One of the most important features of our economic resources is their scarcity: land, labor, and capital goods factors are all scarce, and may all be put to various possible uses. The free market uses them 'productively' because the producers are guided, on the market, to produce what the consumers most need: automobiles, for example, rather than buggies.
important quotesfeatures quoteseconomic quotesresources quotesscarcity quotesland quoteslabor quotescapital quotesgoods quotesfactors quotesscarce quotesput quotesfree quotesmarket quotesproductively quotesproducers quotesguided quotesmarket quotesproduce quotesconsumers quotesautomobiles quotesbuggies quotes
The policy of letting the child 'do what he likes' is an insidious one, since the children are encouraged to continue always at their original superficial level, without receiving guidance in study. Furthermore, the 'three Rs,' the fundamental tools, are neglected as long as possible, with the result that the child's chance to develop his mind is greatly retarded. The policy of teaching words via pictures instead of by the alphabet tends to deprive the young child of the greatest reasoning tool of all.
policy quotesletting quoteschild quotesdo quoteslikes quotesinsidious quoteschildren quotesencouraged quotescontinue quotesoriginal quotessuperficial quoteslevel quotesreceiving quotesguidance quotesstudy quotesthree quotesrs quotesfundamental quotestools quotesneglected quoteslong quotesresult quoteschilds quoteschance quotesdevelop quotesmind quotesgreatly quotesretarded quotesteaching quoteswords quotespictures quotesalphabet quotesdeprive quotesyoung quotesgreatest quotesreasoning quotestool quotes
Rule by the statist elite is not benign or simply a matter of who happens to be in office: it is rule by a growing army of leeches and parasites battening off the income and wealth of hard-working Americans, destroying their property, corrupting their customs and institutions, sneering at their religion.
rule quotesstatist quoteselite quotesbenign quotessimply quotesmatter quotesoffice quotesrule quotesgrowing quotesarmy quotesleeches quotesparasites quotesbattening quotesincome quoteswealth quoteshardworking quotesamericans quotesdestroying quotesproperty quotescorrupting quotescustoms quotesinstitutions quotessneering quotesreligion quotes
Human life is not some sort of race or game in which each person should start from an identical mark. It is an attempt by each man to be as happy as possible. And each person could not begin from the same point, for the world has not just come into being; it is diverse and infinitely varied in its parts. The mere fact that one individual is necessarily born in a different place from someone else immediately insures that his inherited opportunity cannot be the same as his neighbor's.
human quoteslife quotessort quotesrace quotesgame quotesperson quotesstart quotesidentical quotesmark quotesattempt quotesman quoteshappy quotesbegin quotespoint quotesworld quotesdiverse quotesinfinitely quotesvaried quotesparts quotesmere quotesfact quotesindividual quotesnecessarily quotesborn quotesplace quotesimmediately quotesinsures quotesinherited quotesopportunity quotesneighbors quotes
No one may threaten or commit violence ('aggress') against another man's person or property. Violence may be employed only against the man who commits such violence; that is, only defensively against the aggressive violence of another. In short, no violence may be employed against a non-aggressor. Here is the fundamental rule from which can be deduced the entire corpus of libertarian theory.
threaten quotescommit quotesviolence quotesaggress quotesmans quotesperson quotesproperty quotesviolence quotesemployed quotesman quotescommits quotesviolence quotesdefensively quotesaggressive quotesshort quotesnonaggressor quotesfundamental quotesrule quotesdeduced quotesentire quotescorpus quoteslibertarian quotestheory quotes
The libertarian sees the State as a giant gang of organized criminals, who live off the theft called "taxation" and use the proceeds to kill, enslave, and generally push people around. Therefore, any property in the hands of the State is in the hands of thieves, and should be liberated as quickly as possible. Any person or group who liberates such property, who confiscates or appropriates it from the State, is performing a virtuous act and a signal service to the cause of liberty.
