Economics in One Lesson
With over a million copies sold, Economics in One Lesson is an essential guide to the basics of economic theory. A fundamental influence on modern libertarianism, Hazlitt defends capitalism and the free market from economic myths that persist to this day.
Considered among the leading economic thinkers of the "Austrian School," which includes Carl Menger, Ludwig von Mises, Friedrich (F.A.) Hayek, and others, Henry Hazlitt (1894-1993), was a libertarian philosopher, an economist, and a journalist. He was the founding vice-president of the Foundation for Economic Education and an early editor of The Freeman magazine, an influential libertarian publication. Hazlitt wrote Economics in One Lesson, his seminal work, in 1946. Concise and instructive, it is also deceptively prescient and far-reaching in its efforts to dissemble economic fallacies that are so prevalent they have almost become a new orthodoxy.
Economic commentators across the political spectrum have credited Hazlitt with foreseeing the collapse of the global economy which occurred more than 50 years after the initial publication of Economics in One Lesson. Hazlitt's focus on non-governmental solutions, strong -- and strongly reasoned -- anti-deficit position, and general emphasis on free markets, economic liberty of individuals, and the dangers of government intervention make Economics in One Lesson every bit as relevant and valuable today as it has been since publication.
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LibraryThing ReviewUser Review - christopher.hicks - LibraryThing
Calling this a lesson in economics is blatantly deceptive. This is a polemic against government intervention in the economy. As a student in economics I found the use of this title for something ... Read full review
LibraryThing ReviewUser Review - beatgammit - LibraryThing
I liked the message overall, but it was quite wordy and could've been accomplished in 1/4 the pages. I also didn't like the shallow treatment of prevalent economic ideas, which I found a bit ... Read full review
PREFACE to THE NEw EDITION
PREFACE to the FIRSt Edition
THE LESSON APPLIED
The Broken Window
The Blessings of Destruction
Public Works Mean Taxes
Saving the X Industry
How the Price System Works
What Rent Control Does
Minimum Wage Laws
XX Do Unions Really Raise Wages?
Enough to Buy Back the Product
Taxes Discourage Production
Credit Diverts Production
The Curse of Machinery
Disbanding Troops and Bureaucrats
The Fetish of Full Employment
Whos Protected by Tariffs?
The Drive for Exports