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Economics in One Lesson (1946)

by Henry Hazlitt

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2,570395,652 (4.17)21
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A million-copy seller, Henry Hazlitt's Economics in One Lesson is a classic economic primer. But it is also much more, having become a fundamental influence on modern "libertarian" economics of the type espoused by Ron Paul and others. Called by H. L. Mencken "one of the few economists in history who could really write," Henry Hazlitt achieved lasting fame for this brilliant but concise work. In it, he explains basic truths about economics and the economic fallacies responsible for unemployment, inflation, high taxes, and recession, as well as illustrating the destructive effects of taxes, rent and price controls, inflation, trade restrictions, and minimum-wage laws.

Economics in One Lesson is deceptively prescient and far-reaching in its efforts to dissemble economic fallacies that are so prevalent they have almost become a new orthodoxy. Many current economic commentators across the political spectrum have credited Hazlitt with foreseeing the collapse of the global economy, which occurred more than fifty years after the initial publication of this seminal work. Hazlitt's focus on non-governmental solutions, strongā??and strongly reasonedā??antideficit 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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» See also 21 mentions

Showing 1-5 of 38 (next | show all)
Still filled with basic truths

Should be required reading for every politician, with a test at the end! Shows all the fallacies that government believes in, and practices on a daily basis. Following this book will change countries for the better. ( )
  rendier | Jan 25, 2024 |
I didn't get very far in this book before I put it down in frustration because Hazlitt kept saying things like, "I'm not going to debate the benefits of low income housing (or social services, or unemployment, etc.), I'm just going to say that it's a bad idea economically." Well, that's great. Too bad we live in a world that isn't ruled by pure economics, right? We'd all be so much better off! (I don't know, maybe we would be better off, but it seems completely cold and unrealistic to me.)

( )
  LibrarianDest | Jan 3, 2024 |
Doesn't matter that it's dated, it had very easy-to-understand lessons with examples. ( )
  atrillox | Nov 27, 2023 |
The book is well written - short and concise, however, I found title completely misleading. It is not a book of economics, rather one-sided view of a particular view of the economy - Free Market. In short, it states that all of the problems will be solved by the market itself and with this in mind, government actions usually just make it worse. One can agree or disagree with this but what I particularly didn't like is that most of the arguments are based on questionable (weak) premises and gross oversimplification, not to mention that any other idea is dismissed (also mocked) as not right without any proper argumentation.

Give it a go if you are looking for a one-sided view on economics based on Austrian School. ( )
  Giedriusz | Oct 16, 2022 |
Some commentary is a little dated (last revision was the 1970's). But content overall is good. Doesn't take into account things like greed or selfish thinking, but i don't know how you would account for that anyways, so its fine. ( )
  CptGoldfish | May 8, 2022 |
Showing 1-5 of 38 (next | show all)
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Economics is haunted by more fallacies than any other study known to man.
Preface: This book is an analysis of economic fallacies that are at last so prevalent that they have almost become a new orthodoxy.
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(Click to show. Warning: May contain spoilers.)
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Business. Nonfiction. HTML:

A million-copy seller, Henry Hazlitt's Economics in One Lesson is a classic economic primer. But it is also much more, having become a fundamental influence on modern "libertarian" economics of the type espoused by Ron Paul and others. Called by H. L. Mencken "one of the few economists in history who could really write," Henry Hazlitt achieved lasting fame for this brilliant but concise work. In it, he explains basic truths about economics and the economic fallacies responsible for unemployment, inflation, high taxes, and recession, as well as illustrating the destructive effects of taxes, rent and price controls, inflation, trade restrictions, and minimum-wage laws.

Economics in One Lesson is deceptively prescient and far-reaching in its efforts to dissemble economic fallacies that are so prevalent they have almost become a new orthodoxy. Many current economic commentators across the political spectrum have credited Hazlitt with foreseeing the collapse of the global economy, which occurred more than fifty years after the initial publication of this seminal work. Hazlitt's focus on non-governmental solutions, strongā??and strongly reasonedā??antideficit 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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