The Vital Consideration Of Incentives Is Almost

The Whole Gospel Of Karl Marx Can Be Summed Up In A Single Sentence: Hate The Man Who Is Better Off Than You Are. Never Under Any Circumstances Admit That His Success May Be Due To His Own Efforts, To The Productive Contribution He Has Made To The Whole Community. Always Attribute His Success To The Exploitation, The Cheating, The More Or Less Open Robbery Of Others. Never Under Any Circumstances Admit That Your Own Failure May Be Owing To Your Own Weakness, Or That The Failure Of Anyone Else May Be Due To His Own Defects - His Laziness, Incompetence, Improvidence, Or Stupidity.

All Loans, In The Eyes Of Honest Borrowers, Must Eventually Be Repaid. All Credit Is Debt. Proposals For An Increased Volume Of Credit, Therefore, Are Merely Another Name For Proposals For An Increased Burden Of Debt. They Would Seem Considerably Less Inviting If They Were Habitually Referred To By The Second Name Instead Of By The First.

The Government Has Nothing To Give To Anybody That It Doesn't First Take From Someone Else.

The Mounting Burden Of Taxation Not Only Undermines Individual Incentives To Increased Work And Earnings, But In A Score Of Ways Discourages Capital Accumulation And Distorts, Unbalances, And Shrinks Production.

The Monetary Managers Are Fond Of Telling Us That They Have Substituted 'responsible Money Management' For The Gold Standard. But There Is No Historic Record Of Responsible Paper Money Management ... The Record Taken, As A Whole Is One Of Hyperinflation, Devaluation And Monetary Chaos.