libertarian quotessees quotesstate quotesgiant quotesgang quotesorganized quotescriminals quoteslive quotestheft quotescalled quotestaxation quotesproceeds quoteskill quotesenslave quotesgenerally quotespush quotespeople quotesproperty quoteshands quotesthieves quotesliberated quotesquickly quotesperson quotesgroup quotesliberates quotesproperty quotesconfiscates quotesappropriates quotesstate quotesperforming quotesvirtuous quotesact quotessignal quotesservice quotesliberty quotes
Since leaving office in 1977, Dr. Kissinger has continued to play a highly influential role in U.S. politics, in the U.S. media, and in the Rockefeller world empire. It was Kissinger, along with David Rockefeller, who was decisive in the disastrous decision of President Carter to admit the recently toppled Shah of Iran, old friend and ally of the Rockefellers into the United States, a decision that led directly to the Iranian hostage crisis and to Carter's downfall.
leaving quotesoffice quotes1977 quotesdr quoteskissinger quotescontinued quotesplay quoteshighly quotesinfluential quotesrole quotespolitics quotesmedia quotesrockefeller quotesworld quotesempire quoteskissinger quotesdavid quotesrockefeller quotesdecisive quotesdisastrous quotesdecision quotespresident quotescarter quotesadmit quotesrecently quotestoppled quotesshah quotesiran quotesfriend quotesally quotesrockefellers quotesunited quotesstates quotesled quotesdirectly quotesiranian quoteshostage quotescrisis quotescarters quotesdownfall quotes
Kissinger's major, and most lucrative role, has come as head of Kissinger Associates in New York City, founded on a loan obtained in 1982 from the international banking firm of E.M. Warburg, Pincus and Company. Nominally, Kissinger Associates (KA) is an "international consulting firm" but "consultant" covers many sins, and in KA's case, this means international political influence-peddling for its two dozen or so important corporate clients.
kissingers quotesmajor quoteslucrative quotesrole quoteshead quoteskissinger quotesassociates quotesyork quotescity quotesfounded quotesloan quotesobtained quotes1982 quotesinternational quotesbanking quotesfirm quotesem quoteswarburg quotespincus quotescompany quotesnominally quoteska quotesinternational quotesconsulting quotesfirm quotesconsultant quotescovers quotessins quoteskas quotescase quotesmeans quotespolitical quotesinfluencepeddling quotesdozen quotesimportant quotescorporate quotesclients quotes
The diversity of mankind is a basic postulate of our knowledge of human beings. But if mankind is diverse and individuated, then how can anyone propose equality as an ideal? Every year, scholars hold Conferences on Equality and call for greater equality, and no one challenges the basic tenet. But what justification can equality find in the nature of man? If each individual is unique, how else can he be made 'equal' to others than by destroying most of what is human in him and reducing human society to the mindless uniformity of the ant heap?
diversity quotesmankind quotesbasic quotespostulate quotesknowledge quoteshuman quotesbeings quotesdiverse quotesindividuated quotespropose quotesequality quotesideal quotesyear quotesscholars quoteshold quotesconferences quotesequality quotescall quotesgreater quotesequality quoteschallenges quotestenet quotesjustification quotesfind quotesnature quotesman quotesindividual quotesunique quotesmade quotesequal quotesdestroying quotesreducing quotessociety quotesmindless quotesuniformity quotesant quotesheap quotes
The individual man, in introspecting the fact of his own consciousness, also discovers the primordial natural fact of his freedom: his freedom to choose, his freedom to use or not use his reason about any given subject. In short, the natural fact of his "free will." He also discovers the natural fact of his mind's command over his body and its actions: that is, of his natural ownership over his self.
Money is different from all other commodities: other things being equal, more shoes, or more discoveries of oil or copper benefit society, since they help alleviate natural scarcity. But once a commodity is established as a money on the market, no more money at all is needed. Since the only use of money is for exchange and reckoning, more dollars or pounds or marks in circulation cannot confer a social benefit: they will simply dilute the exchange value of every existing dollar or pound or mark.
money quotescommodities quotesthings quotesequal quotesshoes quotesdiscoveries quotesoil quotescopper quotesbenefit quotessociety quotesalleviate quotesnatural quotesscarcity quotescommodity quotesestablished quotesmoney quotesmarket quotesneeded quotesexchange quotesreckoning quotesdollars quotespounds quotesmarks quotescirculation quotesconfer quotessocial quotesbenefit quotessimply quotesdilute quotesexisting quotesdollar quotespound quotesmark quotes
This process, this method necessary to man's survival and prosperity upon the earth, has often been derided as unduly or exclusively "materialistic." But it should be clear that what has happened in this activity proper to man's nature is a fusion of "spirit" and matter; man's mind, using the ideas it has learned, directs his energy in transforming and reshaping matter into ways to sustain and advance his wants and his life. Behind every "produced" good, behind every man-made transformation of natural resources, is an idea directing the effort, a manifestation of man's spirit.
