The social and racial conflict, which springs from the redistribution ideology, may deepen as economic output is shrinking and transfer 'entitlements cause budget deficits to soar. The U.S. dollar, which has become a mere corollary of government finance, is likely to survive the soaring deficits.

The transfer society is forever testing the bounds of patience of taxpayers. Having reached the limit and still facing loud demands for more benefits, it resorts to deficit financing.

Most politicians are ever eager to regulate industrial and commercial activity and strike at the economic elite with confiscatory taxation. Unfortunately, regulation and taxation tend to hamper economic activity, inhibit productivity, and depress levels of living.

Instead of safeguarding truth and honesty, the state then tends to become a major source of insincerity and mendacity.

Every businessman enjoying customer patronage, whether he be a baker, banker, or barber is conferring a public benefit, raising production, and reducing unemployment; businessmen earn their livelihood by producing products and rendering services where ever they are needed.

A 'social justice' society is a conflict which locks beneficiaries and victims alike in a struggle without end. It becomes a society torn apart by resentment over the wealth of capitalists.

Envy is more irreconcilable than hate. It is the most corroding of all political vices and also a great power in our land. The friends of freedom are content to be envied, but envy not.