Tag Archives

Archive of posts published in the tag: Henry Hazlitt

Economic Reality is Sneaky

Kevin Williamson is one of the best economics writers around, especially for a non economist. His style follows in the tradition of Henry Hazlitt and his classic Economics In One Lesson, bringing economic theory into common experiences. This is from the…

Read More

Jobs are a Means, Not an End

from Kevin Williamson in National Review, The Social Machine: The purpose of an automobile factory is not to “create jobs,” as the politicians like to say. Its function is not to add to the employment rolls with good wages and UAW…

Read More

Risks Too Great for Private Industry

“The case becomes even clearer if we turn from farming to other forms of business. 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…

Read More

The Net Result of Government Credit

“Perhaps in an individual case it may work out all right. But it is obvious that in general the people selected by these government standards will be poorer risks than the people selected by private standards. More money will be…

Read More

A Different Kind of Bridge

A certain amount of public spending is necessary to perform essential government functions. A certain amount of public works—of streets and roads and bridges and tunnels, of armories and navy yards, of buildings to house legislatures, police and fire departments—is…

Read More

Two Sides of the Same Coin

“Those who think that the destruction of war increases total “demand” forget that demand and supply are merely two sides of the same coin. They are the same thing looked at from different directions. Supply creates demand because at bottom…

Read More

Selling Half Truths

“It is often sadly remarked that the bad economists present their errors to the public better than the good economists present their truths. It is often complained that demagogues can be more plausible in putting forward economic nonsense from the…

Read More

Elementary Truth Ignored

“ECONOMICS IS HAUNTED by more fallacies than any other study known to man. This is no accident. The inherent difficulties of the subject would be great enough in any case, but they are multiplied a thousandfold by a factor that…

Read More

Faith in Government Spending

“THERE IS NO more persistent and influential faith in the world today than the faith in government spending. Everywhere government spending is presented as a panacea for all our economic ills. Is private industry partially stagnant? We can fix it…

Read More

Capital Ideas

A sampling from  Explaining Conservative Economics in 25 Quotes by John Hawkins in Townhall 8/7/2012: “A claim for equality of material position can be met only by a government with totalitarian powers.” — F.A. Hayek “Either immediately or ultimately every…

Read More

The Job Creation Myth

I am constantly amazed at how sitting political leaders and naive citizens think that the government can create jobs. If the government could create jobs why would we ever tolerate any unemployment?  Either the leaders are economically ignorant or liars.…

Read More

Hazlitt Responds to Keynes

“If one truth concerning economic crisis has been established… it is that they are typically brought on by cheap money- i.e., low interest rate policies that encourage excessive borrowing, excessive credit expansion, imprudent speculation, and all the distortions and instabilities…

Read More