process quotesmethod quotesmans quotessurvival quotesprosperity quotesearth quotesderided quotesunduly quotesexclusively quotesmaterialistic quotesclear quoteshappened quotesactivity quotesproper quotesnature quotesfusion quotesspirit quotesmatter quotesmind quotesideas quoteslearned quotesdirects quotesenergy quotestransforming quotesreshaping quotesmatter quotesways quotessustain quotesadvance quoteslife quotesproduced quotesgood quotesmanmade quotestransformation quotesnatural quotesresources quotesidea quotesdirecting quoteseffort quotesmanifestation quotesspirit quotes
What do intellectuals and opinion makers get from big government? An increasing number of cushy jobs in the bureaucracy, or in the government-subsidized sector, staffing the welfare regulatory state, and apologizing for its policies, as well as propagandizing for them among the public. To put it bluntly, intellectuals, theorists, pundits, media elites, etc. get to live a life which they could not attain on the free market, but which they can gain at taxpayer expense.
intellectuals quotesopinion quotesmakers quotesbig quotesgovernment quotesincreasing quotesnumber quotescushy quotesjobs quotesbureaucracy quotesgovernmentsubsidized quotessector quotesstaffing quoteswelfare quotesregulatory quotesstate quotesapologizing quotespolicies quotespropagandizing quotespublic quotesput quotesbluntly quotesintellectuals quotestheorists quotespundits quotesmedia quoteselites quoteslive quoteslife quotesattain quotesfree quotesmarket quotesgain quotestaxpayer quotesexpense quotes
While big-business leaders and firms can be highly productive, servants of consumers in a free market economy, they are also all too often, seekers after subsidies, contracts, privileges, or cartels furnished by big government. Often, business lobbyists and leaders are the sparkplugs for the statist, interventionist system.
bigbusiness quotesleaders quotesfirms quoteshighly quotesproductive quotesservants quotesconsumers quotesfree quotesmarket quoteseconomy quotesseekers quotessubsidies quotescontracts quotesprivileges quotescartels quotesfurnished quotesbig quotesgovernment quotesbusiness quoteslobbyists quotessparkplugs quotesstatist quotesinterventionist quotessystem quotes
If government manages to establish paper tickets or bank credit as money, as equivalent to gold grams or ounces, then the government, as dominant money-supplier, becomes free to create money costlessly and at will. As a result, this 'inflation' of the money supply destroys the value of the dollar or pound, drives up prices, cripples economic calculation, and hobbles and seriously damages the workings of the market economy.
government quotesmanages quotesestablish quotespaper quotestickets quotesbank quotescredit quotesmoney quotesequivalent quotesgold quotesgrams quotesounces quotesgovernment quotesdominant quotesmoneysupplier quotesfree quotescreate quotesmoney quotescostlessly quotesresult quotesinflation quotessupply quotesdestroys quotesdollar quotespound quotesdrives quotesprices quotescripples quoteseconomic quotescalculation quoteshobbles quotesdamages quotesworkings quotesmarket quoteseconomy quotes
It is particularly odd that economists who profess to be champions of a free-market economy, should go to such twists and turns to avoid facing the plain fact: that gold, that scarce and valuable market-produced metal, has always been, and will continue to be, by far the best money for human society.
[T]he crucial question is not, as so many believe, whether property rights should be private or governmental, but rather whether the necessarily 'private' owners are legitimate owners or criminals. For ultimately, there is no entity called 'government'; there are only people forming themselves into groups called 'governments' and acting in a 'governmental' manner. All property is therefore always 'private'; the only and critical question is whether it should reside in the hands of criminals or of the proper and legitimate owners.
