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Economics In One Lesson
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Book Overview
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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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Book Reviews (12)
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Outlines the libertarian/classical liberal economic view
Derived From Web , Apr 20, 2022
It changed the way I thought about government intervention in the economy. If you think about it, you should go into the book understanding that it has a clear libertarian orientation. It has a deductive approach, which has its problems, but is incredibly useful to help readers ask the right questions about how the outcomes and goals of well-intentioned policies can diverge. The main premise is that the economic consequences of a policy need to be understood not only in light of the immediate effects on the target of the policy, but also in terms of how that intervention can distort decisions of actors the policy might overlook. The book mainly looks at policies that amount to subsidies and price fixing in many forms. Be prepared for forcible entry into many of the sacred cows of today's government intervention.
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Excellent book. Using logic to spot fallacies is the ...
Derived From Web , Apr 20, 2022
The book is very good. Only by using logic can we truly stand up to the tyranny of authority. Even with Mr. Hazlitt's encouragement, you will be much better prepared to do so. Some of the examples are a little redundant, but it's a classic for a reason. If free market economics appeals to you at all, I strongly recommend it.
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Should be required reading for all high-school students.
Derived From Web , Apr 20, 2022
In "What Happens When We Convince People That Government Policies Really Work?" Hazlitt argues that policies, especially well-intentioned government policies, actually play out in the real world. The main thrust of the report is to look at not just immediate effects on a small target audience but also to consider long-term effects. For example, consider the long-term consequences of climate change on the entire population. He illustrates that time and again, using specific policies and programs as an example. I've now read the book twice and feel I can do it again in another couple of years, Mr. Booher told The Age. There is enough information here to keep the book interesting through several reads, said Dr. Chester Floyd, one of the book's co-authors.
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Outstanding
Derived From Web , Apr 20, 2022
Though this book is a little dated, the principals of economics stand out in a world of hyper-inflation. Every voter should read the entire document to hold their elected leaders accountable to the people they represent. Like 1 1/2, some economic principals work all the time. We continue to repeat the same failed policies of the past and as tried unsuccessfully in other countries because we make knee jerk reactions to isolated events puffed up by ignorant and disproportionate news media coverage, he said.
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Greatly disappointed; drivel
Derived From Web , Jul 16, 2021
As a Ph.D. student in the field of economics, I thought this would help me summarize what I have learned thus far. When I told him I was wrong, he looked at me. This book is a great way to fail the comps and the candidacy exam. If you like column writing from a journalist, then this is the way to go. I didn't see much graphs or mathematical arguments, more of a rant, said Mr. Dhaliwal. Note that Hazlitt was not a mathematician or economist. His rants are also greatly outdated as many economists have moved on to much more rigorous work using mathematics, modeling, and that thing that was created a while back called the computer. The rantings of a journalist simply don't cut it these days. To understand the basics of economics, I recommend grabbing a good econ book, reading up on mathematical economics, and checking out blogs on economic modeling and simulations. Skip to the next drivel.
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No
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So good.
Derived From Web , Jun 26, 2021
I really enjoyed it and have given it to others, Mr. Dhaliwal said. Lots of good information, Michael. The book arrived on time and in excellent condition, said Gillian. No problems here, Mr. Dhaliwal said. Thanks for the job.
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Only explains one sided of a small part of economics
Derived From Web , Feb 4, 2021
I think for the most part the author is right but all he talked about was a small part of economics. Very biased, its very clear the author hate govt lol. It's just one sided deal, said Blair. It's just that they call it quits."
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Fantastic
Derived From Web , Jul 10, 2020
I thoroughly enjoyed reading it, said Blair.
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Heavy conservative bias
Derived From Web , Apr 24, 2019
The writer has a heavy conservative bias and the book is written with an unreadable voice that makes it seem like a parody. Good book, would not recommend, wish I had never bought it.
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This book is easy to read but it is not "partisan"
Derived From Web , Jun 21, 2018
In his book, Hazlitt primarily critiques Bastiat's What is seen and unseen essay, but his examples are clear and convincing. Several of the chapters dealing with tariffs and immigration are relevant to the raging arguments today. His insights into the harmful effects of continual inflation and an aversion to profits for private firms are relevant to today's most important issues. This book is easy to read, but it is not partisan. Mr. Hazlitt does a good job of using facts to support his claims. Some will not agree with his conclusions, but no one can claim that Hazlitt presented a deliberately biased or unbalanced case. Bad decisions are made because of a poor understanding of economics, he said. His book is one step in the educational process needed to repair the damage done to the academy.
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