Inflation Is A Form Of Tax, A

There Can Be Little Doubt That Many Egalitarians Are Motivated At Least Partly By Envy.

The Ideas Which Now Pass For Brilliant Innovations And Advances Are In Fact Mere Revivals Of Ancient Errors, And A Further Proof Of The Dictum That Those Who Are Ignorant Of The Past Are Condemned To Repeat It.

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

The Art Of Economics Consists In Looking Not Merely At The Immediate But At The Longer Effects Of Any Act Or Policy; It Consists In Tracing The Consequences Of That Policy Not Merely For One Group But For All Groups.

There Is A Strange Idea Aboard, Held By All Monetary Cranks, That Credit Is Something A Banker Gives To A Man. Credit, On The Contrary, Is Something A Man Already Has. He Has It, Perhaps, Because He Already Has Marketable Assets Of A Greater Cash Value Than The Loan For Which He Is Asking. Or He Has It Because His Character And Past Record Have Earned It. He Brings It Into The Bank With Him. That Is Why The Banker Makes Him The Loan.