All present-day governments are fanatically committed to an easy money policy.

Welfare policies never attain those - allegedly beneficial - ends which the government and the self-styled progressives who advocated them wanted to attain, but - on the contrary - bring about a state of affairs which - from the very point of view of the government and its supporters - is even more unsatisfactory than the previous state of affairs they wanted to 'improve.'

What is lacking to the underdeveloped nations is not knowledge, but capital.

Capitalists have the tendency to move toward those countries in which there is plenty of labor available and at which labor is reasonable. And by the fact that they bring capital into these countries, they bring about a trend toward higher wage rates.

The characteristic mark of this age of dictators, wars and revolutions is its anticapitalistic bias. Most governments and political parties were eager to restrict the sphere of private initiative and free enterprise.

Government is a guarantor of liberty and is compatible with liberty only if its range is adequately restricted to the preservation of what is called economic freedom.

Inflation has always been an important resource of policies of war and revolution and why we also find it in the service of socialism.