19. Private Property, Public Purpose
THE SOCIALISTS AND COMMUNISTS PROPOSE TO CURE POVERTY BY SEIZing private property, particularly property in the means of production, and turning it over to be operated by the government.
20. The Cure for Poverty
THE THEME OF THIS BOOK IS THE CONQUEST OF POVERTY, NOT ITS “abolition.” Poverty can be alleviated or reduced, and in the Western world in the last two centuries it has been almost miraculously alleviated and reduced; but poverty is ultimately individual, and individual poverty can no more be “abolished” than disease or death can be abolished.
Index
Africa, 28, 162
Aid to Families with Dependent Children (AFDC), 97, 98, 102–104, 201, 202
Aid, foreign, 159–177; cost of, 170–172
Amenities, 51
American Enterprise Institute, 91n.
American Relief Administration, 17
Ancient world, 13
Annalist, The, 117n.
Anne, Queen, 73
Anticapitalist mentality, 47
Argentina, 19
Ashton, T. S., 17n.
About the Publisher
The Foundation for Economic Education, Inc., was established in 1946 by Leonard E. Read to study and advance the moral and intellectual rationale for a free society.
The Foundation publishes The Freeman, an award-winning monthly journal of ideas in the fields of economics, history, and moral philosophy. FEE also publishes books, conducts seminars, and sponsors a network of discussion clubs to improve understanding of the principles of a free and prosperous society.
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What You Should Know About Inflation
Title Page
What You Should Know
About Inflation
by
HENRY HAZLITT
SECOND EDITION
D. VAN NOSTRAND COMPANY, INC.
PRINCETON, NEW JERSEY
TORONTO | LONDON |
NEW YORK
Copyright Page
D. VAN NOSTRAND COMPANY, INC.
120 Alexander St., Princeton, New Jersey (Principal office)
24 West 40 Street, New York 18, New York
D. VAN NOSTRAND COMPANY, LTD.
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Preface
This book was first published in 1960. For the present edition, the main statistical comparisons and tables have been brought up to date. Where older figures and comparisons illustrate the particular principle or contention involved fully as well as more recent figures would, however, they have been allowed to stand.
HENRY HAZLITT
July, 1964.
1. What Inflation Is
No subject is so much discussed today—or so little understood—as inflation. The politicians in Washington talk of it as if it were some horrible visitation from without, over which they had no control—like a flood, a foreign invasion, or a plague. It is something they are always promising to “fight”—if Congress or the people will only give them the “weapons” or “a strong law” to do the job.
