Modern Capitalism Benefited The Masses In A

The More 'adequate' We Make Relief, The More People We Are Going To Find Willing To Get On It And Stay On It Indefinitely. The More We Try To Make Sure That Everybody Really In Need Of Relief Gets It, The More Certain We Can Be That We Are Also Giving It To People Who Neither Need Nor Deserve It.

A Hundred Welfare Programs, Spending More And More Billions, Lead To Chronic Budget Deficits, Which Lead To Increased Paper-money Issues, Which Lead To Higher Prices.

The Most Obvious And Yet The Oldest And Most Stubborn Error On Which The Appeal Of Inflation Rests Is That Of Confusing ‘money’ With ‘wealth’…real Wealth, Of Course, Consists In What Is Produced And Consumed: The Food We Eat, The Clothes We Wear, The Houses We Live In. It Is Railways And Roads And Motor Cars; Ships And Planes And Factories; Schools And Churches And Theaters; Pianos, Paintings And Books. Yet So Powerful Is The Verbal Ambiguity That Confuses Money With Wealth, That Even Those Who At Times Recognize The Confusion Will Slide Back Into It In The Course Of Their Reasoning.

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.

Economic Progress And Justice Do Not Consist In Superbly Equalized Destitution, But In The Constant Creation Of More And More Goods And Services, Of More And More Wealth And Income To Be Shared.