Henry Hazlitt 1894--1993

"The more the state 'plans' the more difficult planning becomes for the individual."

Hazlitt articulates a fundamental insight into the relationship between state planning and individual autonomy. He argues that as the state expands its planning activities, it encroaches on the ability of individuals to plan their own lives and make choices based on their unique circumstances and preferences.

"The 'private sector' of the economy is, in fact, the voluntary sector; and...the 'public sector' is, in fact, the coercive sector."

Hazlitt clarifies the nature of the private and public sectors in the economy. He highlights that the private sector operates on voluntary exchanges, while the public sector relies on coercion, often through taxation and regulation.

"Government has nothing to give anybody except what it first takes from somebody, and a government that's big enough to give you everything you want is big enough to take away everything you've got."

Hazlitt succinctly expresses the idea that government does not create wealth but redistributes it. He warns against the dangers of a government that promises to provide everything, emphasizing the potential for overreach and loss of individual freedoms.

"The first requisite of a sound monetary system is that it put the least possible power over the quantity or quality of money in the hands of the politicians."

Hazlitt advocates for a sound monetary system that minimizes political interference. This quote underscores his belief in the importance of separating monetary policy from political manipulation to maintain economic stability and integrity.

"The real cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run."

Hazlitt delves into the concept of opportunity cost and the true cost of a product or service. By framing it in terms of the amount of life spent to acquire something, he emphasizes the idea that resources, including time and effort, are finite and valuable.

ChatGPT - Give me a short biography on Henry Hazlitt.

• Henry Hazlitt (1894–1993) was an American journalist, literary critic, and economist known for his influential contributions to economic thought and his advocacy for free-market principles. Born on November 28, 1894, in Philadelphia, Pennsylvania, Hazlitt began his career in journalism at a young age.

• Hazlitt worked for various publications, including The Wall Street Journal, The New York Times, and Newsweek, where he served as literary editor. His interest in economic issues grew over time, leading him to write extensively on economic topics and policy.

• One of Hazlitt's most notable works is "Economics in One Lesson" (1946), a book that distills economic principles into accessible lessons. In this work, he emphasized the importance of considering the long-term effects and unintended consequences of economic policies.

• Hazlitt was a strong advocate for free-market capitalism and classical liberal ideas. He served as the editorial writer for The New York Times from 1934 to 1946, where he continued to articulate and promote his economic views.

• Apart from "Economics in One Lesson," Hazlitt wrote numerous books, essays, and articles on economic theory, ethics, and public policy. He was a prominent member of the Austrian School of Economics, a school of economic thought that emphasizes individualism, subjective value theory, and the importance of the entrepreneur in the market.

• Henry Hazlitt's influence extended beyond his writing; he played a key role in popularizing economic ideas and principles for a general audience. He passed away on July 9, 1993, leaving a legacy as a passionate advocate for free-market economics and a clear communicator of economic concepts to a broad audience.

ChatGPT - Give me interesting facts about Henry Hazlitt's personal life.

• Pacifism and World War I: Henry Hazlitt was a pacifist during World War I. His anti-war stance led him to leave his job at The New York Times in 1918 when the paper adopted a pro-war position. This early commitment to pacifism influenced his later views on war and foreign policy.

• Marriage and Family: Hazlitt was married three times. His first two marriages ended in divorce. He married Frances Kanes in 1936, and they remained married until her death in 1971. Hazlitt dedicated his book "The Foundations of Morality" (1964) to his wife Frances.

• Passion for Classical Music: Hazlitt had a deep passion for classical music, particularly the works of Ludwig van Beethoven. He wrote about his love for music and its emotional impact in some of his essays. This interest in the arts complemented his intellectual pursuits in economics and philosophy.

• Influence on William F. Buckley Jr.: Hazlitt was a mentor and an influential figure in the life of conservative intellectual William F. Buckley Jr. Their relationship began when Buckley sought Hazlitt's guidance on his first book, "God and Man at Yale" (1951). Hazlitt's support played a role in shaping Buckley's intellectual development.

• Longevity and Late Career Productivity: Hazlitt remained active and productive well into his later years. He continued writing and contributing to economic discourse into his nineties. His longevity and sustained intellectual output showcased his dedication to advancing economic ideas and principles throughout his life.

List of all major books by Henry Hazlitt:

Economics:

1. "Thinking as a Science" (1916)

2. "Economics in One Lesson" (1946)

3. "Will Dollars Save the World?" (1947)

4. "The Full Employment Bill: An Analysis" (1945)

5. "What You Should Know About Inflation" (1960)

6. "The Critics of Keynesian Economics" (1960)

7. "The Failure of the 'New Economics'" (1959)

8. "Man vs. The Welfare State" (1969)

9. "The Conquest of Poverty" (1973)

10. "The Foundations of Morality" (1964)

Philosophy and Ethics:

1. "The Way to Will Power" (1922)

2. "The Anatomy of Criticism" (1933)

3. "Time Will Run Back: A Novel about the Rediscovery of Capitalism" (1966)

Literary Criticism:

1. "Thinking as a Science" (1916)

2. "The Anatomy of Criticism" (1933)

3. "The Wisdom of the Stoics" (1947)

Autobiography:

1. "The Story of Philosophy: The Lives and Opinions of the Greater Philosophers" (co-authored with Will Durant) (1926)

Miscellaneous:

1. "The Free Man's Library" (co-authored with Leonard E. Read) (1956)