A Man Who Is Good From Docility,

Arbitrary Government Power Is Being Multiplied Daily By The Now Practically Unchallenged Assumption That Wherever There Is Any Problem Of Any Kind To Be Solved, Government Is The Agency To Step In And Solve It.

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.

Economics Is Haunted By More Fallacies Than Any Other Study Known To Man

The Question Is Not Whether We Wish To See Everybody As Well Off As Possible. Among Men Of Good Will Such An Aim Can Be Taken For Granted. The Real Question Concerns The Proper Means Of Achieving It. And In Trying To Answer This We Must Never Lose Sight Of A Few Elementary Truisms. We Cannot Distribute More Wealth Than Is Created. We Cannot In The Long Run Pay Labor As A Whole More Than It Produces.

The More Things A Government Undertakes To Do, The Fewer Things It Can Do Completely. When The Government Tries To Do Everything It Must Do Everything Badly.