The Truth Is That Most People Lack

There Can Be No Freedom In Art And Literature Where The Government Determines Who Shall Create Them.

Economics Is A Theoretical Science And As Such Abstains From Any Judgement Of Value. It Is Not Its Task To Tell People What Ends They Should Aim At. It Is A Science Of The Means To Be Applied For Attainment Of Ends Chosen, Not, To Be Sure, A Science Of The Choosing Of Ends. Ultimate Decisions, The Valuations And The Choosing Of Ends, Are Beyond The Scope Of Any Science. Science Never Tells A Man How He Should Act; It Merely Shows How A Man Must Act If He Wants To Attain Definite Ends.

What Vitiates Entirely The Socialists Economic Critique Of Capitalism Is Their Failure To Grasp The Sovereignty Of The Consumers In The Market Economy.

The Gold Standard Did Not Collapse. Governments Abolished It In Order To Pave The Way For Inflation. The Whole Grim Apparatus Of Oppression And Coercion, Policemen, Customs Guards, Penal Courts, Prisons, In Some Countries Even Executioners, Had To Be Put Into Action In Order To Destroy The Gold Standard.

Credit Expansion Can Bring About A Temporary Boom. But Such A Fictitious Prosperity Must End In A General Depression Of Trade, A Slump.