Need Is Not Demand. Effective Economic Demand

Socialists Will Often Talk As If Some Form Of Superbly Equalized Destitution Were Preferable To "maldistributed" Plenty. A National Income That Is Rapidly Growing In Absolute Terms For Practically Everyone Will Be Deplored Because It Is Making The Rich Richer.

Government Welfarism, With Its Ever-increasing Army Of Pensioners And Other Beneficiaries, Is Fatally Easy To Launch And Fatally Easy To Extend, But Almost Impossible To Bring To A Halt - And Quite Impossible Politically To Reverse, No Matter How Obvious And Catastrophic Its Consequences Become.

In Practice [monetary Management] Is Merely A High-sounding Euphemism For Continuous Currency Debasement. It Consists Of Constant Lying In Order To Support Constant Swindling. Instead Of Automatic Currencies Based On Gold, People Are Forced To Take Managed Currencies Based On Guile. Instead Of Precious Metals They Hold Paper Promises Whose Value Falls With Every Bureaucratic Whim. And They Are Suavely Assured That Only Hopelessly Antiquated Minds Dream Of Returning To Truth And Honesty And Solvency And Gold.

The Way To Get A Maximum Rate Of 'economic Growth' Assuming This To Be Our Aim - Is To Give Maximum Encouragement To Production, Employment, Saving, And Investment. And The Way To Do This Is To Maintain A Free Market And A Sound Currency.

The Sad Fact Is That Today Most Of The Heads Of Big Businesses In America Have Become So Confused Or Intimidated That, So Far From Carrying The Free Market To Argument To The Enemy, They Fail To Defend Themselves Adequately Even When Attacked.