crucial quotesquestion quotesproperty quotesrights quotesprivate quotesgovernmental quotesnecessarily quotesprivate quotesowners quoteslegitimate quotescriminals quotesultimately quotesentity quotescalled quotesgovernment quotespeople quotesforming quotesgroups quotesgovernments quotesacting quotesgovernmental quotesmanner quotesprivate quotescritical quotesreside quoteshands quotescriminals quotesproper quotesowners quotes
The modern welfare state, highly touted as soaking the rich to subsidize the poor, does no such thing. In fact, soaking the rich would have disastrous effects, not just for the rich but for the poor and middle classes themselves. For it is the rich who provide a proportionately greater amount of saving, investment capital, entrepreneurial foresight, and financing of technological innovation that has brought the Unites States to by far the highest standard of living - for the mass of the people - of any country in history.
modern quoteswelfare quotesstate quoteshighly quotestouted quotessoaking quotesrich quotessubsidize quotespoor quotesthing quotesfact quotesdisastrous quoteseffects quotespoor quotesmiddle quotesclasses quotesprovide quotesproportionately quotesgreater quotesamount quotessaving quotesinvestment quotescapital quotesentrepreneurial quotesforesight quotesfinancing quotestechnological quotesinnovation quotesbrought quotesunites quotesstates quoteshighest quotesstandard quotesliving quotesmass quotespeople quotescountry quoteshistory quotes
The libertarian creed...offers the fulfillment of the best of the American past along with the promise of a far better future. Libertarians are squarely in the great classical liberal tradition that built the United States and bestowed on us the American heritage of individual liberty, a peaceful foreign policy, minimal government, and a free-market economy.
libertarian quotescreedoffers quotesfulfillment quotesamerican quotespast quotespromise quotesfuture quoteslibertarians quotessquarely quotesgreat quotesclassical quotesliberal quotestradition quotesbuilt quotesunited quotesstates quotesbestowed quotesheritage quotesindividual quotesliberty quotespeaceful quotesforeign quotespolicy quotesminimal quotesgovernment quotesfreemarket quoteseconomy quotes
The public sector can only feed off the private sector; it necessarily lives parasitically upon the private economy. But this means that the productive resources of society - far from satisfying the wants of consumers - are now directed, by compulsion, away from these wants and needs. The consumers are deliberately thwarted, and the resources of the economy diverted from them to those activities desire by the parasitic bureaucracy and politicians.
public quotessector quotesfeed quotesprivate quotessector quotesnecessarily quoteslives quotesparasitically quoteseconomy quotesmeans quotesproductive quotesresources quotessociety quotessatisfying quotesconsumers quotesdirected quotescompulsion quotesdeliberately quotesthwarted quoteseconomy quotesdiverted quotesactivities quotesdesire quotesparasitic quotesbureaucracy quotespoliticians quotes
I see no other conceivable strategy for the achievement of liberty than political action. Religious or philosophical conversion of each man and woman is simply not going to work; that strategy ignores the problem of power, the fact that millions of people have a vested interest in statism and are not likely to give it up.... Education in liberty is of course vital, but it is not enough; action must also be taken to roll back the State...
conceivable quotesstrategy quotesachievement quotesliberty quotespolitical quotesaction quotesreligious quotesphilosophical quotesconversion quotesman quoteswoman quotessimply quoteswork quotesignores quotesproblem quotespower quotesfact quotesmillions quotespeople quotesvested quotesinterest quotesstatism quotesgive quoteseducation quotesvital quotesaction quotesroll quotesback quotesstate quotes
Throughout history governments have been chronically short of revenue. The reason should be clear: unlike you and me, governments do not produce useful goods and services that they can sell on the market; governments, rather than producing and selling services, live parasitically off the market and off society.
history quotesgovernments quoteschronically quotesshort quotesrevenue quotesreason quotesclear quotesunlike quotesproduce quotesgoods quotesservices quotessell quotesmarket quotesgovernments quotesproducing quotesselling quotesservices quoteslive quotesparasitically quotesmarket quotessociety quotes
Pollution and overuse of resources stem directly from the failure of government to defend private property. If property rights were to be defended adequately, we would find that here, as in other areas of our economy and society, private enterprise and modern technology would come not as a curse to mankind but as its salvation.
pollution quotesoveruse quotesresources quotesstem quotesdirectly quotesfailure quotesgovernment quotesdefend quotesprivate quotesproperty quotesproperty quotesrights quotesdefended quotesadequately quotesfind quotesareas quoteseconomy quotessociety quotesenterprise quotesmodern quotestechnology quotescurse quotesmankind quotessalvation quotes
Restoring prayer ... will scarcely at this date solve the grievous public school problem. Public schools are expensive and massive centers for cultural and ideological brainwashing, at which they are unfortunately far more effective than in teaching the 3 R's or in keeping simple order within the schools. Any plan to begin dismantling the public school monstrosity is met with effective opposition by the teachers' and educators' unions. Truly radical change is needed to shift education from public to unregulated private schooling, religious and secular, as well as home schooling by parents.
