They make it possible for private industry to function in an atmosphere of law, order, freedom and peace. In this way, the supposed miracles of government spending will appear in another light.”, “There are men regarded today as brilliant economists, who deprecate saving and recommend squandering on a national scale as the way of economic salvation; and when anyone points to what the consequences of these policies will be in the long run, they reply flippantly, as might the prodigal son of a warning father: "In the long run we are all dead." In brief, for a low wage you substitute unemployment. Once we look at the matter. Never under any circumstances admit that your own failure may be owing to your own weakness, or that the failure of anyone else may be due to his own defects - his laziness, incompetence, improvidence, or stupidity.”, “Practically all government attempts to redistribute wealth and income tend to smother productive incentives and lead toward general impoverishment. With reference to Keynes's book, Hazlitt paraphrased a quote attributed to Samuel Johnson, that he was "unable to find in it a single doctrine that is both true and original. When the total tax burden grows beyond a bearable size, the problem of devising taxes that will not discourage and disrupt production becomes insoluble.”, “all loans, in the eyes of honest borrowers, must eventually he repaid. Only one-half of the problem has been seen. He has it, perhaps, because he already has marketable assets of a greater cash value than the loan for which he is asking. The record taken as a whole is one of hyperinflation, devaluation and monetary chaos. 20 Copy quote. The inherent difficulties of the subject would be great enough in any case, but they are multiplied a thousandfold by a factor that is insignificant in, say, physics, mathematics or medicine - the special pleading of selfish interests.”, “This is perhaps as good a place as any to point out that what distinguishes many reformers from those who cannot accept their proposals is not their greater philanthropy, but their greater impatience. It is perhaps the worst possible form, which usually bears hardest on those least able to pay.” Henry Hazlitt, Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics 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. 10 sourced quotes. An elementary fallacy. #Government #Citizens #Littles They tell us that the government can spend and spend without taxing at all; that it can continue to pile up debt without ever paying it off, because "we owe it to ourselves.”, “ECONOMICS IS HAUNTED by more fallacies than any other study known to man. The bad economist sees only the direct consequences of a proposed course; the good economist looks also at the longer and indirect consequences. “Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics”, p.12, Crown Business, There is a mistake in the text of this quote. In the modern world knowledge has been growing so fast and so enormously, in almost every field, that the probabilities are immensely against anybody, no matter how innately clever, being able to make a contribution in any one field unless he devotes all his time to it for years. 3) So we have finished with the broken window. There are more than 178+ quotes in our Henry Hazlitt quotes collection. Or he has it because his character and past record have earned it. Utilize our cutting edge search engine to make Henry Hazlitt quotes and wisdom easily discoverable.-Page : 1 Never under any circumstances admit that his success may be due to his own efforts, to the productive contribution he has made to the whole community. And such shallow wisecracks pass as devastating epigrams and the ripest wisdom.”, “Everything we get, outside of the free gifts of nature, must in some way be paid for. Credit, on the contrary, is something a man already has. The world is full of so- called economists who in turn are full of schemes for getting something for nothing. If the bridge costs $1,000,000 the taxpayers will lose $1,000, 000. No matter whether it is their intention or not, almost anything that the rich can legally do tends to help the poor. The whole gospel of Karl Marx can be summed up in a single sentence: Hate the man who is better off than you are. #Hands “Government can't give us anything without depriving us of something else.”-- Henry Hazlitt . Henry Hazlitt Quote “The whole gospel of Karl Marx can be summed up in a single sentence: Hate the man who is better off than you are. “Man Vs. the Welfare State”, p.211, Ludwig von Mises Institute, Henry Hazlitt (2010). This is no accident. Knowledge used does not need to be remembered; practice forms habits and habits make memory unnecessary. Every day we present the best quotes! 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. Saturday Quotes–Henry Hazlitt “The future of human liberty…means the future of civilization.” Henry Hazlitt “The State, of course, is absolutely indispensable to the preservation of law and order, and the promotion of peace and social cooperation. It is this system that in the last century, in the last generation, even in the last decade, has acceleratively been changing the face of the world, and has provided the masses of mankind with amenities that even kings did not possess or imagine a few generations ago. It does not consist in the "purchasing power" they possess by virtue of being on the public payroll.”, “For every dollar that is spent on the (boondoggle) bridge a dollar will be taken away from taxpayers. The richer and more copious one's vocabulary and the greater one's awareness of fine distinctions and subtle nuances of meaning, the more fertile and precise is likely to be one's thinking. -- Henry Hazlitt . 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.'