Practically All Government Attempts To Redistribute Wealth

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.

No Matter Whether It Is Their Intention Or Not, Almost Anything That The Rich Can Legally Do Tends To Help The Poor. The Spending Of The Rich Gives Employment To The Poor. But The Saving Of The Rich, And Their Investment Of These Savings In The Means Of Production, Gives Just As Much Employment, And In Addition Makes That Employment Constantly More Productive And More Highly Paid, While It Also Constantly Increases And Cheapens The Production Of Necessities And Amenities For The Masses.

It Is Often Sadly Remarked That The Bad Economists Present Their Errors To The Public Better Than The Good Economists Present Their Truths. It Is Often Complained That Demagogues Can Be More Plausible In Putting Forward Economic Nonsense From The Platform Than The Honest Men Who Try To Show What Is Wrong With It.

Prolonged Inflation Never 'stimulates' The Economy. On The Contrary, It Unbalances, Disrupts, And Misdirects Production And Employment.

If A Government Resorts To Inflation, That Is, Creates Money In Order To Cover Its Budget Deficits Or Expands Credit In Order To Stimulate Business, Then No Power On Earth, No Gimmick, Device, Trick Or Even Indexation Can Prevent Its Economic Consequences.