restoring quotesprayer quotesscarcely quotesdate quotessolve quotesgrievous quotespublic quotesschool quotesproblem quotespublic quotesschools quotesexpensive quotesmassive quotescenters quotescultural quotesideological quotesbrainwashing quoteseffective quotesteaching quotes3 quotesrs quoteskeeping quotessimple quotesorder quotesschools quotesplan quotesbegin quotesdismantling quotesmonstrosity quotesmet quotesopposition quotesteachers quoteseducators quotesunions quotesradical quoteschange quotesneeded quotesshift quoteseducation quotesunregulated quotesprivate quotesschooling quotesreligious quotessecular quoteshome quotesschooling quotesparents quotes
Children are prepared for democracy by being led to discuss current events without first learning the systematic subjects (politics, economics, history) which are necessary in order to discuss them. The Mole effect is to substitute slogans and superficial opinion for considered individual thought. And the opinion is that of the lowest common denominator of the group.
children quotesprepared quotesdemocracy quotesled quotesdiscuss quotescurrent quotesevents quoteslearning quotessystematic quotessubjects quotespolitics quoteseconomics quoteshistory quotesorder quotesmole quoteseffect quotessubstitute quotesslogans quotessuperficial quotesopinion quotesconsidered quotesindividual quotesthought quoteslowest quotescommon quotesdenominator quotesgroup quotes
The drum-fire of propaganda that the Fed is manning the ramparts against the menace of inflation brought about by others is nothing less than a deceptive shell game. The culprit solely responsible for inflation, the Federal Reserve, is continually engaged in raising a hue-and-cry about 'inflation,' for which virtually everyone else in society seems to be responsible. What we are seeing is the old ploy by the robber who starts shouting 'Stop, thief!' and runs down the street pointing ahead at others.
drumfire quotespropaganda quotesfed quotesmanning quotesramparts quotesmenace quotesinflation quotesbrought quotesdeceptive quotesshell quotesgame quotesculprit quotessolely quotesresponsible quotesinflation quotesfederal quotesreserve quotescontinually quotesengaged quotesraising quoteshueandcry quotesinflation quotesvirtually quotessociety quotesresponsible quotesploy quotesrobber quotesstarts quotesshouting quotesstop quotesthief quotesruns quotesstreet quotespointing quotesahead quotes
I see the liberty of the individual not only as a great moral good in itself (or, with Lord Acton, as the highest political good), but also as the necessary condition for the flowering of all the other goods that mankind cherishes: moral virtue, civilization, the arts and sciences, economic prosperity.
[W]hich category of crimes does the State pursue and punish most intensely? [T]hose against private citizens or those against itself? The gravest crimes in the State's lexicon are almost invariably not invasions of private person or property, but dangers to its own contentment, for example, treason, desertion of a soldier to the enemy, failure to register for the draft, subversion and subversive conspiracy, assassination of rulers and such economic crimes against the State as counterfeiting its money or evasion of its income tax.
category quotescrimes quotesstate quotespursue quotespunish quotesintensely quotesprivate quotescitizens quotesgravest quotesstates quoteslexicon quotesinvariably quotesinvasions quotesperson quotesproperty quotesdangers quotescontentment quotestreason quotesdesertion quotessoldier quotesenemy quotesfailure quotesregister quotesdraft quotessubversion quotessubversive quotesconspiracy quotesassassination quotesrulers quoteseconomic quotescounterfeiting quotesmoney quotesevasion quotesincome quotestax quotes
So: if the chronic inflation undergone by Americans, and in almost every other country, is caused by the continuing creation of new money, and if in each country its governmental "Central Bank" (in the United States, the Federal Reserve) is the sole monopoly source and creator of all money, who then is responsible for the blight of inflation? Who except the very institution that is solely empowered to create money, that is, the Fed (and the Bank of England, and the Bank of Italy, and other central banks) itself?
