By Henry Hazlitt
During this 1969 paintings, Henry Hazlitt explains why politicians who promise salvation via executive are risky. one of the essays: speedy Utopia | Salvation via executive Spending | "We Owe It to Ourselves" | outcomes of greenback Debasement | The excessive price of salary Hikes | expense Controls | extra on fee Controls | Who Protects the patron? | Famines Are Government-Made | Runaway reduction and Social lack of confidence | source of revenue with no paintings | Fallacies of the damaging source of revenue Tax | do we warrantly Jobs? | Soaking the wealthy | Soaking the firms | executive making plans vs. financial progress | executive as Prosperity-Maker | Uruguay: Welfare country long gone Wild | Inflation Is all over the world | The Case for the premiere | The Fallacy of international reduction | govt limitless | From Spencer's 1884 to Orwell's 1984 | the duty Confronting Libertarians | What we will be able to Do approximately It
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Extra resources for Man Vs. the Welfare State
No single price, therefore, can be considered an isolated object in itself. It is interrelated with all other prices. It is precisely through these interrelationships that society is able to solve the immensely difficult and always changing problem of how to allocate production among thousands of different commodities and services so that each may be supplied as nearly as possible in relation to the comparative urgency of the need or desire for it. 舡 Because the desire and need for, and the supply and cost of, every individual commodity or service are constantly changing, prices and price relationships are constantly changing.
They cut down their purchases of the valorized commodity from the valorizing country, and search for other sources of supply. The higher price gives an incentive to other countries to start producing the valorized commodity. Thus, the British rubber scheme led Dutch producers to increase rubber production in Dutch dependencies. This not only lowered rubber prices, but caused the British to lose permanently their previous monopolistic position. In addition, the British scheme aroused resentment in the United States, the chief consumer, and stimulated the eventually successful development of synthetic rubber.
The net result of all this has been to force up the wage rates of unskilled labor much more than those of skilled labor. A result of this, in turn, has been that though an increasing shortage has developed in skilled labor, the proportion of unemployed among the unskilled, among teen-agers, females and non-whites has been growing. The outstanding victim has been the Negro, and particularly the Negro teen-ager. In 1952, the unemployment rate among white teen-agers and non-white teen-agers was the same舒9 per cent.