"The art of economics consists of looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups."
Inflation can always give only a temporary fillip to the economy, and will leave us with a legacy of postponed adjustments and new maladjustments which make our problem more difficult.
Whoever wishes to do so, freely and voluntarily. Conscription of witnesses is no more justified than conscription into the armed forces or into any other service or occupation.
Mises: "What I aimed at in writing Human Action was to contribute my share to ... prevent[ing] America from following Europe down the path to annihilation of civilization and prosperity."
Hazlitt sees clearly that because capitalism promotes freedom, justice and productivity it has far more right to be called "social" (or "moral") than socialism which in its despotism actually promotes a code of immorality.
