"The 'private sector' of the economy is, in fact, the voluntary sector; and the 'public sector' is, in fact, the coercive sector"

In this quote, Henry Hazlitt is highlighting the fundamental distinction in between the private and public sectors of the economy. He argues that the economic sector, that includes businesses and individuals, operates on a voluntary basis. This indicates that they are totally free to make their own choices and decisions with no external force or pressure. On the other hand, the general public sector, that includes government companies and organizations, operates through coercion. This indicates that they have the power to enforce laws and policies, and individuals and companies are obliged to comply. Hazlitt's quote sheds light on the contrasting nature of these two sectors and the function of individual freedom in the economy.