Government-to-government aid rests on socialistic assumptions and promotes socialism and stagnation, whereas private foreign investment rest on capitalist assumptions and promotes private enterprise and maximum economic growth.

Inflation makes the extension of socialism possible by providing the financial chaos in which it flourishes. The fact is that socialism and inflation are cause and effect, they feed on each other!

The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.

The solution to our problems is not more paternalism, laws, decrees, and controls, but the restoration of liberty and free enterprise, the restoration of incentives, to let loose the tremendous constructive energies of 300 million Americans.

When people who earn more than the average have their 'surplus', or the greater part of it, seized from them in taxes, and when people who earn less than average have the deficiency , or the greater part of it, turned over to them in hand-outs and doles, the production of all must sharply decline; for the energetic and able who lose their incentive to produce more than the average, and the slothful and unskilled lose their incentive to improve their condition.

Everything we get, outside of the free gifts of nature, must in some way be paid for. The world is full of so- called economists who in turn are full of schemes for getting something for nothing. They tell us that the government can spend and spend without taxing at all; that it can continue to pile up debt without ever paying it off, because "we owe it to ourselves."

There is no more certain way to deter employment than to harass and penalize employers.