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Henry Hazlitt
Henry Stuart Hazlitt (; November 28, 1894 – July 9, 1993) was an American journalist, economist, and philosopher known for his advocacy of free markets and classical liberal principles. Over a career spanning more than seven decades, Hazlitt wrote extensively on business, economics, and public policy for prominent publications, including ''The Wall Street Journal'', ''The Nation'', '' The American Mercury'', ''Newsweek'', and ''The New York Times''. He is best known for his 1946 book, '' Economics in One Lesson'', a work grounded in the Austrian school of economics and the importance of individual liberty in economic decision-making. Hazlitt was a strong proponent of sound monetary policy and a vocal critic of inflationary practices and government intervention in markets. As a defender of free enterprise, he drew on the ideas of economists such as Ludwig von Mises and Friedrich Hayek, helping popularize their theories for a general audience. Beyond economics, Hazlitt con ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Austrian School
The Austrian school is a Heterodox economics, heterodox Schools of economic thought, school of economic thought that advocates strict adherence to methodological individualism, the concept that social phenomena result primarily from the motivations and actions of individuals along with their self interest. Austrian-school theorists hold that economic theory should be exclusively derived from basic principles of human action.Ludwig von Mises. Human Action, p. 11, "Purposeful Action and Animal Reaction". Referenced 2011-11-23. The Austrian school originated in 1871 in Vienna with the work of Carl Menger, Eugen von Böhm-Bawerk, Friedrich von Wieser, and others. It was methodologically opposed to the Historical school of economics, Historical school, in a dispute known as ''Methodenstreit'', or methodology quarrel. Current-day economists working in this tradition are located in many countries, but their work is still referred to as Austrian economics. Among the theoretical contribu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Newsweek
''Newsweek'' is an American weekly news magazine based in New York City. Founded as a weekly print magazine in 1933, it was widely distributed during the 20th century and has had many notable editors-in-chief. It is currently co-owned by Dev Pragad, the president and chief executive officer (CEO), and Johnathan Davis, who sits on the board; each owns 50% of the company. In August 2010, revenue decline prompted Graham Holdings, the Washington Post Company to sell ''Newsweek'' to the audio pioneer Sidney Harman for one US dollar and an assumption of the magazine's liabilities. Later that year, ''Newsweek'' merged with the news and opinion website ''The Daily Beast'', forming The Newsweek Daily Beast Company, later called ''NewsBeast''. ''Newsweek'' was jointly owned by the estate of Harman and the company IAC (company), IAC. ''Newsweek'' continued to experience financial difficulties, leading to the suspension of print publication at the end of 2012. In 2013, IBT Media acquired ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brooklyn
Brooklyn is a Boroughs of New York City, borough of New York City located at the westernmost end of Long Island in the New York (state), State of New York. Formerly an independent city, the borough is coextensive with Kings County, one of twelve original counties established under English rule in 1683 in what was then the Province of New York. As of the 2020 United States census, the population stood at 2,736,074, making it the most populous of the five boroughs of New York City, and the most populous Administrative divisions of New York (state)#County, county in the state.Table 2: Population, Land Area, and Population Density by County, New York State - 2020 New York State Department of Health. Accessed January 2, 2024. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foundation For Economic Education
The Foundation for Economic Education (FEE) is an American Conservatism in the United States, conservative, Libertarianism in the United States, libertarian economics, economic think tank. Founded in 1946 in New York City, FEE is now headquartered in Atlanta, Atlanta, Georgia. It is a member of the State Policy Network. FEE offers publications, lectures, and student workshops promoting free market principles. Views FEE states that its mission is to promote principles of "individual liberty, Free market, free-market economics, entrepreneurship, private property, high moral character, and limited government." Friedrich Hayek described FEE's goal as "nothing more nor less than the defense of our civilization against intellectual error." History FEE, founded in 1946, is considered the oldest free-market think tank in the United States. An early aim was to roll back policies of the New Deal. FEE opposed the Marshall Plan, Social Security (United States), Social Security, and Minimum ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Freeman
''The Freeman'' (formerly published as ''The Freeman: Ideas on Liberty'' or ''Ideas on Liberty'') was an American libertarian magazine, formerly published by the Foundation for Economic Education (FEE). It was founded in 1950 by John Chamberlain, Henry Hazlitt, and Suzanne La Follette. The magazine was purchased by a FEE-owned company in 1954, and FEE took over direct control of the magazine in 1956. In September 2016, FEE announced it would permanently end publication of ''The Freeman''. Background A number of earlier publications had used the ''Freeman'' name, some of which were intellectual predecessors to the magazine founded in 1950. ''The Freeman'' (1920–1924) From 1920 to 1924, Albert Jay Nock, a libertarian author and social critic, edited a weekly magazine called ''The Freeman''. Nock's magazine was funded by co-editor Francis Neilson, a British author and former member of Parliament, and his wife Helen Swift Neilson, who was heir to a meatpacking fortune. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Friedrich Hayek
