99+ Henry Hazlitt Quotes on Language, Economics in One Lesson: The Shortest & Surest Way to Understand Basic Economics and Inefficiency - Quotes.pub

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It is often complained that demagogues can be more plausible in putting forward economic nonsense from the platform than the honest men who try to show what is wrong with it.

Libertarians are learning to their sorrow that big businessmen cannot necessarily be relied upon to be their allies in the battle against extension of governmental encroachments.

Government-to-government aid rests on socialistic assumptions and promotes socialism and stagnation, whereas private foreign investment rest on capitalist assumptions and promotes private enterprise and maximum economic growth.

The tendency of welfare spending in the United States has been to increase at an exponential rate.

Contrary to age-old prejudices, the wealth of the rich is not the cause of the poverty of the poor, but helps to alleviate that poverty.

The more ‘adequate’ we make relief, the more people we are going to find willing to get on it and stay on it indefinitely. The more we try to make sure that everybody really in need of relief gets it, the more certain we can be that we are also giving it to people who neither need nor deserve it.

For every alleged benefit that the politicians confer upon us, they must necessarily deprive us of something else.

When any welfare scheme is being proposed, its political sponsors always dwell on what a generous and compassionate government should pay to Paul; they neglect to mention that this additional money must be seized from Peter.

One of the worst features of all the plans for sharing wealth and equalizing or guaranteeing incomes is that they lose sight of the conditions and institution s that are necessary to create wealth and income in the first place.

So the government launches on a gigantic housing program – at the taxpayers’ expense.

Full employment – very full employment; long, weary, back-breaking employment – is characteristic of precisely the nations that are most retarded industrially.

Socialists will often talk as if some form of superbly equalized destitution were preferable to “maldistributed” plenty. A national income that is rapidly growing in absolute terms for practically everyone will be deplored because it is making the rich richer.

Capitalism will continue to eliminate mass poverty in more and more places and to an increasingly marked extent if it is merely permitted to do so.

The more things a government undertakes to do, the fewer things it can do completely. When the government tries to do everything it must do everything badly.

Modern capitalism benefited the masses in a double way – both by greatly increasing the wages of the masses of workers and greatly reducing the real prices they had to pay for what was produced.

The army of relief and other subsidy recipients will continue to grow, and the solvency of the government will become increasingly un tenable, as long as part of the population can vote to force the other part to support it.

Would-be income guarantors ignore or despise the capitalistic system that makes their dreams dreamable and gives their redistribute-the-income proposals whatever plausibility they have.

The long-run historical tendency of capitalism has not only been to increase real incomes more or less proportionately nearly all along the line, but to benefit the masses even more than the rich.

The crying need today is not for more laws, but for fewer. The world must be saved from its saviors. If the friends of liberty and law could have only one slogan it should be: Stop the remedies!

The first requisite of a sound monetary system is that it put the least possible power over the quantity or quality of money in the hands of the politicians.

There is a profound contrast between the effects of foreign aid and of voluntary private investment: foreign aid goes from government to government. It is therefore almost inevitably statist and socialistic.

A little philosophy inclineth men’s minds to atheism, but depth in philosophy bringeth men’s minds about to religion.

A hundred welfare programs, spending more and more billions, lead to chronic budget deficits, which lead to increased paper-money issues, which lead to higher prices.

The system of capitalism, of the market economy, is a system of freedom, of justice, of productivity. But these three virtues cannot be separated. Each flows out of the other.

No one could think that the destruction of war was an economic advantage who began by thinking first of all of the people whose property was destroyed. Those.

New taxes are so unpopular that most ‘social’ handout schemes are originally enacted without enough increased taxation to pay for them. The result is chronic government deficits, paid for by the issuance of additional paper money.

Bureaucrats denounce private enterprise for the consequences of their own reckless policies and demand still more governmental controls.

There can be little doubt that many egalitarians are motivated at least partly by envy.

The sad fact is that today most of the heads of big businesses in America have become so confused or intimidated that, so far from carrying the free market to argument to the enemy, they fail to defend themselves adequately even when attacked.

The way to get a maximum rate of ‘economic growth’ assuming this to be our aim – is to give maximum encouragement to production, employment, saving, and investment. And the way to do this is to maintain a free market and a sound currency.

More and more people are becoming aware that government has nothing to give them without first taking it away from somebody else-or from themselves. Increased handouts to selected groups mean merely increased taxes, or increased deficits and increased inflation.

In order that one industry might grow or come into existence, a hundred other industries would have to shrink.

When each of us is free to work out his own economic destiny, within the framework of the market economy, the institution of private property, and the general rule of law, we will all improve our economic condition much faster than when we are ordered around by bureaucrats.

The proposal is frequently made that the government ought to assume the risks that are “too great for private industry.” This means that bureaucrats should be permitted to take risks with the tax payer’s money that no one is willing to take with his own.

Government welfarism, with its ever-increasing army of pensioners and other beneficiaries, is fatally easy to launch and fatally easy to extend, but almost impossible to bring to a halt – and quite impossible politically to reverse, no matter how obvious and catastrophic its consequences become.

The only way government bureaucrats know of keeping prosperity going is to inflate some more – to increase the deficit or to pump more money into the system.

Multiculturalism means your kid has to learn some wretched tribal dirge for the school holiday concert instead of getting to sing ‘Rudolph the Red-Nosed Reindeer.’

Economic progress and justice do not consist in superbly equalized destitution, but in the constant creation of more and more goods and services, of more and more wealth and income to be shared.

It is possible to increase paper-money income to any amount by debasing the currency. But real income can only be increased by working harder or more efficiently, saving more, investing more, and producing more.

The surest way for a poor nation to stay poor is to harass, hobble, and straitjacket private enterprise or to discourage or destroy it by subsidized government competition, oppressive taxation, or outright expropriation.

A Day never passes without some ardent reformer or group of reformers suggesting some new government intervention, some new statist scheme to fill some alleged ‘need’ or relieve some alleged distress.

The solution to our problems is not more paternalism, laws, decrees, and controls, but the restoration of liberty and free enterprise, the restoration of incentives, to let loose the tremendous constructive energies of 300 million Americans.

The essential function of the State is to maintain peace, justice, law, and order, and to protect the individual citizen against aggression, violence, theft, and fraud.

Once the idea is accepted that money is something whose supply is determined simply by the printing press, it becomes impossible for the politicians in power to resist the constant demands for further inflation.

Diluting the money supply with paper is the moral equivalent of diluting the milk supply with water.

Arbitrary government power is being multiplied daily by the now practically unchallenged assumption that wherever there is any problem of any kind to be solved, government is the agency to step in and solve it.

If a government resorts to inflation, that is, creates money in order to cover its budget deficits or expands credit in order to stimulate business, then no power on earth, no gimmick, device, trick or even indexation can prevent its economic consequences.

From a strictly economic point of view, buying gold in a major inflation and holding it probably presents the least risk of capital loss of any investment or speculation.

Liberty is the essential basis, the sine qua non, of morality.

Short-sighted and impatient efforts to wipe out poverty by severing the connection between effort and reward can only lead to the growth of a totalitarian state, and destroy the economic progress that this country has so dearly bought.

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