The Final Outcome Of The Credit Expansion

Interventionism Cannot Be Considered As An Economic System Destined To Stay. It Is A Method For The Transformation Of Capitalism Into Socialism By A Series Of Successive Steps.

The Market And Its Inescapable Law Are Supreme.

They [intellectuals] Coined Most Of The Slogans That Guided The Butcheries Of Bolshevism, Fascism, And Nazism. Intellectuals Extolling The Delights Of Murder, Writers Advocating Censorship, Philosophers Judging The Merits Of Thinkers And Authors, Not According To The Value Of Their Contributions But According To Their Achievements On Battlefields, Are The Spiritual Leaders Of Our Age Of Perpetual Strife.

While Under Precapitalistic Conditions Superior Men Were The Masters On Whom The Masses Of The Inferior Had To Attend, Under Capitalism The More Gifted And More Able Have No Means To Profit From Their Superiority Other Than To Serve To The Best Of Their Abilities The Wishes Of The Majority Of The Less Gifted.

If People Do Not Consume Their Whole Incomes, The Non-consumed Surplus Can Be Invested, It Increases The Amount Of Capital Goods Available And Thereby Makes It Possible To Embark Upon Projects Which Could Not Be Executed Before.