If there is to be no loss whatever of dignity or self-respect in getting and staying on relief, then there can be no gain in dignity or self-respect in makings some sacrifices to keep off.

A hundred welfare programs, spending more and more billions, lead to chronic budget deficits, which lead to increased paper-money issues, which lead to higher prices.

Need is not demand. Effective economic demand requires not merely need but corresponding purchasing power.

Once the idea is accepted that money is something whose supply is determined simply by the printing press, it becomes impossible for the politicians in power to resist the constant demands for further inflation.

If a government resorts to inflation, that is, creates money in order to cover its budget deficits or expands credit in order to stimulate business, then no power on earth, no gimmick, device, trick or even indexation can prevent its economic consequences.

New taxes are so unpopular that most 'social' handout schemes are originally enacted without enough increased taxation to pay for them. The result is chronic government deficits, paid for by the issuance of additional paper money.

Modern capitalism benefited the masses in a double way - both by greatly increasing the wages of the masses of workers and greatly reducing the real prices they had to pay for what was produced.