In Order That One Industry

Government Relief Tends Constantly To Get Out Of Hand. And Even When It Is Kept Within Reasonable Bounds It Tends To Reduce The Incentives To Work And To Save Both Of Those Who Receive It And Of Those Who Are Forced To Pay It. It May Be Said, In Fact, That Practically Every Measure That Governments Take With The Ostensible Object Of 'helping The Poor' Has The Long-run Effect Of Doing The Opposite.

In A Free Enterprise System, With An Honest And Stable Money, There Is Dominantly A Close Link Between Effort And Productivity, On The One Hand, And Economic Reward On The Other. Inflation Severs This Link. Reward Comes To Depend Less And Less On Effort And Production, And More And More On Successful Gambling And Luck.

The Only Way We Could Remember Would Be By Constant Re-reading, For Knowledge Unused Tends To Drop Out Of Mind. Knowledge Used Does Not Need To Be Remembered; Practice Forms Habits And Habits Make Memory Unnecessary. The Rule Is Nothing; The Application Is Everything.

Once The Premise Is Accepted That Poverty Is Never The Fault Of The Poor But The Fault Of 'society,' Or Of 'the Capitalist System, Then There Is No Definable Limit To Be Set On Relief, And The Politicians Who Want To Be Elected Or Reelected Will Compete With Each Other In Proposing New 'welfare' Programs To Fill Some Hitherto 'unmet Need.'

The Only Way Government Bureaucrats Know Of Keeping Prosperity Going Is To Inflate Some More - To Increase The Deficit Or To Pump More Money Into The System.