Today, people draw inspiration from quotes. A quote is an extract from a passage or a book that can associate with a personal situation. It can be a one-line sentence or a multiple-line sentence. The definite notion of the quote is that it could be from an individual’s article or speech. It can be from a book or a journal, and the quote must possess the proficiency to inspire anyone that expresses an interest in it.
Taking a look at Henry Hazlitt quote
In our present society, people use quotes in diverse areas of life as a source of inspiration. We have a collection of quotes from people like Abraham Lincoln, Aristotle, Barrack Obama, and so many historians from different walks of life. Henry Hazlitt is a renowned Economist recognized around the globe for his great quotes that touch the heart of economics itself. He has featured in several books and journals that encompass Economics.
Now, let’s look at Henry Hazlitt quote.
The Biography Of Henry Hazlitt
Henry Hazlitt was born in a small town in Philadelphia, Pennsylvania, on November 28, 1894. His parents were Clerk Stuart and Bertha Hazlitt. They all lived a simple life in Philadelphia. His father and his mother were popular for the simplicity in their lifestyles.
His father served as a clerk in his town. When Henry was only five months of age, his father died of diabetes. After his father’s death, his mother married another man known as Mr. Fredrick E. Piebes. Henry and his mother moved to Brooklyn with his stepfather.
In the year 1905, they had a census in the state, and the officials counted Henry as Henry S. Pieces. It means that the name of Hazlitt was no longer part of his biodata. Henry lost his stepfather two years after that census.
Following the will of his stepfather, Henry inherited a property with the name Henry Hazlitt Pieces. He acquired an education based on the Austrian school system. Thus, he has degrees in Economics, Literary Criticism, and Philosophy.
As a teenager, his drive and passion for writing got him a job at the Wall Street Journal. There, he started his career as the secretary to the Managing Editor while working on his interest in the field of economics.
Later, he became a financial editor for the New York Evening Mail, and during this time, he was able to polish his understanding of economics by frequent interactions with Benjamin Anderson.
Henry’s Family life
Henry got married to Valerie Earle, who was the daughter of the well-known photographer and also a great film director by the name, William P. S. Earle. Henry and Valerie got married in the church by a minister.
However, they got divorced after some time. Henry moved on much later to marry another lady by name Frances Kanes. She is the lady behind the Concise Bible. They were both happily married until the day she died in the year 1991. Henry died at the age of 98 in Fairfield, Connecticut.
Henry’s Famous Books
Henry Hazlitt is famous around the world for his publications about business and economics. The American Wall Street Journalist published three books on the subject of inflation, including From Bretton Woods to World Inflation.
He has two influential articles on poverty, Man vs. The Welfare State, and The Conquest of Poverty. Also, his most influential work in philosophy, The Foundations of Morality.
Some of these books contain great quotes that have inspired many young and old individuals today in the world of Economics. This article gives details of some books and highlights the quotes which serve as a guide for economic progress.
Thinking as a science
Thinking as a science is a book that entails instruction in clear and logical thinking. It presents itself as a practical guide to reading and writing, providing information about errors of analogy and definition.
He wrote the 251-pages book in the year 1915, and it had its epilogue in 1916. He finally published the book in Los Angeles, California, in 1969 with a publishing company called Nash Publishing.
The book has been the source of quotes on various occasions on different platforms, books, articles, journals, and even web content for educative purposes. We will review some quotes in the book, which we consider to be famous quotes.
“Every man knows there are evils in this world which need setting right. Every man has pretty definite ideas as what these evils are. But to most men, one, in particular, stands out vividly. To some, this stands out with such startling vividness that they lose sight of other evils, or look upon them as the natural consequence of their own particular evil-in-chief”. Henry Hazlitt, Thinking as A Science (1916).
“A man with a scant vocabulary will almost certainly be a weak thinker. The richer and more copious one’s vocabulary, and the greater one’s awareness of fine distinctions and subtle nuances of meaning, the more fertile and precise is likely to be one’s thinking. Knowledge of things and knowledge of the words for them grow together. If you do not know the words, you can hardly know the thing.” Henry Hazlitt, Thinking as a Science (1916)
Economics in one lesson
The book, Economics in one lesson, is a must-read for everyone. It is a book published for people with the passion of taking a career as an economist. Henry Hazlitt, in this book, was as expressive as a prophet in writing it.
One could say he knew that the world would be like this today in terms of economic growth. The book, first published in the year 1946, has been edited for publishing by so many publishing companies as the year goes by.
The book explains how factors can affect economics. It is another Henry’s book that has also been quoted by so many writers in their content, and for the purpose of this article, we sorted out a few quotes that are popular to individuals as it touches the world of economics.
“Practically all government attempts to redistribute wealth and income tend to smother productive incentives and lead toward general impoverishment. It is the proper sphere of government to create and enforce a framework of law that prohibits force and fraud. But it must refrain from specific economic interventions.
Government’s main economic function is to encourage and preserve a free market. When Alexander the Great visited the philosopher Diogenes and asked whether he could do anything for him, Diogenes is said to have replied: ‘Yes, stand a little less between me and the sun’. It is what every citizen is entitled to ask of his government”. Henry Hazlitt, Economics in One Lesson: The Shortest & Surest Way to Understand Basic Economics (1946)
“In an exchange economy, everybody’s money income is somebody else’s cost. Every increase in hourly wages, unless or until compensated by an equal increase in hourly productivity, is an increase in costs of production. An increase in costs of production, where the government controls prices and forbids any price increase, takes the profit from marginal producers, forces them out of business, means a shrinkage in production and a growth in unemployment. Even where a price increase is possible, the higher price discourages buyers, shrinks the market, and also leads to unemployment. If a 30 per cent increase in hourly wages all around the circle forces a 30 per cent increase in prices, labor can buy no more of the product than it could at the beginning; and the merry-go-round must start all over again”. Henry Hazlitt, Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics (1946)
Henry was also a man dedicated to service. He is well known for his service to humanity and this time, not through writing, but through the act of creating an environment for young writers to thrive in.
He has a foundation to his name, which is called The Henry Hazlitt Foundation. The foundation set up in the year 1997, functioned all through to 2002. The primal work of the foundation was to promote libertarian networking among young writers.
The foundation bore his name because of the contributions he has made by inspiring young writers. He also has a Centre named after him, and that is the Hazlitt Policy Centre, which was formed by the Young Americans for Liberty in the year 2019.
Henry Hazlitt is one writer that one would remember in years to come. His contributions range from economy to philosophy, and even Literary criticism. His works will always serve as a guide for higher educative theories. Henry Hazlitt’s quote touches philosophy, and Literary criticism and is still in use in the present society.
“A man who is good from docility, and not from stern self-control, has no character.” Henry Hazlitt.
This quote addresses a lot that has to do with character and human behavior. Henry Hazlitt’s quotes are extracts that you can relate to, and they have the potency to inspire, correct, and redefine notions of business, character, and life that you once had.