Liberty and Property.pdf - The Ludwig von Mises Institute
Liberty and Property.pdf - The Ludwig von Mises Institute
Liberty and Property.pdf - The Ludwig von Mises Institute
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<strong>Liberty</strong> <strong>and</strong> <strong>Property</strong> 45VIHowever, one does not exhaustivelydescribe the sweeping changes thatcapitalism brought about in the conditionsof the common man if one merelydeals with the supremacy he enjoys on themarket as a consumer <strong>and</strong> in the affairs ofstate as a voter <strong>and</strong> with the unprecedentedimprovement of his st<strong>and</strong>ard of living. Noless important is the fact that capitalism hasmade it possible for him to save, to accumulatecapital <strong>and</strong> to invest it. <strong>The</strong> gulf that inthe pre-capitalistic status <strong>and</strong> caste societyseparated the owners of property from thepenniless poor has been narrowed down. Inolder ages the journeyman had such a lowpay that he could hardly lay by something<strong>and</strong>, if he nevertheless did so, he could onlykeep his savings by hoarding <strong>and</strong> hiding a45