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Source link: http://archive.mises.org/11577/magic-formula/

Magic Formula

February 1, 2010 by

By Prof. Hartley L. Lutz

[From American Affairs, Vol. 7, No. 4 (1945), p. 242Download PDF]

When one puts together the bugaboo of the mature economy, the seduction of the government guarantee and the bludgeon of destructive taxation, their cumulative effect upon the spirit of enterprise is tremendous. That there should be any spark of vitality left would be amazing, were it not for the reflection that people have lived for long periods in the catacombs.

Instead of all the talking and planning that is now heard about how to save or to restore and stimulate the enterprise system after the war, a short and simple formula is offered here as being all that is necessary.

This formula, addressed to every citizen, is as follows:

If you want to make a dollar by any honest means you are free to try, and if you succeed you may keep it.

{ 4 comments }

Guard February 1, 2010 at 7:19 am

Right on! Since most honest endeavor is monopolized, regulated or illegal, we should strongly support black market activities.

Bruce Koerber February 1, 2010 at 8:13 am

Keeping What You Earn Is A Human Right!

Since a universal economic law exists that can be stated as an identity – human rights are property rights and property rights are human rights – it is easy to see which nations are violating human rights.

The unConstitutional coup that is desperately trying to expand itself through acts of economic terrorism is violating human rights. International laws have yet to appreciate the fact that human rights are property rights and property rights are human rights and so the criminals who are using Washington, D.C. as their headquarters feel little restraint.

Hopefully Americans have enough of a tradition of liberty to wake up, to recognize that human rights are property rights and property rights are human rights, and to learn how to use the system laid out in the Constitution to purge itself from the unConstitutional coup.

billwald February 1, 2010 at 2:38 pm

These days it is easier to keep the dishonest dollars.

The only way to create an honest system is to eliminate cash money, go to a 100% electronic system, and post EVERY transaction on the web.

Havvy February 1, 2010 at 5:40 pm

@billwad: How long would it take before somebody figures out how to inject huge amounts of bits into your 100% electronic system?

Commodities are much easier to keep track of in comparison to fiat money.

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