The Solution To Our Problems Is Not

We Are So Accustomed To The Miracle Of Private Enterprise That We Habitually Take It For Granted. But How Does Private Industry Solve The Incredibly Complex Problem Of Turning Out Tens Of Thousands Of Different Goods And Services In The Proportions In Which They Are Wanted By The Public? ... It Solves These Problems Through The Institutions Of Private Property, Competition, The Free Market, And The Existence Of Money - Through The Interrelations Of Supply And Demand, Costs And Prices, Profits And Losses.

The Monetary Managers Are Fond Of Telling Us That They Have Substituted 'responsible Money Management' For The Gold Standard. But There Is No Historic Record Of Responsible Paper Money Management ... The Record Taken, As A Whole Is One Of Hyperinflation, Devaluation And Monetary Chaos.

Would-be Income Guarantors Ignore Or Despise The Capitalistic System That Makes Their Dreams Dreamable And Gives Their Redistribute-the-income Proposals Whatever Plausibility They Have.

A Certain Amount Of Taxes Is Of Course Indispensable To Carry On Essential Government Functions. Reasonable Taxes For This Purpose Need Not Hurt Production Much.

New Taxes Are So Unpopular That Most 'social' Handout Schemes Are Originally Enacted Without Enough Increased Taxation To Pay For Them. The Result Is Chronic Government Deficits, Paid For By The Issuance Of Additional Paper Money.