The Final Outcome Of The Credit Expansion

The Main Political Problem Is How To Prevent The Police Power From Becoming Tyrannical. This Is The Meaning Of All The Struggles For Liberty.

The Usual Terminology Of Political Language Is Stupid. What Is 'left' And What Is 'right'? Why Should Hitler Be 'right' And Stalin, His Temporary Friend, Be 'left'? Who Is 'reactionary' And Who Is 'progressive'? Reaction Against An Unwise Policy Is Not To Be Condemned. And Progress Towards Chaos Is Not To Be Commended.

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.

A Country Becomes More Prosperous In Proportion To The Rise In The Invested Capital Unit Per Unit Of Its Population.

To Defeat The Aggressors Is Not Enough To Make Peace Durable. The Main Thing Is To Discard The Ideology That Generates War.