chronic quotesinflation quotesundergone quotesamericans quotescountry quotescaused quotescontinuing quotescreation quotesmoney quotescountry quotesgovernmental quotescentral quotesbank quotesunited quotesstates quotesfederal quotesreserve quotessole quotesmonopoly quotessource quotescreator quotesresponsible quotesblight quotesinflation quotesinstitution quotessolely quotesempowered quotescreate quotesfed quotesbank quotesengland quotesitaly quotescentral quotesbanks quotes
If a man has the right to self-ownership, to the control of his life, then in the real world he must also have the right to sustain his life by grappling with and transforming resources; he must be able to own the ground and the resources on which he stands and which he must use. In short, to sustain his human right.
We libertarians are not the spokesmen for any ethnic or economic class; we are the spokesmen for all classes, for all of the public; we strive to see all of these groups united, hand-in-hand, in opposition to the plundering and privileged minority that constitutes the rulers of the State.
We must, therefore, emphasize that 'we' are not the government; the government is not 'us.' The government does not in any accurate sense 'represent' the majority of the people. But, even if it did, even if 70 percent of the people decided to murder the remaining 30 percent, this would still be murder and would not be voluntary suicide on the part of the slaughtered minority. No organicist metaphor, no irrelevant bromide that 'we are all part of one another,' must be permitted to obscure this basic fact.
emphasize quoteswe quotesgovernment quotesgovernment quotesus quotesaccurate quotessense quotesrepresent quotesmajority quotespeople quotes70 quotespercent quotespeople quotesdecided quotesmurder quotesremaining quotes30 quotespercent quotesvoluntary quotessuicide quotespart quotesslaughtered quotesminority quotesorganicist quotesmetaphor quotesirrelevant quotesbromide quoteswe quotesanother quotespermitted quotesobscure quotesbasic quotesfact quotes
At the base of the Fed pyramid, and therefore of the bank system's creation of "money" in the sense of deposits, is the Fed's power to print legal tender money. But the Fed tries its best not to print cash but rather to "print" or create demand deposits, checking deposits, out of thin air, since its demand deposits constitute the reserves on top of which the commercial banks can pyramid a multiple creation of bank deposits, or "checkbook money."
base quotesfed quotespyramid quotesbank quotessystems quotescreation quotesmoney quotessense quotesdeposits quotesfeds quotespower quotesprint quoteslegal quotestender quotesmoney quotescash quotesprint quotescreate quotesdemand quoteschecking quotesthin quotesair quotesdeposits quotesconstitute quotesreserves quotestop quotescommercial quotesbanks quotespyramid quotesmultiple quotescheckbook quotesmoney quotes
The essence and the glory of the free market is that individual firms and businesses, competing on the market, provide an ever-changing orchestration of efficient and progressive goods and services: continually improving products and markets, advancing technology, cutting costs, and meeting changing consumer demands as swiftly and as efficiently as possible.
essence quotesglory quotesfree quotesmarket quotesindividual quotesfirms quotesbusinesses quotescompeting quotesmarket quotesprovide quoteseverchanging quotesorchestration quotesefficient quotesprogressive quotesgoods quotesservices quotescontinually quotesimproving quotesproducts quotesmarkets quotesadvancing quotestechnology quotescutting quotescosts quotesmeeting quoteschanging quotesconsumer quotesdemands quotesswiftly quotesefficiently quotes
I define anarchist society as one where there is no legal possibility for coercive aggression against the person or property of any individual. Anarchists oppose the State because it has its very being in such aggression, namely, the expropriation of private property through taxation, the coercive exclusion of other providers of defense service from its territory, and all of the other depredations and coercions that are built upon these twin foci of invasions of individual rights.
define quotesanarchist quotessociety quoteslegal quotespossibility quotescoercive quotesaggression quotesperson quotesproperty quotesindividual quotesanarchists quotesoppose quotesstate quotesaggression quotesexpropriation quotesprivate quotestaxation quotesexclusion quotesproviders quotesdefense quotesservice quotesterritory quotesdepredations quotescoercions quotesbuilt quotestwin quotesfoci quotesinvasions quotesindividual quotesrights quotes
Having examined the nature of fractional reserve and of central banking, and having seen how the questionable blessings of Central Banking were fastened upon America, it is time to see precisely how the Fed, as presently constituted, carries out its systemic inflation and its control of the American monetary system.
examined quotesnature quotesfractional quotesreserve quotescentral quotesbanking quotesquestionable quotesblessings quotescentral quotesbanking quotesfastened quotesamerica quotestime quotesprecisely quotesfed quotespresently quotesconstituted quotescarries quotessystemic quotesinflation quotescontrol quotesamerican quotesmonetary quotessystem quotes
In short, the early receivers of the new money in this market chain of events gain at the expense of those who receive the money toward the end of the chain, and still worse losers are the people (e.g., those on fixed incomes such as annuities, interest, or pensions) who never receive the new money.
