Skip to content

Caprice Quote by Henry Hazlitt

“The great merit of gold is precisely that it is scarce; that its quantity is limited by nature; that it is costly to discover, to mine, and to process; and that it cannot be created by political fiat or caprice.” quote by Henry Hazlitt
Download Open image
“The great merit of gold is precisely that it is scarce; that its quantity is limited by nature; that it is costly to discover, to mine, and to process; and that it cannot be created by political fiat or caprice.”

Henry Hazlitt

About This Quote

Source Book: Economics in One Lesson, 1946

Gold’s value stems from its natural scarcity and production difficulty, not from political decree.

In simple terms: Gold is valuable because it’s rare and costly to make.

Key Takeaway

Recognize scarcity as value driver.

Themes

economics scarcity valuation

Mood

analytical critical

Type

philosophical educational

When to use this quote

  • investment strategies
  • policy debates
  • educational curricula

Key Concepts

monetary theory resource economics inflation

Questions to Reflect On

  • Is scarcity always a reliable measure of worth?
  • How do digital assets compare?
A Different Perspective

Market fluctuations can affect perceived scarcity.

3.1 out of 5 (8 ratings)

More by Henry Hazlitt

Explore all 148 Henry Hazlitt quotes

More Caprice quotes

Browse all 110 Caprice quotes