Socialist Society Is A Society Of Officials.

Progressive Taxation Of Income And Profits Means That Precisely Those Parts Of The Income Which People Would Have Saved And Invested Are Taxed Away

Capitalism Or Market Economy Is That System Of Social Cooperation And Division Of Labor That Is Based On Private Ownership Of The Means Of Production.

These People Talk Of A "middle-of-the-road" Policy. What They Do Not See Is That The Isolated Interference, Which Means The Interference With Only One Small Part Of The Economic System, Brings About A Situation Which The Government Itself — And The People Who Are Asking For Government Interference — Find Worse Than The Conditions They Wish To Abolish: The People Who Are Asking For Rent Control Are Very Angry When They Discover There Is A Shortage Of Apartments And A Shortage Of Housing.

If The Present Tax Rates Had Been In Effect From The Beginning Of Our Century, Many Who Are Millionaires Today Would Live Under More Modest Circumstances. But All Those New Branches Of Industry Which Supply The Masses With Articles Unheard Of Before, Would Operate, If At All, On A Much Smaller Scale, And Their Products Would Be Beyond The Reach Of The Common Man.

The Essence Of Keynesianism Is Its Complete Failure To Conceive The Role That Saving And Capital Accumulation Play In The Improvement Of Economic Conditions.