“The ‘private sector’ of the economy is, in fact, the voluntary sector; and the ‘public sector’ is, in fact, the coercive sector.”
Henry Hazlitt
“When the government makes loans or subsidies to business, what it does is to tax successful private business in order to support unsuccessful private business.”
Henry Hazlitt
“The art of economics consists in 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.”
Henry Hazlitt
“..either immediately or ultimately every dollar of government spending must be raised through a dollar of taxation. Once we look at the matter. In this way, the supposed miracles of government spending will appear in another light.”
Henry Hazlitt
During Henry Hazlitt’s entire lifetime his economic ideas were protected by a 30% tarrif on Mexican and Canadian goods. Hazlitt never had to deal with free trade. He died six months before clinton signed NAFTA
Given what has happened to our economy since then, I’d argue that the man was right, or at least more right than wrong.
Or am I mistaken in my belief that the American Jobs sector has taken a beating since NAFTA came into being?