History Can Tell Us What Happened In

There Is No Means Of Avoiding The Final Collapse Of A Boom Brought About By Credit Expansion. The Alternative Is Only Whether The Crisis Should Come Sooner As The Result Of Voluntary Abandonment Of Further Credit Expansion, Or Later As A Final And Total Catastrophe Of The Currency System Involved.

Every Step By Which An Individual Substitutes Concerted Action For Isolated Action Results In An Immediate And Recognizable Improvement In His Conditions. The Advantages Derived From Peaceful Cooperation And Division Of Labor Are Universal.

Is Still Fulfilling Its Social Function In Supplying The Consumers With More, Better And Cheaper Goods.

The Capitalist System, In Spite Of All Obstacles Put In Its Way By Governments And Politicians, Has Raised The Standard Of Living Of The Masses In An Unprecedented Way.

War Can Really Cause No Economic Boom, At Least Not Directly, Since An Increase In Wealth Never Does Result From Destruction Of Goods.