Liberty and Property.pdf - The Ludwig von Mises Institute

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Liberty and Property 47tender. The self‐styled champions of thecommon man are still guided by the obsoleteidea that a policy that favors the debtorsat the expense of the creditors is very beneficialto the majority of the people. Theirinability to comprehend the essential characteristicsof the market economy manifestsitself also in their failure to see the obviousfact that those whom they feign to aid arecreditors in their capacity as savers, policyholders, and owners of bonds.
48Liberty and PropertyVIIThe distinctive principle ofWestern social philosophy is individualism.It aims at the creation of a spherein which the individual is free to think, tochoose, and to act without being restrainedby the interference of the social apparatus ofcoercion and oppression, the State. All thespiritual and material achievements of Westerncivilization were the result of the operationof this idea of liberty.This doctrine and the policies of individualismand of capitalism, its application toeconomic matters, do not need any apologistsor propagandists. The achievementsspeak for themselves.The case for capitalism and private propertyrests, apart from other considerations,48
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Liberty and Property.pdf - The Ludwig von Mises Institute

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