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Tuesday, October 25, 2016

The Contrivance of Scarcities

This quotation is from the book 'Economists and the Public;


This quotation is from page 344 of the 1990 Transaction Publishers reprint of W.H. Hutt‘s 1936 book, Economists and the Public:

In countless fields and by innumerable devices we see the deliberate contrivance of scarcities, the abolition of which would surely enable the dissolution of what we to-day regard as physical poverty.

While many such contrivances have thankfully been abolished or reduced in the 80 years since Hutt wrote these words, too many – such as the tariffs and occupational-licensing restrictions that persist – still remain.  And these contrivances that make scarcity artificially worse are endorsed by conservatives and “Progressives” alike.

Reprinted from Cafe Hayek

 


  • Donald J. Boudreaux is a senior fellow with the F.A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center at George Mason University, a Mercatus Center Board Member, and a professor of economics and former economics-department chair at George Mason University.