Contrary To Age-old Prejudices, The Wealth Of

Government Relief Tends Constantly To Get Out Of Hand. And Even When It Is Kept Within Reasonable Bounds It Tends To Reduce The Incentives To Work And To Save Both Of Those Who Receive It And Of Those Who Are Forced To Pay It. It May Be Said, In Fact, That Practically Every Measure That Governments Take With The Ostensible Object Of 'helping The Poor' Has The Long-run Effect Of Doing The Opposite.

The Bad Economist Sees Only What Immediately Strikes The Eye; The Good Economist Also Looks Beyond. The Bad Economist Sees Only The Direct Consequences Of A Proposed Course; The Good Economist Looks Also At The Longer And Indirect Consequences. The Bad Economists Sees Only What The Effect Of A Given Policy Has Been Or Will Be On One Particular Group; The Good Economist Inquires Also What The Effect Of The Policy Will Be On All Groups

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.

Short-sighted And Impatient Efforts To Wipe Out Poverty By Severing The Connection Between Effort And Reward Can Only Lead To The Growth Of A Totalitarian State, And Destroy The Economic Progress That This Country Has So Dearly Bought.

There Is No More Certain Way To Deter Employment Than To Harass And Penalize Employers.