Modern Society, Based As It Is On

It Is Extremely Difficult For Our Contemporaries To Conceive Of The Conditions Of Free Banking Because They Take Government Interference With Banking For Granted And As Necessary.

Political Ideas That Have Dominated The Public Mind For Decades Cannot Be Refuted Through Rational Arguments. They Must Run Their Course In Life And Cannot Collapse Otherwise Than In Great Catastrophe.

The Illusiveness Of This Concept Of National Income Is To Be Seen In Its Dependence On Changes In The Purchasing Power Of The Monetary Unit. The More Inflation Progresses, The Higher Rises The National Income.

If One Regards Inflation As An Evil, Then One Has To Stop Inflating. One Has To Balance The Budget Of The Government.

Thus, The Isolated Interference With One Or A Few Prices Of Consumer Goods Always Bring About Effects-and This Is Important To Realize-which Are Even Less Satisfactory Than The Conditions That Prevailed Before.