The costs of war are enormous, and inflation is a means by which governments attempt, more or less successfully, to hide these costs from their citizens.
We live in a world habitually inhabited by antimarket intellectuals and those who have absorbed their teachings. The continued flourishing of this class of intellectuals remains an enduring puzzle and problem for classical liberals.
Henry Hazlitt, author, journalist, editor, reviewer, economist, has gained renown in at least three areas: as a popularizer of sound economic thinking, as a critic of John Maynard Keynes, and as a contributor to moral philosophy.
Property in private hands used for the production of goods and services for the market is already for all practical purposes public wealth. It is serving the public just as much as — in fact, far more effectively than — if it were owned and operated by the government.
We live in a world habitually inhabited by anti-market intellectuals and those who have absorbed their teachings. The continued flourishing of this class of intellectuals remains an enduring puzzle and problem for classical liberals.
The very miracles brought about in our age by the capitalist system have given rise to expectations that keep running ahead even of the accelerating progress, and so have led to an incredibly shortsighted impatience that threatens to destroy the very system that has made the expectations possible.
It is commonly overlooked that the decline of the family as an institution is caused in part by fiat inflation. Perennial inflation slowly but assuredly destroys the family, thus suffocating the earthly flame of morals.
