Henry Hazlitt had left the New York Times in an ideological disagreement over post-war economic policy. Once he left, he was free to speak his mind on the important issues of the day, among which the Marshall Plan.
This is his blockbuster argument against the idea of putting post-war Europe on the US dole. He made the case that aid would forestall rather than generate economic recovery. This is the first time this historic and still-powerful book has been available since its publication in 1947.
Henry Hazlitt (1894–1993) was a well-known journalist who wrote on economic affairs for the New York Times, the Wall Street Journal, and Newsweek, among many other publications. He is perhaps best known as the author of the classic, Economics in One Lesson (1946).
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. No matter whether it is their intention or not, almost anything that the rich can legally do tends to help the poor.
The whole system of priorities, allocations, quotas, and licenses causes endless delays, keeps efficient concerns from expanding, and keeps inefficient concerns in business.
Antipoverty "strategies" like mandatory overtime pay, state-protected unionization, and opposition to labor-saving devices only serve to increase the cost of living for poor and rich alike.
NY: D. Appleton-Century Company, 1947.
