The most important thing to remember is that inflation is not an act of God, that inflation is not a catastrophe of the elements or a disease that comes like the plague. Inflation is a policy.
The champions of socialism call themselves progressives, but they recommend a system which is characterized by rigid observance of routine and by a resistance to every kind of improvement. They call themselves liberals, but they are intent upon abolishing liberty. They call themselves democrats, but they yearn for dictatorship. They call themselves revolutionaries, but they want to make the government omnipotent. They promise the blessings of the Garden of Eden, but they plan to transform the world into a gigantic post office. Every man but one a subordinate clerk in a bureau.
Liberty is meaningless if it is only the liberty to agree with those in power.
The advocates of public control cannot do without inflation. They need it in order to finance their policy of reckless spending and of lavishly subsidizing and bribing the voters.
The worship of the state is the worship of force. There is no more dangerous menace to civilization than a government of incompetent, corrupt, or vile men. The worst evils which mankind ever had to endure were inflicted by governments.
There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.
Innovators and creative geniuses cannot be reared in schools. They are precisely the men who defy what the school has taught them.
Every socialist is a disguised dictator.
Government is the only institution that can take a valuable commodity like paper, and make it worthless by applying ink.
If history could teach us anything, it would be that private property is inextricably linked with civilization.
The struggle for freedom is ultimately not resistance to autocrats or oligarchs but resistance to the despotism of public opinion.
Socialism is not in the least what it pretends to be. It is not the pioneer of a better and finer world, but the spoiler of what thousands of years of civilization have created. It does not build, it destroys. For destruction is the essence of it. It produces nothing, it only consumes what the social order based on private ownership in the means of production has created.
Government spending cannot create additional jobs. If the government provides the funds required by taxing the citizens or by borrowing from the public, it abolishes on the one hand as many jobs as it creates on the other.
The truth is that most people lack the intellectual ability and courage to resist a popular movement, however pernicious and ill-considered.
He who is unfit to serve his fellow citizens wants to rule them.
Every government intervention [in the marketplace] creates unintended consequences, which lead to calls for further government interventions.
Whoever wishes peace among peoples must fight statism.
Continued inflation inevitably leads to catastrophe.
The worst evils which mankind has ever had to endure were inflicted by bad governments.
Private property creates for the individual a sphere in which he is free of the state. It sets limits to the operation of the authoritarian will.
Liberty is always freedom from the government.
If one regards inflation as an evil, then one has to stop inflating. One has to balance the budget of the government.
A society that chooses between capitalism and socialism does not choose between two social systems; it chooses between social cooperation and the disintegration of society. Socialism is not an alternative to capitalism; it is an alternative to any system under which men can live as human beings.
All rational action is in the first place individual action. Only the individual thinks. Only the individual reasons. Only the individual acts.
What economic calculation requires is a monetary system whose functioning is not sabotaged by government interference.
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