force And Repression.

In The Land Of The Lotus-eaters There Is No Action. Action Arises Only From Need, From Dissatisfaction. It Is Purposeful Striving Towards Something. Its Ultimate End Is Always To Get Rid Of A Condition Which Is Conceived To Be Deficient-to Fulfill A Need, To Achieve Satisfaction, To Increase Happiness.

The Essence Of Keynesianism Is Its Complete Failure To Conceive The Role That Saving And Capital Accumulation Play In The Improvement Of Economic Conditions.

The Characteristic Mark Of Economic History Under Capitalism Is Unceasing Economic Progress, A Steady Increase In The Quantity Of Capital Goods Available, And A Continuous Trend Toward An Improvement In The General Standard Of Living.

There Is No Means Of Avoiding The Final Collapse Of A Boom Brought About By Credit Expansion. The Alternative Is Only Whether The Crisis Should Come Sooner As The Result Of Voluntary Abandonment Of Further Credit Expansion, Or Later As A Final And Total Catastrophe Of The Currency System Involved.