The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.
There is but one means available to improve the material conditions of mankind: to accelerate the growth of capital accumulated as against the growth in population.
The advocates of public control cannot do without inflation. They need it in order to finance their policy of reckless spending and of lavishly subsidizing and bribing the voters.
What the advocates of these tax rates fail to realize is that the greater part of the incomes taxed away would not have been consumed but saved and invested.
The main propoganda trick of supporters of the allegedly “progressive” policy of government control is to blame capitalism for all that is unsatisfactory in present-day conditions and to extol the blessings of socialism. They have never attempted to prove their fallacious dogmas.
A new type of superstition has got hold of people’s minds, the worship of the state. People demand the exercise of the methods of coercion and compulsion, of violence and threat. Woe to anybody who does not bend his knee to the fashionable idols!
