We Must Raise And Train An Army

If Socialists Understood Economics, They Wouldn't Be Socialist.

I Regard It In Fact As The Great Advantage Of The Mathematical Technique That It Allows Us To Describe, By Means Of Algebraic Equations, The General Character Of A Pattern Even Where We Are Ignorant Of The Numerical Values Which Will Determine Its Particular Manifestation.

If This Is The Degree Of Inflation Planned For In Advance, The Real Outcome Is Indeed Likely To Be Such That Most Of Those Who Will Retire At The End Of The Century Will Be Dependent On The Charity Of The Younger Generation. And Ultimately Not Morals But The Fact That The Young Supply The Police And The Army Will Decide The Issue: Concentration Camps For The Aged Unable To Maintain Themselves Are Likely To Be The Fate Of An Old Generation Whose Income Is Entirely Dependent On Coercing The Young.

It Used To Be The Boast Of Free Men That, So Long As They Kept Within The Bounds Of The Known Law, There Was No Need To Ask Anybody's Permission Or To Obey Anybody's Orders. It Is Doubtful Whether Any Of Us Can Make This Claim Today.

The System Of Private Property Is The Most Important Guaranty Of Freedom, Not Only For Those Who Own Property, But Scarcely Less For Those Who Do Not.