The Monetary Managers Are Fond Of Telling

The Way To Maximize Production Is To Maximize The Incentives To Production. And The Way To Do That, As The Modern World Has Discovered, Is Through The System Known As Capitalism - The System Of Private Property, Free Markets, And Free Enterprise.

In A Free Enterprise System, With An Honest And Stable Money, There Is Dominantly A Close Link Between Effort And Productivity, On The One Hand, And Economic Reward On The Other. Inflation Severs This Link. Reward Comes To Depend Less And Less On Effort And Production, And More And More On Successful Gambling And Luck.

There Is A Profound Contrast Between The Effects Of Foreign Aid And Of Voluntary Private Investment: Foreign Aid Goes From Government To Government. It Is Therefore Almost Inevitably Statist And Socialistic.

Relief, Or Redistribution Of Income, Voluntary Or Coerced, Is Never The True Solution Of Poverty, But At Best A Makeshift, Which May Mask The Disease And Mitigate The Pain, But Provides No Basic Cure.

Need Is Not Demand. Effective Economic Demand Requires Not Merely Need But Corresponding Purchasing Power.