..either immediately or ultimately every dollar of government spending must be raised through a dollar of taxation. Once we look at the matter. In th… - Henry Hazlitt

either immediately or ultimately every dollar of government spending must be raised through a dollar of taxation.

what is really being lent is not money, which is merely the medium of exchange, but capital.

So we have finished with the broken window. An elementary fallacy. Anybody, one would think, would be able to avoid it after a few moments’ thought. Yet the broken-window fallacy, under a hundred disguises, is the most persistent in the history of economics. It is more rampant now than at any time in the past. It is solemnly reaffirmed every day by great captains of industry, by chambers of commerce, by labor union leaders, by editorial writers and newspaper columnists and radio commentators, by learned statisticians using the most refined techniques, by professors of economics in our best universities. In their various ways they all dilate upon the advantages of destruction.

To try to cure unemployment by inflation rather than by adjustment of specific wage-rates is like trying to adjust the piano to the stool rather than the stool to the piano.