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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.

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
Rich
Prejudices
Age
Prejudice
Poor
Helps
Helping
Contrary
Poverty
Cause
Wealth
Causes
Alleviate

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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.'
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The mounting burden of taxation not only undermines individual incentives to increased work and earnings, but in a score of ways discourages capital accumulation and distorts, unbalances, and shrinks production.
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Relief, or redistribution of income, voluntary or coerced, is never the true solution of poverty, but at best a makeshift, which may mask the disease and mitigate the pain, but provides no basic cure.
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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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There is no more certain way to deter employment than to harass and penalize employers.
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Economics is haunted by more fallacies than any other study known to man
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A man who is good from docility, and not from stern self-control, has no character.
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The envious are more likely to be mollified by seeing others deprived of some advantage than by gaining it for themselves. It is not what they lack that chiefly troubles them, but what others have.
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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.
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..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.
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The larger the percentage of the national income taken by taxes the greater the deterrent to private production and employment. When the total tax burden grows beyond a bearable size, the problem of devising taxes that will not discourage and disrupt production becomes insoluble.
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A certain amount of taxes is of course indispensable to carry on essential government functions. Reasonable taxes for this purpose need not hurt production much.
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Today is already the tomorrow which the bad economist yesterday urged us to ignore.
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In a free enterprise system, with an honest and stable money, there is dominantly a close link between effort and productivity, on the one hand, and economic reward on the other. Inflation severs this link. Reward comes to depend less and less on effort and production, and more and more on successful gambling and luck.
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Liberty is the essential basis, the sine qua non, of morality.
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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.
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The capitalist system has lifted mankind out of mass poverty. 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.
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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.
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Prolonged inflation never 'stimulates' the economy. On the contrary, it unbalances, disrupts, and misdirects production and employment.
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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.
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