Economics Quote by Henry Hazlitt
“The 'private sector' of the economy is, in fact, the voluntary sector; and the 'public sector' is, in fact, the coercive sector.”
About This Quote
Source Book: Economics in One Lesson by Henry Hazlitt, 1946
The private sector is voluntary cooperation; the public sector relies on coercion.
In simple terms: Voluntary vs forced economic activity.
Support voluntary exchange.
Themes
Mood
Type
When to use this quote
- business
- policy making
- civil society
Key Concepts
Questions to Reflect On
- When is government intervention necessary?
- Can voluntary actions replace all public services?
Coercion can be justified for public goods.