If we consciously specialize in one kind of activity, we can do so only because we count upon other individuals being ready to serve us just as we are prepared to serve them. It is here that the great principle of solidarity, which govern society, comes into play.
"By anticipating the future, speculators may bring about events earlier and reduce their potential harm."
Keynesianism ignores the fact that government spending must come either from tax dollars or from the printing presses, both of which harm the common man. Instead, Keynesianism promises that we can all pick one another's pockets — and all get rich doing it!
The Royal Company was at last dead, stillborn, and old du Noyer's loss was the French public's gain.
The economist who knows no history understands far less than his opposite number in the historical profession; but his claims are far greater. Therefore, he is much wider off the mark.
The Soviet Union produced the most effective and successful propaganda machine in the history of mankind. Mikhail Suslov was that machine, and that machine was Mikhail Suslov.
If anyone is to take the blame for the current mess in which European countries find themselves, it should not be the bearers of bad news but those who steered the affected economies in the unsustainable direction.
"If this mania increases we shall slide into a social order under which everyone has one hand in the pocket of another."
As long as the money- supply rate of growth remains a positive figure, there can be no deflation.
