From A Critique of Interventionism — surrounding passage

Many a writer of no more than excerpts from economic documents believes he has written an economic treatise. But when the excerpt is completed the economic analysis is just beginning. Its content must then be analyzed and transformed to a picture full of life, and the lesson must be drawn from this researched passage of life. It is not enough to be diligent in the preparation of excerpts from documents. It takes the power of intuition, combination, sagacity, and

“The most important thing to remember is that inflation is not an act of God, that inflation is not a catastrophe of the elements or a disease that comes like the plague. Inflation is a policy.”

Since then, economics and social policy have confronted each other. The social scientists do not even know the foundation of the theoretical system, and have taken no notice of the significant development of theoretical knowledge in recent decades. Wherever they sought to deal with it critically, they could not get beyond the old errors already fully dealt with by Menger and Böhm-Bawerk. But all this has not weakened the socialistic and syndicalistic ideology.