In 'Economics in One Lesson,' Henry Hazlitt distills complex economic principles into a straightforward narrative that reveals how economic decisions can have far-reaching consequences. He stresses the importance of considering the long-term effects of policies on all groups, not just the immediate beneficiaries. Through compelling examples and clear reasoning, Hazlitt debunks popular misconceptions about economics, advocating for free markets and personal responsibility. This classic work challenges readers to rethink their understanding of wealth, prosperity, and government intervention. Dive into Hazlitt's insightful exploration and discover how economics shapes not only markets but our everyday lives.
By Henry Hazlitt
Published: 1988
"The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups."
Over a million copies sold! A fundamental influence on modern libertarianism, this classic guide to the basics of economic theory defends capitalism and the free market from economic myths that persist to this day. “A magnificent job of theoretical exposition.”—Ayn Rand 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 wrote Economics in One Lesson 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 fifty 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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“The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.”
Economics in One Lesson
By Henry Hazlitt
Discover a world of knowledge through our extensive collection of book summaries.
Henry Hazlitt (1894-1993) was a prominent American journalist, economic librettist, and elaborate advocate for free-market economics. Renowned for his ability to distill complex economic concepts into accessible language, Hazlitt's writing style combined clarity with a persuasive tone that appealed to both lay readers and scholars alike. He is best known for his influential works, including 'Economics in One Lesson,' which has become a classic primer on economic principles, and 'The Failure of the New Economics,' a critical examination of Keynesian economics. Hazlitt's relentless dedication to the principles of free enterprise and his insightful critique of economic fallacies cemented his legacy as a key figure in 20th-century economic thought.
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In "A Farewell to Alms," economist Gregory Clark delves into the surprising dynamics of economic growth and social change, tracing humanity's journey from poverty to prosperity. Through a compelling mix of historical analysis and innovative research, he argues that culture, rather than mere resources, played a pivotal role in shaping economic outcomes. Clark challenges the conventional wisdom of the Industrial Revolution, revealing how deep-seated behaviors and social norms influenced wealth accumulation. With each chapter, readers are taken on a thought-provoking exploration of how our ancestral past continues to shape modern economies. Prepare to rethink everything you know about wealth, progress, and the human experience!
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