States Have Always Needed Intellectuals To Con

Money Is Different From All Other Commodities: Other Things Being Equal, More Shoes, Or More Discoveries Of Oil Or Copper Benefit Society, Since They Help Alleviate Natural Scarcity. But Once A Commodity Is Established As A Money On The Market, No More Money At All Is Needed. Since The Only Use Of Money Is For Exchange And Reckoning, More Dollars Or Pounds Or Marks In Circulation Cannot Confer A Social Benefit: They Will Simply Dilute The Exchange Value Of Every Existing Dollar Or Pound Or Mark.

John Stuart Was The Quintessence Of Soft Rather Than Hardcore, A Woolly Minded Man Of Mush In Striking Contrast To His Steel-edged Father.

The Natural Tendency Of The State Is Inflation.

In Fact, The Libertarian Would Reason That The Fact That Human Nature Is A Mixture Of Both Good And Evil Provides Its Own Particular Argument In His Favor. For If Man Is Such A Mixture, Then The Best Societal Framework Is Surely One In Which Evil Is Discouraged And The Good Encouraged. The Libertarian Maintains That The Existence Of The State Apparatus Provides A Ready, Swift Channel For The Exercise Of Evil, Since The Rulers Of The State Are Thereby Legitimated And Can Wield Compulsion In Ways That No One Else Is Permitted To Do.

The More Consistently Austrian School An Economist Is, The Better A Writer He Will Be.