In Truth, The Gold Standard Is Already

By This Means (fractional Reserve Banking) Government May Secretly And Unobserved, Confiscate The Wealth Of The People, And Not One Man In A Million Will Detect The Theft.

But Whilst There May Be Intrinsic Reasons For The Scarcity Of Land, There Are No Intrinsic Reasons For The Scarcity Of Capital.

It Is Preferable To Regard Labour, Including, Of Course, The Personal Services Of The Entrepreneur, And His Assistants, As The Sole Factor Of Production, Operating In A Given Environment Of Technique, Natural Resources, Capital Equipment And Effective Demand. This Is Why We Have Been Able To Take Labour As The Sole Physical Unit Which We Require In Our Economic System, Apart From Units Of Money And Of Time.

Once We Allow Ourselves To Be Disobedient To The Test Of An Accountant's Profit, We Have Begun To Change Our Civilization.

Lenin Is Said To Have Declared That The Best Way To Destroy The Capitalist System Was To Debauch The Currency. By A Continuing Process Of Inflation, Governments Can Confiscate, Secretly And Unobserved, An Important Part Of The Wealth Of Their Citizens. By This Method They Not Only Confiscate, But They Confiscate Arbitrarily; And, While The Process Impoverishes Many, It Actually Enriches Some. The Sight Of This Arbitrary Rearrangement Of Riches Strikes Not Only At Security, But At Confidence In The Equity Of The Existing Distribution Of Wealth.