Inflation Is A Form Of Tax, A

The System Of Capitalism, Of The Market Economy, Is A System Of Freedom, Of Justice, Of Productivity. But These Three Virtues Cannot Be Separated. Each Flows Out Of The Other.

Once The Idea Is Accepted That Money Is Something Whose Supply Is Determined Simply By The Printing Press, It Becomes Impossible For The Politicians In Power To Resist The Constant Demands For Further Inflation.

Government Can't Give Us Anything Without Depriving Us Of Something Else.

In A Free Enterprise System, With An Honest And Stable Money, There Is Dominantly A Close Link Between Effort And Productivity, On The One Hand, And Economic Reward On The Other. Inflation Severs This Link. Reward Comes To Depend Less And Less On Effort And Production, And More And More On Successful Gambling And Luck.

Modern Capitalism Benefited The Masses In A Double Way - Both By Greatly Increasing The Wages Of The Masses Of Workers And Greatly Reducing The Real Prices They Had To Pay For What Was Produced.