What People Today Call Inflation Is Not

Economic Progress Is The Work Of The Savers, Who Accumulate Capital, And Of The Entrepreneurs, Who Turn Capital To New Uses.

In Reality No Food Is Valued Solely For Its Nutritive Power And No Garment Or House Solely For The Protection It Affords Against Cold Weather And Rain.... The Demand For Goods Is Widely Influenced By Metaphysical, Religious, And Ethical Considerations, By Aesthetic Value Judgments, By Customs, Habits, Prejudice, Tradition, Changing Fashions, And Many Other Things.

The Marxians Love Of Democratic Institutions Was A Stratagem Only, A Pious Fraud For The Deception Of The Masses. Within A Socialist Community There Is No Room Left For Freedom.

If One Regards Inflation As An Evil, Then One Has To Stop Inflating. One Has To Balance The Budget Of The Government.

History Does Not Provide Any Example Of Capital Accumulation Brought About By A Government. As Far As Governments Invested In The Construction Of Roads, Railroads, And Other Useful Public Works, The Capital Needed Was Provided By The Savings Of Individual Citizens And Borrowed By The Government.