The First Thing A Genius Needs Is

Government Policies Try To Prevent The Emergence Of Serious Unemployment By Credit Expansion, I.e., Inflation. The Outcome Was Rising Prices, Renewed Demands For Higher Wages And Reiterated Credit Expansion; In Short, Protracted Inflation.

Credit Expansion Is The Governments' Foremost Tool In Their Struggle Against The Market Economy. In Their Hands It Is The Magic Wand Designed To Conjure Away The Scarcity Of Capital Goods, To Lower The Rate Of Interest Or To Abolish It Altogether, To Finance Lavish Government Spending, To Expropriate The Capitalists, To Contrive Everlasting Booms, And To Make Everybody Prosperous.

Production Is Not Something Physical, Material, And External; It Is A Spiritual And Intellectual Phenomenon.

My Theories Explain, But Cannot Slow The Decline Of A Great Civilization. I Set Out To Be A Reformer, But Only Became The Historian Of Decline.

The Government And Its Chiefs Do Not Have The Powers Of The Mythical Santa Claus. They Cannot Spend Except By Taking Out Of The Pockets Of Some People For The Benefit Of Others.