The Ideas Which Now Pass For Brilliant

The Times Call For Courage. The Times Call For Hard Work. But If The Demands Are High, It Is Because The Stakes Are Even Higher. They Are Nothing Less Than The Future Of Human Liberty, Which Means The Future Of Civilization.

Precisely Because The State Has The Monopoly Of Coercion It Can Be Allowed The Monopoly Only Of Coercion. Only If The Modern State Can Be Held Within A Strictly Limited Agency Of Duties And Powers Can It Be Prevented From Regimenting, Conquering, And Ultimately Devouring The Society Which Gave It Birth.

In A Thousand Fields The Welfarists, Statists, Socialists, And Interventionists Are Daily Driving For More Restrictions On Individual Liberty.

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.

Short-sighted And Impatient Efforts To Wipe Out Poverty By Severing The Connection Between Effort And Reward Can Only Lead To The Growth Of A Totalitarian State, And Destroy The Economic Progress That This Country Has So Dearly Bought.