When Any Welfare Scheme Is Being Proposed,

The Whole Gospel Of Karl Marx Can Be Summed Up In A Single Sentence: Hate The Man Who Is Better Off Than You Are. Never Under Any Circumstances Admit That His Success May Be Due To His Own Efforts, To The Productive Contribution He Has Made To The Whole Community. Always Attribute His Success To The Exploitation, The Cheating, The More Or Less Open Robbery Of Others. Never Under Any Circumstances Admit That Your Own Failure May Be Owing To Your Own Weakness, Or That The Failure Of Anyone Else May Be Due To His Own Defects - His Laziness, Incompetence, Improvidence, Or Stupidity.

A Day Never Passes Without Some Ardent Reformer Or Group Of Reformers Suggesting Some New Government Intervention, Some New Statist Scheme To Fill Some Alleged 'need' Or Relieve Some Alleged Distress.

New Taxes Are So Unpopular That Most 'social' Handout Schemes Are Originally Enacted Without Enough Increased Taxation To Pay For Them.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.

Economics Is Haunted By More Fallacies Than Any Other Study Known To Man. This Is No Accident. The Inherent Difficulties Of The Subject Would Be Great Enough In Any Case, But They Are Multiplied A Thousandfold By A Factor That Is Insignificant In, Say, Physics, Mathematics Or Medicine - The Special Pleading Of Selfish Interests.

From A Strictly Economic Point Of View, Buying Gold In A Major Inflation And Holding It Probably Presents The Least Risk Of Capital Loss Of Any Investment Or Speculation.