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. β¨ Henry Hazlitt (2010). Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics, p.6, Crown Business
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- Mere inflation-that is, the mere issuance of more money, with the consequence of higher wages and prices-may look like the creation of more demand. But in terms of the actual production and exchange β¦ βΆ
- When Alexander the Great visited the philosopher Diogenes and asked whether he could do anything for him, Diogenes is said to have replied: βYes, stand a little less between me and the sun.β It is wh β¦ βΆ
- To try to cure unemployment by inflation rather than by adjustment of specific wage-rates is like trying to adjust the piano to the stool rather than the stool to the piano. β¨ Henry Hazlitt (2016). T β¦ βΆ
- In practice [monetary management] is merely a high-sounding euphemism for continuous currency debasement. It consists of constant lying in order to support constant swindling. Instead of automatic cu β¦ βΆ
- The superior freedom of the capitalist system, its superior justice, and its superior productivity are not three superiorities, but one. The justice follows from the freedom and the productivity foll β¦ βΆ
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