Now judicial review, beloved by conservatives, can, of course, fulfill the excellent function of declaring government interventions and tyrannies unconstitutional. But it can also validate and legitimize the government in the eyes of the people by declaring these actions valid and constitutional.
judicial quotesreview quotesbeloved quotesconservatives quotesfulfill quotesexcellent quotesfunction quotesdeclaring quotesgovernment quotesinterventions quotestyrannies quotesunconstitutional quotesvalidate quoteslegitimize quoteseyes quotespeople quotesactions quotesvalid quotesconstitutional quotes
To deprecate human reason by saying that none of us is or can be omniscient is absurd, for it takes an impossible standard as the judge of a possible and real condition. All of our knowledge we get from the exercise of our reason; to say that no man can be God and know everything is to take an irrational standard of evaluation.
Private philanthropy is the direct expression of the great Christian principle of the brotherhood of man and the Golden Rule. Private philanthropy indeed is the only valid expression of these ethical principles; compulsory charity through 'social legislation' is the exact contrary: it is the evil imposition of force by one group on another.
private quotesphilanthropy quotesdirect quotesexpression quotesgreat quoteschristian quotesprinciple quotesbrotherhood quotesman quotesgolden quotesrule quotesvalid quotesethical quotesprinciples quotescompulsory quotescharity quotessocial quoteslegislation quotesexact quotescontrary quotesevil quotesimposition quotesforce quotesgroup quotes
In order to institute action, it is not sufficient that the individual man have unachieved ends that he would like to fulfill. He must also expect that certain modes of behavior will enable him to attain his ends. A man may have a desire for sunshine, but if he realizes that he can do nothing to achieve it, he does not act on this desire.
War has generally had grave and fateful consequences for the American monetary and financial system. We have seen that the Revolutionary War occasioned a mass of depreciated fiat paper, worthless Continentals, a huge public debt, and the beginnings of central banking in the Bank of North America.
war quotesgenerally quotesgrave quotesfateful quotesconsequences quotesamerican quotesmonetary quotesfinancial quotessystem quotesrevolutionary quotesoccasioned quotesmass quotesdepreciated quotesfiat quotespaper quotesworthless quotescontinentals quoteshuge quotespublic quotesdebt quotesbeginnings quotescentral quotesbanking quotesbank quotesnorth quotesamerica quotes
While the seeming independence of the federal judiciary has played a vital part in making its actions virtual Holy Writ for the bulk of the people, it is also and ever true that the judiciary is part and parcel of the government apparatus and appointed by the executive and legislative branches.
The Panic of 1819 exerted a profound effect on American economic thought. As the first great financial depression, similar to a modern expansion-depression pattern, the panic heightened interest in economic problems, and particularly those problems related to the causes and cures of depressed conditions.
panic quotes1819 quotesexerted quotesprofound quoteseffect quotesamerican quoteseconomic quotesthought quotesgreat quotesfinancial quotesdepression quotessimilar quotesmodern quotesexpansiondepression quotespattern quotespanic quotesheightened quotesinterest quotesproblems quotesproblems quotesrelated quotescures quotesdepressed quotesconditions quotes
Lacking the direct test of success or failure, the voter tends to turn, not to those politicians whose measures have the best chance of success, but to those with the ability to 'sell' their propaganda. Without grasping logical chains of deduction, the average voter will never be able to discover the error that the ruler makes.
lacking quotesdirect quotestest quotessuccess quotesfailure quotesvoter quotesturn quotespoliticians quotesmeasures quoteschance quotessuccess quotesability quotessell quotespropaganda quotesgrasping quoteslogical quoteschains quotesdeduction quotesaverage quotesdiscover quoteserror quotesruler quotesmakes quotes