Henry Hazlitt Quotes
Economic progress and justice do not consist in superbly equalized destitution, but in the constant creation of more and more goods and services, of more and more wealth and income to be shared.
Hazlitt, Henry. The Foundations of Morality. D. Van Nostrand, 1964.
He was concerned that if steps were taken to protect the environment and they slowed or shrank economic growth, the burden would fall disproportionately on the poor.
There are many who observe that Saudi Arabia has the world’s most efficient oil deposits without which the nation would be poorer than most other Middle Eastern nations. With such huge oil revenues, there is no need of good governance.
At the time of this quotation, the nation had gone through more than 3 decades of enormous increase in prosperity for the wealthy, and modest gains for the highly skilled, technically trained workers. However, correcting for inflation, average salaries did not increase at all. The middle class was particularly hard hit. Only 20 percent of the population benefitted from the growth at all; however, the 1 percent had rarely prospered more. Kenworthy’s principle did not apply for this period of American history.
Henry Stuart Hazlitt was an American journalist who wrote about business and economics for such publications as The Wall Street Journal, The Nation, The American Mercury, Newsweek, and The New York Times.
