Inflationism, However, Is Not An Isolated Phenomenon.

The Recurrence Of Periods Of Depression And Mass Unemployment Has Discredited Capitalism In The Opinion Of Injudicious People. Yet These Events Are Not The Outcome Of The Operation Of The Free Market. They Are On The Contrary The Result Of Well-intentioned But Ill-advised Government Interference With The Market.

The Market Economy Needs No Apologists And Propagandists. It Can Apply To Itself The Words Of Sir Christopher Wren's Epitaph In St. Paul's: 'if You Seek His Monument, Look Around.'

Democracy Is Not A Good That People Can Enjoy Without Trouble. It Is, On The Contrary, A Treasure That Must Be Daily Defended And Conquered Anew By Strenuous Effort.

It Is Impossible To Understand The History Of Economic Thought If One Does Not Pay Attention To The Fact That Economics As Such Is A Challenge To The Conceit Of Those In Power.

Without Calculation, Economic Activity Is Impossible. Since Under Socialism Economic Calculation Is Impossible, Under Socialism There Can Be No Economic Activity In Our Sense Of The Word All Economic Change, Therefore, Would Involve Operations The Value Of Which Could Neither Be Predicted Beforehand Nor Ascertained After They Had Taken Place. Everything Would Be A Leap In The Dark. Socialism Is The Renunciation Of Rational Economy.