Liberty Is The Essential Basis, The Sine

There Is A Profound Contrast Between The Effects Of Foreign Aid And Of Voluntary Private Investment: Foreign Aid Goes From Government To Government. It Is Therefore Almost Inevitably Statist And Socialistic.

Would-be Income Guarantors Ignore Or Despise The Capitalistic System That Makes Their Dreams Dreamable And Gives Their Redistribute-the-income Proposals Whatever Plausibility They Have.

Government Relief Tends Constantly To Get Out Of Hand. And Even When It Is Kept Within Reasonable Bounds It Tends To Reduce The Incentives To Work And To Save Both Of Those Who Receive It And Of Those Who Are Forced To Pay It. It May Be Said, In Fact, That Practically Every Measure That Governments Take With The Ostensible Object Of 'helping The Poor' Has The Long-run Effect Of Doing The Opposite.

When People Who Earn More Than The Average Have Their 'surplus', Or The Greater Part Of It, Seized From Them In Taxes, And When People Who Earn Less Than Average Have The Deficiency , Or The Greater Part Of It, Turned Over To Them In Hand-outs And Doles, The Production Of All Must Sharply Decline; For The Energetic And Able Who Lose Their Incentive To Produce More Than The Average, And The Slothful And Unskilled Lose Their Incentive To Improve Their Condition.

In Order That One Industry Might Grow Or Come Into Existence, A Hundred Other Industries Would Have To Shrink.