Prolonged Inflation Never 'stimulates' The Economy. On

A Certain Amount Of Taxes Is Of Course Indispensable To Carry On Essential Government Functions. Reasonable Taxes For This Purpose Need Not Hurt Production Much.

The Proposal Is Frequently Made That The Government Ought To Assume The Risks That Are "too Great For Private Industry." This Means That Bureaucrats Should Be Permitted To Take Risks With The Tax Payer's Money That No One Is Willing To Take With His Own.

Practically All Government Attempts To Redistribute Wealth And Income Tend To Smother Productive Incentives And Lead Toward General Impoverishment.

Some Champions Of Ever-greater Governmental Power And Spending Invent The Theory That The Taxpayers, Left To Themselves, Spend The Money They Have Earned Very Foolishly, On All Sorts Of Trivialities And Rubbish, And That Only The Bureaucrats, By First Seizing It From Them, Will Know How To Spend It Wisely.

Libertarians Are Learning To Their Sorrow That Big Businessmen Cannot Necessarily Be Relied Upon To Be Their Allies In The Battle Against Extension Of Governmental Encroachments.