A vital function of the free ...

A vital function of the free market is to penalize inefficiency and misjudgment and to reward efficiency and good judgment.  By distorting economic calculations and creating illusory profits, inflation will destroy this function.
A vital function of the free market is to penalize inefficiency and misjudgment and to reward efficiency and good judgment. By distorting economic calculations and creating illusory profits, inflation will destroy this function.
 Henry Hazlitt

More phrases

Courage - a perfect sensibility of the measure of danger, and a mental willingness to endure it.
 William Tecumseh Sherman
Feeling, in the broad sense of whatever is felt in any way, as sensory stimulus or inward tension, pain, emotion or intent, is the mark of mentality.
 Susanne Katherina Langer
In that period, we had the Cold War mentality imbued through us - the Post-war [environment] and the Cold War. I think we were reflecting some of that. This was before the Wall collapsed, etc.
 Stephen Mallinder
The kind of group mentality that we had lived under since the Second World War is starting to erupt, and the craving for individualism is now much stronger. It's not as taboo anymore, as it was when I was younger.
 Nicolas Winding Refn
I come out of a Cold War sensibility, a Cold War mentality, and during those Cold War years, I used to know, I thought, the answers to everything. And since the end of the Cold War, I'm just a dumb as everyone else.
 Jules Feiffer

Quotes from the same author

You cannot make a man worth a given amount by making it illegal for anyone to offer him anything less. You merely deprive him of the right to earn the amount that his abilities and situation would permit him to earn, while you deprive the community even of the moderate services that he is capable of rendering. In brief, for a low wage you substitute unemployment. You do harm all around, with no comparable compensation.
 Henry Hazlitt
There can be little doubt that many egalitarians are motivated at least partly by envy.
 Henry Hazlitt
There may have been somewhere, as a few eighteenth-century philosophers dreamed, a group of peaceful men who got together one evening after work and drew up a Social Contract to form the state. But nobody has been able to find an actual record of it. Practically all the governments whose origins are historically established were the result of conquest-of one tribe by another, one city by another, one people by another. Of course there have been constitutional conventions, but they merely changed the working rules of governments already in being.
 Henry Hazlitt
When people who earn more than the average have their 'surplus', or the greater part of it, seized from them in taxes, and when people who earn less than average have the deficiency , or the greater part of it, turned over to them in hand-outs and doles, the production of all must sharply decline; for the energetic and able who lose their incentive to produce more than the average, and the slothful and unskilled lose their incentive to improve their condition.
 Henry Hazlitt
Socialists will often talk as if some form of superbly equalized destitution were preferable to "maldistributed" plenty. A national income that is rapidly growing in absolute terms for practically everyone will be deplored because it is making the rich richer.
 Henry Hazlitt