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Disbanding Troops and Bureaucrats 53for the support of the bureaucrats. Once again it is forgotten that thetaxpayers’ income and purchasing power go up by at least as much asthe income and purchasing power of the former officeholders godown. If the particular shopkeepers who formerly got the business ofthese bureaucrats lose trade, other shopkeepers elsewhere gain at leastas much. Washington is less prosperous, and can, perhaps, supportfewer stores; but other towns can support more.Once again, however, the matter does not end there. The countryis not merely as well off without the superfluous officeholders as itwould have been had it retained them. It is much better off. For theofficeholders must now seek private jobs or set up private businesses.And the added purchasing power of the taxpayers, as we noted in thecase of the soldiers, will encourage this. But the officeholders can takeprivate jobs only by supplying equivalent services to those who providethe jobs—or, rather, to the customers of the employers who providethe jobs. Instead of being parasites, they become productive menand women.I must insist again that in all this I am not talking of public officeholderswhose services are really needed. Necessary policemen, firemen,street cleaners, health officers, judges, legislators, and executivesperform productive services as important as those of anyone in privateindustry. They make it possible for private industry to function inan atmosphere of law, order, freedom, and peace. But their justificationconsists in the utility of their services. It does not consist in the“purchasing power” they possess by virtue of being on the public payroll.This “purchasing power” argument is, when one considers it seriously,fantastic. It could just as well apply to a racketeer or a thief whorobs you. After he takes your money he has more purchasing power.He supports with it bars, restaurants, nightclubs, tailors, perhaps automobileworkers. But for every job his spending provides, your ownspending must provide one less, because you have that much less tospend. Just so the taxpayers provide one less job for every job suppliedby the spending of officeholders. When your money is taken by a thief,you get nothing in return. When your money is taken through taxes to
54 Economics in One Lessonsupport needless bureaucrats, precisely the same situation exists. Weare lucky, indeed, if the needless bureaucrats are mere easygoingloafers. They are more likely today to be energetic reformers busily discouragingand disrupting production.When we can find no better argument for the retention of anygroup of officeholders than that of retaining their purchasing power,it is a sign that the time has come to get rid of them.
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Economics in One Lesson
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viii Economics in One Lessonsubject
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x Economics in One LessonWhen it ca
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xii Economics in One Lessonnow pass
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xiv Economics in One Lessonbe fully
Page 18 and 19: CHAPTER 1The Lesson1Economics is ha
Page 20 and 21: The Lesson 5policies may become evi
Page 22: The Lesson 7are illustrated by exam
Page 26 and 27: CHAPTER 2The Broken WindowLet us be
Page 28 and 29: CHAPTER 3The Blessings of Destructi
Page 30 and 31: The Blessings of Destruction 15beca
Page 32 and 33: CHAPTER 4Public Works Mean Taxes1Th
Page 34 and 35: Public Works Mean Taxes 19absolutel
Page 36 and 37: Public Works Mean Taxes 21a lump su
Page 38 and 39: CHAPTER 5Taxes Discourage Productio
Page 40 and 41: CHAPTER 6Credit Diverts Production1
Page 42 and 43: Credit Diverts Production 27whole c
Page 44 and 45: Credit Diverts Production 29a chari
Page 46 and 47: Credit Diverts Production 31The pri
Page 48 and 49: CHAPTER 7The Curse of Machinery1Amo
Page 50 and 51: The Curse of Machinery 35If the rea
Page 52 and 53: The Curse of Machinery 37Mr. Edward
Page 54 and 55: The Curse of Machinery 39long run t
Page 56 and 57: The Curse of Machinery 41argued, fo
Page 58: The Curse of Machinery 43Yes, we sh
Page 61 and 62: 46 Economics in One LessonCommittee
Page 63 and 64: 48 Economics in One Lessondo make t
Page 65 and 66: 50 Economics in One Lessonwork coul
Page 67: 52 Economics in One Lessonthe case
Page 71 and 72: 56 Economics in One Lessonconsequen
Page 74 and 75: CHAPTER 11Who’s “Protected” b
Page 76 and 77: Who’s “Protected” by Tariffs?
Page 84 and 85: CHAPTER 12The Drive for ExportsExce
Page 86 and 87: The Drive for Exports 71would think
Page 88: The Drive for Exports 73Bad loans a
Page 91 and 92: 76 Economics in One Lessonlaw; and
Page 93 and 94: 78 Economics in One Lessonfrom indu
Page 95 and 96: 80 Economics in One Lessonimpositio
Page 98 and 99: CHAPTER 14Saving the X Industry1The
Page 100 and 101: Saving the X Industry 85with a sing
Page 102: Saving the X Industry 87they are mo
Page 105 and 106: 90 Economics in One Lessonthe effic
Page 107 and 108: 92 Economics in One Lessonmake that
Page 109 and 110: 94 Economics in One Lessonup mounta
Page 112 and 113: CHAPTER 16“Stabilizing” Commodi
Page 114 and 115: “Stabilizing” Commodities 99pro
Page 116 and 117: “Stabilizing” Commodities 101eq
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“Stabilizing” Commodities 103wh
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106 Economics in One Lessoncost. Le
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108 Economics in One Lessonrationed
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110 Economics in One Lessonpower, i
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112 Economics in One Lessonor stop
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CHAPTER 18Minimum Wage Laws1We have
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Minimum Wage Laws 117except by payi
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Minimum Wage Laws 119efficiency on
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122 Economics in One Lessonhim? And
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124 Economics in One Lessonprofessi
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126 Economics in One LessonThe unem
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128 Economics in One Lessonwhole co
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130 Economics in One Lessonbalance,
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CHAPTER 20“Enough to Buy Back the
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“Enough to Buy Back the Product
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142 Economics in One Lessonconditio
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144 Economics in One LessonProfits,
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146 Economics in One Lessonwealth.
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148 Economics in One Lessondemand:
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150 Economics in One Lessonthey wil
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152 Economics in One Lessonmoney ei
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154 Economics in One Lessonmaterial
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156 Economics in One Lessonmerely t
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CHAPTER 23The Assault on Saving1Fro
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The Assault on Saving 161to friends
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The Assault on Saving 163their buyi
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The Assault on Saving 165an eleven-
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The Assault on Saving 167this savin
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The Assault on Saving 169The argume
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The Assault on Saving 171includes m
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CHAPTER 24The Lesson Restated1Econo
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The Lesson Restated 177Now few peop
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The Lesson Restated 179the reformer
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The Lesson Restated 181oranges. Ora
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The Lesson Restated 183with sympath
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186 Economics in One Lessonparity p
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188 Economics in One LessonRobinson
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