Mises Wire
Author:
Henry Hazlitt
Online Publish Date:
[Newsweek column from May 9, 1949, and reprinted in Business Tides: The Newsweek Era of Henry Hazlitt.] We are now being told that our prosperity has been kept going in the last few years by our huge government spending, particularly on armaments and foreign aid. Any decline in this spending, we are now warned, would bring a recession. We are