It Is Clear That Every Civilization Undergoes

We See That There Are Two Different Kinds Of...societies: (a) Parasitic Societies And (b) Producing Societies. The Former Are Those Which Live From Hunting, Fishing, Or Merely Gleaning. By Their Economic Activities They Do Not Increase, But Rather Decrease, The Amount Of Wealth In The World. The Second Kind Of Societies, Producing Societies, Live By Agricultural And Pastoral Activities. By These Activities They Seek To Increase The Amount Of Wealth In The World.

When We Approach History, We Are Dealing With A Conglomeration Of Irrational Continua. Those Who Deal With History By Nonrational Processes Are The Ones Who Make History, The Actors In It.

Inflation, Especially A Slow Steady Rise In Prices, Encourages Producers, Because It Means That They Can Commit Themselves To Costs Of Production On One Price Level And Then, Later, Offer The Finished Product For Sale At A Somewhat Higher Price Level. This Situation Encourages Production Because It Gives Confidence Of An Almost Certain Profit Margin.

Thus, The Use Of Fiat Money Is More Justifiable In Financing A Depression Than In Financing A War.

The Argument That The Two Parties Should Represent Opposed Ideals And Policies, One, Perhaps, Of The Right And The Other Of The Left, Is A Foolish Idea Acceptable Only To Doctrinaire And Academic Thinkers. Instead, The Two Parties Should Be Almost Identical, So That The American People Can Throw The Rascals Out At Any Election Without Leading To Any Profound Or Extensive Shifts In Policy. Then It Should Be Possible To Replace It, Every Four Years If Necessary, By The Other Party, Which Will Be None Of These Things But Will Still Pursue, With New Vigor, Approximately The Same Basic Policies.