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Good Economics Is Good Morality
place, and conqition are changed by the
expenditure of (2) Human energy (both
muscular and mental), with the aid of (3)
Tools.
M.Qrat:
It is not right to infer that there is
any substitute for conscientiously applied human
energy as a key factor ofproduction.
Principle No. 9 -- Of these three factors, only
through tools can man increase without limit,
and tools come into being in a free society only
when there is a reward for the temporary self–
denial that people must practice in order to
channel part of their earnings away from
purchases that produce immediate comfort and
· pleasure, and into new tools of production.
Proper payment for the use of tools is essential
to their creation.
MQral:
Since tool energy offers
man his only release from hard labor, it is not
right to discourage or impede increases in the
quantity and quality of the tools available to
man.
Principle No. 10 --The productivity of the tools -–
that is, the efficiency of the human energy
applied in connection with their use -- has always
been highest in a competitive society in which
the economic decisions are made by millions of
progress-seeking individuals, rather than in a .
state-planned society in which those decisions
are made by a handful of all-powerful people,
regardless of how well-meaning, unselfish,
sincere, and intelligent those people may be.
M.Qral:
Since competition and freedom of
personal action are essential to maximum
production it is not right to impede the free
interplay of these natural forces.
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