What precisely is this disease that causes inflation and all these other troubles? It has many popular names, such as socialism, communism, state interventionism, and welfare statism.

I can remember the time when, if we wanted a house or housing, we relied on private enterprise. In fact, Americans built more square feet of housing per person than any other country on the face of the earth. Despite that remarkable accomplishment, more and more people are coming to believe that the only way we can have adequate housing is to use government to take the earnings from some and give these earnings, in the form of housing, to others.

Under both the welfare state and communism, the responsibility for the welfare, security, and prosperity of the people is presumed to rest with the central government.

The American people are becoming more and more afraid of, and are running away from, their own revolution.

Whenever government assumed responsibility for the security, welfare, and prosperity of citizens, the costs of government rise beyond the point where it is politically expedient to cover them by direct tax levies.

The right way is the greatest gratifier of human wishes ever come upon - when allowed to operate. It is as morally sound as the Golden Rule. It is the way of willing exchange, of common consent, of self-responsibility, of open opportunity. It respects the right of each to the product of his labor. It limits the police force to keeping the peace. It is the way of the free market, private property, limited government. On its banner is emblazoned Individual Liberty.

In market terms, one is entitled to what others will offer in willing exchange. That is all!