. They would seem considerably less inviting if they were habitually referred to by the second name instead of by the first.”, “There is a strange idea abroad, held by all monetary cranks, that credit is something a banker gives to a man. Just a moment while we sign you in to your Goodreads account. Proposals for an increased volume of credit, therefore, are merely another name for proposals for an increased burden of debt. The spending of the rich gives employment to the poor. The bad economist sees only what immediately strikes the eye; the good economist also looks beyond. Subscribe Henry Hazlitt — American Philosopher born on November 28, 1894, died on July 08, 1993 Henry Stuart Hazlitt was an American journalist who wrote about business and economics for such publications as The Wall Street Journal, The Nation, The American Mercury, Newsweek, and The New York Times. William Hazlitt. Henry Hazlitt View all quotes from this author: The bad economist sees only what immediately strikes the eye; the good economist also looks beyond. They get their immediate appeal by focusing attention on the alleged needs of some particular group of intended beneficiaries. The only real cure for poverty is production. “Man Vs. the Welfare State”, p.183, Ludwig von Mises Institute, Henry Hazlitt (1971). All subsidy measures, all schemes to redistribute income or to force Peter to support Paul, are one-eyed as well as shortsighted. Even where a price increase is possible, the higher price discourages buyers, shrinks the market, and also leads to unemployment. That is why the banker makes him the loan. Government provided free tuition tends more and more to produce a uniform conformist education, with college faculties ultimately dependent for their jobs on the government, and so developing an economic interest in profession and teaching a statist, pro-government, and socialist ideology. See more ideas about Economics, Henry, Economics books. The cost of the proposed solution has been overlooked. 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. Henry Hazlitt (1894–1993) was a well-known journalist who wrote on economic affairs for the New York Times, the Wall Street Journal, and Newsweek, among many other publications. But the inevitable victims - those who are going to be asked to pay for the new handout in increased taxes (which directly or indirectly means almost everybody else) - are left out of account. Knowledge of things and knowledge of the words for them grow together. The question is not whether we wish to see everybody as well off as possible. Henry Hazlitt. Trouble, Envious, Advantage. The same reasoning applies to civilian government officials whenever they are retained in excessive numbers and do not perform services for the community reasonably equivalent to the remuneration they receive. That is why the banker makes him the loan. “Basic Economics” is kind of costly , while “Economics in One Lesson” is available for free at the Foundation for Economic Education’s website. Share with your friends. Free Daily Quotes. Henry Hazlitt quotes Showing 1-30 of 218. If you do not know the words, you can hardly know the thing.”, “When Alexander the Great visited the philosopher Diogenes and asked whether he could do anything for him, Diogenes is said to have replied: ‘Yes, stand a little less between me and the sun.’ It is what every citizen is entitled to ask of his government.”, “The 'private sector' of the economy is, in fact, the voluntary sector; and the 'public sector' is, in fact, the coercive sector.”, “The only way we could remember would be by constant re-reading, for knowledge unused tends to drop out of mind. “The Wisdom of Henry Hazlitt”, Foundation for Economic Education, Henry Hazlitt (2010). #Government #Order #Credit “When Alexander the Great visited the philosopher Diogenes and asked whether he could do anything for him, Diogenes is said to have replied: ‘Yes, stand a little less between me and the sun.’ It is what every citizen is entitled to ask of his government.”-- Henry Hazlitt . "...I'll take Liberty and responsibility for myself over that miserable existence every time. He has it, perhaps, because he already has marketable assets of a greater cash value than the loan for which he is asking. 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. All credit is debt. -- Henry Hazlitt . It is what every citizen is entitled to ask of his government.”, “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.”, “A man who is good from docility, and not from stern self-control, has no character.”, “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.”, “The dilemma is this. This quote addresses a lot that has to do with character and human behavior. If the friends of liberty and law could have only one slogan it should be: Stop the remedies! 1894. “A man with a scant vocabulary will almost certainly be a weak thinker. But their justification consists in the utility of their services. The inherent difficulties of the subject would be great enough in any case, but they are multiplied a thousandfold by a factor that is insignificant in , say, physics, mathematics, or medicine -- the special pleading of selfish interests. Quote by Henry Hazlitt: “The whole gospel of Karl Marx can be summed up ...”. It is possible to increase paper-money income to any amount by debasing the currency. “Man Vs. the Welfare State”, p.70, Ludwig von Mises Institute, Henry Hazlitt, Hans F. Sennholz (1993). A fundamental influence on modern libertarianism, Hazlitt defends capitalism and the free market from economic myths that persist to this day. We cannot in the long run pay labor as a whole more than it produces.”, “..either immediately or ultimately every dollar of government spending must be raised through a dollar of taxation. Never under any circumstances admit that his success may be due to his own efforts, to the productive contribution he has made to the whole community. 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. Always attribute his success to the exploitation, the cheating, the more or less open robbery of others. Government loans, in short, as compared with private loans, will reduce production, not increase it.”, “Everything we get, outside of the free gifts of nature, must in some way be paid for.”, “The notion that we can dismiss the views of all previous thinkers surely leaves no basis for the hope that our own work will prove of any value to others.”, “In an exchange economy everybody’s money income is somebody else’s cost. If you want to know more or withdraw your consent to all or some of the cookies, please refer to the, Henry Hazlitt (1971). They will have that much taken away from them which they would otherwise have spent on the things they needed most.”, We’d love your help. Credit, on the contrary, is something a man already has. Be the first to learn about new releases! He brings it into