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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.

Henry Hazlitt

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Henry Hazlitt
Age: 98 †
Born: 1894
Born: November 28
Died: 1993
Died: July 8
Economist
Journalist
Philosopher
Philadelphia
Pennsylvania
Henry Stuart Hazlitt
Paper
Increased
Amount
Producing
Possible
Currency
Working
Investing
Money
Saving
Real
Income
Increase
Debasing
Harder
Efficiently

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Bureaucrats denounce private enterprise for the consequences of their own reckless policies and demand still more governmental controls.
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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.
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If precious metals had been abundant, they would not have been precious.
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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.
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There is no more certain way to deter employment than to harass and penalize employers.
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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.
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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.
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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.
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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.
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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.
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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
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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.
Henry Hazlitt
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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.
Henry Hazlitt
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The only real cure for poverty is production.
Henry Hazlitt
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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.
Henry Hazlitt
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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.
Henry Hazlitt
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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.
Henry Hazlitt
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Give me the clear blue sky above my head, and the green turf beneath my feet, a winding road before me, and a three hours' march to dinner - and then to thinking!
Henry Hazlitt
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Liberty is the essential basis, the sine qua non, of morality.
Henry Hazlitt
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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.
Henry Hazlitt