The Link Between a Degenerating Currency and a Degenerating Culture. Austrian Scholars Conference 2009 Ludwig von Mises Institute Auburn, AL March 14, 2009 Paul T. Prentice, Ph.D. [email protected] Axiom : Man Acts.
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The Link Between a Degenerating Currency and a Degenerating Culture
Austrian Scholars Conference 2009
Ludwig von Mises Institute
March 14, 2009
Paul T. Prentice, Ph.D.
"The Principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale. – Thomas Jefferson
Within one generation of the creation of the Fed, the Great Depression ensued and the Welfare State became institutionalized -- the New Deal.
"When you see that trading is done, not by consent, but by compulsion - when you see that in order to produce, you need to obtain permission from men who produce nothing - when you see that money is flowing to those who deal, not in goods, but in favors - when you see that men get richer by graft and by pull than by work, and your laws don't protect you against them, but protect them against you - when you see corruption being rewarded and honesty becoming a self-sacrifice - you may know that your society is doomed." - Ayn Rand. Source: Atlas Shrugged, Francisco's "Money Speech"