the bank with him. 1 A strong passion for any object will ensure success, for the desire of the end will point out the means. The rule is nothing; the application is everything.”, “The whole gospel of Karl Marx can be summed up in a single sentence: Hate the man who is better off than you are. Henry Hazlitt est un philosophe, essayiste, économiste et journaliste libertarien américain. “Man Vs. the Welfare State”, p.95, Ludwig von Mises Institute, Henry Hazlitt (1996). Complete list of quotes and quotations by Henry Hazlitt. The world must be saved from its saviors. He is widely cited in both libertarian and conservative circles. Follow AzQuotes on Facebook, Twitter and Google+. Henry Hazlitt’s quote touches philosophy, and Literary criticism and is still in use in the present society. The vital consideration of incentives is almost systematically overlooked in the proposals of agitators for more and bigger government welfare schemes. If he tries to be the Rounded Universal Man, like Leonardo da Vinci, or to take all knowledge for his province, like Francis Bacon, he is most likely to become a mere dilettante and dabbler. Among men of good will such an aim can be taken for granted. The crying need today is not for more laws, but for fewer. There is a strange idea aboard, held by all monetary cranks, that credit is something a banker gives to a man. The capitalist system has lifted mankind out of mass poverty. Henry Hazlitt (1894–1993) was a well-known journalist who wrote on economic affairs for the New York Times, the Wall Street Journal, and Newsweek, among many other publications.He is perhaps best known as the author of the classic, Economics in One Lesson (1946). Welcome back. And in trying to answer this we must never lose sight of a few elementary truisms. The government has nothing to give to anybody that it doesn't first take from someone else. If a 30 percent increase in hourly wages all around the circle forces a 30 percent increase in prices, labor can buy no more of the product than it could at the beginning; and the merry-go-round must start all over again.”, “What is put into the hands of B cannot be put into the hands of A.”, “You cannot make a man worth a given amount by making it illegal for anyone to offer him anything less. We cannot distribute more wealth than is created. 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 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 con..." Rand proclaimed that “The smallest minority on earth is the individual. “Man Vs. the Welfare State”, p.216, Ludwig von Mises Institute, Henry Hazlitt (1971). The bad economists sees only what the effect of a given policy has been or will be on one particular group; the good economist inquires also what the effect of the policy will be on all groups. But it must refrain from specific economic interventions. An increase in costs of production, where the government controls prices and forbids any price increase, takes the profit from marginal producers, forces them out of business, means a shrinkage in production and a growth in unemployment. But if he becomes too specialized, he is apt to become narrow and lopsided, ignorant on every subject but his own, and perhaps dull and sterile even on that because he lacks perspective and vision and has missed the cross-fertilization of ideas that can come from knowing something of other subjects.”, “Economics is haunted by more fallacies than any other study known to man. Bio from Wikipedia, the free encyclopedia. It is the proper sphere of government to create and enforce a framework of law that prohibits force and fraud. Here he quotes Rand who, like Hazlitt and a few other great thinkers, always elevated the interests of the individual. The Blessings of Destruction (ch. -- J Carlton, Calgary ; 3 1 He is perhaps best known as the author of the classic, Economics in One Lesson (1946). This is no accident. The ideas which now pass for brilliant innovations and advances are in fact mere revivals of ancient errors, and a further proof of the dictum that those who are ignorant of the past are condemned to repeat it. The bad economist sees only what the effect of a given policy has been or will be on one particular group; the good economist inquires also what the effect of the policy will be on all groups.”, “the larger the percentage of the national income taken by taxes the greater the deterrent to private production and employment. Author Quotes. The envious are more likely to be mollified by seeing others deprived of some advantage than by gaining it for themselves. When Alexander the Great visited the philosopher Diogenes and asked whether he could do anything for him, Diogenes is said to have replied: ‘Yes, stand a little less between me and the sun.’ It is what every citizen is entitled to ask of his government. “The Conquest of Poverty”, Henry Hazlitt (1971). #Real #Looks #Wages “What is put into the hands of B cannot be put into the hands of A.”-- Henry Hazlitt . “A man who is good from docility, and not from stern self-control, has no character.” Henry Hazlitt. Categories: 1990s deaths, Journalists, American economists, Libertarians, Agnostics. Every increase in hourly wages, unless or until compensated by an equal increase in hourly productivity, is an increase in costs of production. The bad economist sees only the direct consequences of a proposed course; the good economist looks also at the longer and indirect consequences. Look up, laugh loud, talk big, keep the color in your cheek and the fire in your eye, adorn your person, maintain your health, your beauty and your animal spirits. But real income can only be increased by working harder or more efficiently, saving more, investing more, and producing more. When Alexander the Great visited the philosopher Diogenes and asked whether he could do anything for him, Diogenes is said to have replied: "Yes, stand a little less between me and the sun." List of quotes and captions including the bad economist sees only the direct consequences of a proposed ;... Not original. forms habits and habits make memory unnecessary book is not original. known! Fond of telling us that they have substituted 'responsible money management ' the... See everybody as well as shortsighted him the loan the free market p.211 Ludwig... 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