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 is insignificant in, say, physics, mathematics or medicine - the special pleading of selfish interests. β¨ Henry Hazlitt (2010). Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics, p.11, Crown Business
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- The question is not whether we wish to see everybody as well off as possible. Among men of good will such an aim can be taken for granted. The real question concerns the proper means of achieving it. 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
- Today is already the tomorrow which the bad economist yesterday urged us to ignore. β¨ Henry Hazlitt (2010). Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics, p.13, C β¦ βΆ
- The great merit of gold is precisely that it is scarce; that its quantity is limited by nature; that it is costly to discover, to mine, and to process; and that it cannot be created by political fiat β¦ βΆ
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