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Economics Quote by Henry Hazlitt

“Emotional economics has given birth to theories that calm examination cannot justify. One of these is the idea that labor is being “underpaid” generally. This would be analogous to the notion that in a free market prices in general are chronically too low. Another curious but persistent notion is…” quote by Henry Hazlitt
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““Emotional economics has given birth to theories that calm examination cannot justify. One of these is the idea that labor is being “underpaid” generally. This would be analogous to the notion that in a free market prices in general are chronically too low. Another curious but persistent notion is that the interests of a nation’s workers are identical with each other, and that an increase in wages for one union in some obscure way helps all other workers. Not only is there no truth in this idea; the truth is that, if a particular union by coercion is able to enforce for its own members a wage substantially above the real market worth of their services, it will hurt all other workers as it hurts other members of the community.””

Henry Hazlitt

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