The net result remains: private loans will utilize existing resources and capital far better than government loans. Government loans will waste far more capital and resources than private loans. Government loans, in short, as compared with private loans, will reduce production, not increase it.
Henry Hazlitt
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One could not believe that this was written more than 60 years ago..big thoughts from Henry Hazlitt
There is no more persistent and influential faith in the world today than the faith in government spending. Everywhere government spending is presented as a panacea for all our economic ills. Is private industry partially stagnant? We can fix [...]
Today is already the tomorrow which the bad economist yesterday urged us to ignore. Henry Hazlitt