Henry Hazlitt Quotes - Page 2

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• 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.

  Henry Hazlitt

  Destiny, Law, Work Out

  Henry Hazlitt (1971). “Man Vs. the Welfare State”, p.136, Ludwig von Mises Institute

  14 Copy quote

• The great merit of gold is precisely that it is scarce; that its quantity is limited by nature; that it is costly to discover, to mine, and to process; and that it cannot be created by political fiat or caprice.

  Henry Hazlitt

  Political, Gold, Merit

  10 Copy quote

• Once the premise is accepted that poverty is never the fault of the poor but the fault of 'society,' or of 'the capitalist system, then there is no definable limit to be set on relief, and the politicians who want to be elected or reelected will compete with each other in proposing new 'welfare' programs to fill some hitherto 'unmet need.'

  Henry Hazlitt

  Welfare Programs, Relief, Needs

  Henry Hazlitt, Hans F. Sennholz (1993). “The Wisdom of Henry Hazlitt”, Foundation for Economic Education

  4 Copy quote

• The vital consideration of incentives is almost systematically overlooked in the proposals of agitators for more and bigger government welfare schemes. We should all be concerned about the plight of the poor and unfortunate. But the hard two-part question that any plan for relieving poverty must answer is: How can we mitigate the penalties of failure and misfortune without undermining the incentives to effort and success.

  Henry Hazlitt

  Government Welfare, Two, Effort

  Henry Hazlitt (1971). “Man Vs. the Welfare State”, p.211, Ludwig von Mises Institute

  10 Copy quote

• 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.

  Henry Hazlitt

  Army, Government, Long

  Henry Hazlitt (1971). “Man Vs. the Welfare State”, p.219, Ludwig von Mises Institute

  5 Copy quote

• ..either immediately or ultimately every dollar of government spending must be raised through a dollar of taxation. Once we look at the matter. In this way, the supposed miracles of government spending will appear in another light.

  Henry Hazlitt

  Light, Government, Miracle

  Henry Hazlitt (2010). “Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics”, p.27, Crown Business

  10 Copy quote

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

  Henry Hazlitt

  Water, Paper, Milk

  Henry Hazlitt (1965). “What You Should Know about Inflation”, p.132, Ludwig von Mises Institute

  5 Copy quote

• 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.

  Henry Hazlitt

  Ideas, Demand, Determined

  Henry Hazlitt (1971). “Man Vs. the Welfare State”, p.162, Ludwig von Mises Institute

  8 Copy quote

• We cannot distribute more wealth than is created. We cannot in the long run pay labor as a whole more than it produces.

  Henry Hazlitt

  Running, Long, Pay

  Henry Hazlitt (2010). “Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics”, p.146, Crown Business

  9 Copy quote

• 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.

  Henry Hazlitt

  Government, Political, Pay

  4 Copy quote

• A vital function of the free market is to penalize inefficiency and misjudgment and to reward efficiency and good judgment. By distorting economic calculations and creating illusory profits, inflation will destroy this function.

  Henry Hazlitt

  Creating, Rewards, Judgment

  Henry Hazlitt (1971). “Man Vs. the Welfare State”, p.133, Ludwig von Mises Institute

  17 Copy quote

• The 'private sector' of the economy is, in fact, the voluntary sector; and the 'public sector' is, in fact, the coercive sector.

  Henry Hazlitt

  Political, Liberty, Libertarian

  Henry Hazlitt (1971). “Man Vs. the Welfare State”, p.121, Ludwig von Mises Institute

  33 Copy quote

• The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.

  Henry Hazlitt

  Art, Liberty, Groups

  Henry Hazlitt (2010). “Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics”, p.13, Crown Business

  20 Copy quote

• There are millions receiving government payments who have come to consider them as an earned right, who of course find them inadequate, and who are outraged at the slightest suggestion of a critical re-examination of the subject. The political pressure for constant extension and increase of these benefits is almost irresistible.

  Henry Hazlitt

  Government, Political, Receiving

  Henry Hazlitt (1971). “Man Vs. the Welfare State”, p.202, Ludwig von Mises Institute

  16 Copy quote

• Government planning always involves compulsion.

  Henry Hazlitt

  Government, Planning, Compulsion

  12 Copy quote

• There is no more certain way to deter employment than to harass and penalize employers.

  Henry Hazlitt

  Philosophy, Political, Employment

  Henry Hazlitt (2010). “Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics”, p.222, Crown Business

  16 Copy quote

• The envious are not satisfied with equality; they secretly yearn for superiority and revenge. In the French Revolution of 1848, a woman coal-heaver is said to have remarked to a richly dressed lady: 'Yes, madam, everything's going to be equal now; I shall go in silks and you'll carry coal.'

  Henry Hazlitt

  Revenge, Coal, Revolution

  Henry Hazlitt (1996). “The Conquest of Poverty”

  23 Copy quote

• When the government makes loans or subsidies to business, what it does is to tax successful private business in order to support unsuccessful private business.

  Henry Hazlitt

  Philosophy, Successful, Government

  Henry Hazlitt (2010). “Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics”, p.45, Crown Business

  35 Copy quote

• The way to maximize production is to maximize the incentives to production. And the way to do that, as the modern world has discovered, is through the system known as capitalism - the system of private property, free markets, and free enterprise.

  Henry Hazlitt

  World, Incentives, Way

  Henry Hazlitt (1971). “Man Vs. the Welfare State”, p.95, Ludwig von Mises Institute

  7 Copy quote

• The only real cure for poverty is production.

  Henry Hazlitt

  Real, Poverty, Cures

  Henry Hazlitt (1971). “Man Vs. the Welfare State”, p.95, Ludwig von Mises Institute

  7 Copy quote

• Today is already the tomorrow which the bad economist yesterday urged us to ignore.

  Henry Hazlitt

  Yesterday, Today, Tomorrow

  Henry Hazlitt (2010). “Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics”, p.13, Crown Business

  15 Copy quote

• 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.

  Henry Hazlitt

  Government, Growth, Assumption

  14 Copy quote

• Government can't give us anything without depriving us of something else.

  Henry Hazlitt

  Government, Giving, Political

  14 Copy quote

• Economics is haunted by more fallacies than any other study known to man

  Henry Hazlitt

  Men, Study, Economics

  Henry Hazlitt (2010). “Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics”, p.11, Crown Business

  38 Copy quote

• When your money is taken by a thief, you get nothing in return. When your money is taken through taxes to support needless bureaucrats, precisely the same situation exists. We are lucky, indeed, if the needless bureaucrats are mere easy-going loafers. They are more likely today to be energetic reformers busily discouraging and disrupting production.

  Henry Hazlitt

  Taken, Support, Thieves

  Henry Hazlitt (2010). “Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics”, p.69, Crown Business

  8 Copy quote

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