A Quote by Henry Hazlitt
The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.
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The world still consists of two clearly divided groups: the English and the foreigners. One group consists of less than 50 million people; the other of 3,950 million. The latter group does not really count.
True wisdom consists of tracing effects to their causes.
Manliness consists not in bluff, bravado or loneliness. It consists in daring to do the right thing and facing consequences whether it is in matters social, political or other. It consists in deeds not words.
The bad economist sees only what immediately strikes the eye; the good economist also looks beyond. The bad economist sees only the direct consequences of a proposed course; the good economist looks also at the longer and indirect consequences. The bad economists sees only what the effect of a given policy has been or will be on one particular group; the good economist inquires also what the effect of the policy will be on all groups
The ultimate politeness in art consists of speaking only to those who are able to uncover and measure its relationships. Anything else is symbolic, and symbolism is merely transcendental imagery.
Tyranny has no need of arts or sciences, for its policy, which is very shallow and without any refinement, only consists in shedding blood.
Life consists not merely in existing, but in enjoying health.
Creativity often consists of merely turning up what is already there.
Clever policy consists in making nations believe they are free.
I suspected economics was irredeemable as a policy tool for citizens groups. I saw economics lead its practitioners and citizens alike into a form of brain-damaging indoctrination.
We need to keep in mind the well-established fact that the full effects of monetary policy are felt only after long lags. This means that policy makers cannot wait until they have achieved their objectives to begin adjusting policy.
Reagan took an approach to the Cold War dramatically different from any other US President. To wit, he thought we should win. This was a fresh concept. At the time, it was widely ridiculed as a dangerous alteration of US policy. Only after it worked was Reagan's dangerous foreign policy recast as merely a continuation of the policies of his predecessors.
Ninety percent of most magic merely consists of knowing one extra fact.
Falling in love consists merely in uncorking the imagination and bottling the common sense.
In an economy, an act, a habit, an institution, or a law, gives birth not only to an effect, but to a series of effects. Of these effects, the first only is immediate; it manifests itself simultaneously with its cause - it is seen. The others unfold in succession - they are not seen. Now this difference is enormous, for it is often true that when the immediate consequence is favorable, the ultimate consequences are fatal, and the converse.
You know you've reached middle age when your weightlifting consists merely of standing up.
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