Inflation Is Essentially Antidemocratic.

Credit Expansion Is The Governments' Foremost Tool In Their Struggle Against The Market Economy. In Their Hands It Is The Magic Wand Designed To Conjure Away The Scarcity Of Capital Goods, To Lower The Rate Of Interest Or To Abolish It Altogether, To Finance Lavish Government Spending, To Expropriate The Capitalists, To Contrive Everlasting Booms, And To Make Everybody Prosperous.

Under Capitalism Everybody Provides For Their Own Needs By Serving Others.

Only To Bureaucrats Can The Idea Occur That Establishing New Offices, Promulgating New Decrees, And Increasing The Number Of Government Employees Alone Can Be Described As Positive And Beneficial Measures.

Notwithstanding All The Passionate Fulminations Of The Spokesmen Of Governments, The Inevitable Consequences Of Inflationism And Expansionism...are Coming To Pass. And Then, Very Late Indeed, Even Simple People Will Discover That Keynes Did Not Teach Us How To Perform The 'miracle...of Turning A Stone Into Bread,' But The Not At All Miraculous Procedure Of Eating The Seed Corn.

Each Epoch Has Found In The Gospels What It Sought To Find There, And Has Overlooked What It Wished To Overlook.