Friedrich August von Hayek (8 May 1899 – 23 March 1992) was an Austrian-born British academic and philosopher. He is known for his contributions to political economy, political philosophy and intellectual history. Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal for work on money and economic fluctuations, and the interdependence of economic, social and institutional phenomena. His account of how prices communicate information is widely regarded as an important contribution to economics that led to him receiving the prize. He was a major contributor to the Austrian school of economics. During his teenage years, Hayek fought in World War I. He later said this experience, coupled with his desire to help avoid the mistakes that led to the war, drew him into economics. He earned doctoral degrees in law in 1921 and political studies in 1923 from the University of Vienna. He subsequently lived and worked in Austria, Great Britain, the United Sta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inflation
In economics, inflation is an increase in the average price of goods and services in terms of money. This increase is measured using a price index, typically a consumer price index (CPI). When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money. The opposite of CPI inflation is deflation, a decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index. Changes in inflation are widely attributed to fluctuations in Real versus nominal value (economics), real demand for goods and services (also known as demand shocks, including changes in fiscal policy, fiscal or monetary policy), changes in available supplies such as during energy crisis, energy crises (also known as supply shocks), or changes in inflation expectations, which may be self-fulfilling. Moderat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hard Currency
In macroeconomics, hard currency, safe-haven currency, or strong currency is any globally traded currency that serves as a reliable and stable store of value. Factors contributing to a currency's ''hard'' status might include the stability and reliability of the respective state's legal and bureaucratic institutions, level of corruption, long-term stability of its purchasing power, the associated country's political and fiscal condition and outlook, and the policy posture of the issuing central bank. Safe haven currency is defined as a currency which behaves like a hedge for a reference portfolio of risky assets conditional on movements in global risk aversion. Conversely, a weak or soft currency is one which is expected to fluctuate erratically or depreciate against other currencies. Softness is typically the result of weak legal institutions and/or political or fiscal instability. Junk currency is even less trusted than soft currency, and has a very low currency value. Soft ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Civil Liberties
Civil liberties are guarantees and freedoms that governments commit not to abridge, either by constitution, legislation, or judicial interpretation, without due process. Though the scope of the term differs between countries, civil liberties often include the freedom of conscience, freedom of press, freedom of religion, freedom of expression, freedom of assembly, the right to security and liberty, freedom of speech, the right to privacy, the right to equal treatment under the law and due process, the right to a fair trial, and the right to life. Other civil liberties include the right to own property, the right to defend oneself, and the right to bodily integrity. Within the distinctions between civil liberties and other types of liberty, distinctions exist between positive liberty/ positive rights and negative liberty/ negative rights. Libertarians advocate for the negative liberty aspect of civil liberties, emphasizing minimal government intervention in both personal a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Austrian School Of Economics
The Austrian school is a heterodox school of economic thought that advocates strict adherence to methodological individualism, the concept that social phenomena result primarily from the motivations and actions of individuals along with their self interest. Austrian-school theorists hold that economic theory should be exclusively derived from basic principles of human action.Ludwig von Mises. Human Action, p. 11, "Purposeful Action and Animal Reaction". Referenced 2011-11-23. The Austrian school originated in 1871 in Vienna with the work of Carl Menger, Eugen von Böhm-Bawerk, Friedrich von Wieser, and others. It was methodologically opposed to the Historical school, in a dispute known as '' Methodenstreit'', or methodology quarrel. Current-day economists working in this tradition are located in many countries, but their work is still referred to as Austrian economics. Among the theoretical contributions of the early years of the Austrian school are the subjective theory ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics In One Lesson
''Economics in One Lesson'' is an introduction to economics written by Henry Hazlitt and first published in 1946. It is based on Frédéric Bastiat's essay ' (English: "What is Seen and What is Not Seen"). The "One Lesson" is stated in Part One of the book: "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." Part Two consists of twenty-four chapters, each demonstrating the lesson by tracing the effects of one common economic belief, and exposing common economic belief as a series of fallacies. Among its policy recommendations are the advocacy of free trade, an opposition to price controls, an opposition to monetary inflation, and an opposition to fiscal policy, such as stimulative governmental expenditures, arguing: There are men regarded today as brilliant economists, who deprecate saving and recommend squanderi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Basic Books
Basic Books is a book publisher founded in 1950 and located in New York City, now an imprint of Hachette Book Group. It publishes books in the fields of psychology, philosophy, economics, science, politics, sociology, current affairs, and history. History Basic Books originated as a small Greenwich Village-based book club marketed to psychoanalysts. Arthur Rosenthal took over the book club in 1950, and under his ownership it soon began producing original books, mostly in the behavioral sciences. Early successes included Ernest Jones's ''The Life and Work of Sigmund Freud'', as well as works by Claude Lévi-Strauss, Jean Piaget and Erik Erikson. Irving Kristol joined Basic Books in 1960, and helped Basic to expand into the social sciences. Harper & Row purchased the company in 1969. In 1997, HarperCollins announced that it would merge Basic Books into its trade publishing program, effectively closing the imprint and ending its publishing of serious academic books. That sam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
