Government Planning Always Involves Compulsion.

There Are Men Regarded Today As Brilliant Economists, Who Deprecate Saving And Recommend Squandering On A National Scale As The Way Of Economic Salvation; And When Anyone Points To What The Consequences Of These Policies Will Be In The Long Run, They Reply Flippantly, As Might The Prodigal Son Of A Warning Father: 'in The Long Run We Are All Dead.' And Such Shallow Wisecracks Pass As Devastating Epigrams And The Ripest Wisdom.

In A Free Enterprise System, With An Honest And Stable Money, There Is Dominantly A Close Link Between Effort And Productivity, On The One Hand, And Economic Reward On The Other. Inflation Severs This Link. Reward Comes To Depend Less And Less On Effort And Production, And More And More On Successful Gambling And Luck.

The Ideas Which Now Pass For Brilliant Innovations And Advances Are In Fact Mere Revivals Of Ancient Errors, And A Further Proof Of The Dictum That Those Who Are Ignorant Of The Past Are Condemned To Repeat It.

Bureaucrats Denounce Private Enterprise For The Consequences Of Their Own Reckless Policies And Demand Still More Governmental Controls.

The Army Of Relief And Other Subsidy Recipients Will Continue To Grow, And The Solvency Of The Government Will Become Increasingly Un Tenable, As Long As Part Of The Population Can Vote To Force The Other Part To Support It.