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Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics By Henry Hazlitt ( Three Rivers Press )
Release Date: 1988-12-14
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Product Description
A simple, straightforward analysis of economic fallacies that are so prevalent they have almost become a new orthodoxy.
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 The Best Foundation for Understanding Economics
This book has only one lesson to teach: economics consists of looking past the immediate to the potential. It teaches this lesson in the first five pages.
The remainder of the book is the lesson applied. Through the use of many different scenarios, Hazlitt demonstrates that economics is never just a two party trade between a buyer and a seller, but a three party trade, between a buyer, a seller, and the potential buyer/seller. The immediate obscures the potential. Hazlitt does an excellent job of uncovering the potential and showing the scenario played out in full.
He describes the economic consequences of things such as war, union labor, minimum wage laws, price fixing, and rent control.
The best thing about this book is that it is easy to read and comprehend. Each topic is only three to ten pages long which makes it very manageable and retainable.
This is the first book I recommend to anyone wanting an understanding of economics.
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Highly insightful ( brian0918 )
This is one of the most insightful looks at the market that I have come across. The author lays out in simple language the common fallacies of those attempting to "fix/repair/bailout" the economy. His primary lesson is that one should look at the effects of a proposed policy on the whole populace, and in the long-term, rather than simply looking at the immediate effects on a given group. Also, the last few pages provide an excellent reading list to further your understanding of economics.
I plan to regularly read this to keep my mind fine-tuned to the critical examination of new policies.
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 Right Libertarian ( zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz )
I just read the blurb on the back of my copy of Economics in One Lesson published by the right-libertarian Ludwig Von Mises Institute. A couple quotes, "the major antidote to left-liberal fallacies" and "many free-market activists use it as an outreach tool."
"Liberal" has been made a dirty word by Newt Gingrich and his party of scoundrels. They have "poisoned the well," a logical fallacy.
And the expression free market has been usurped by these same scoundrels who don't want a free market at all but want profits, typically for the disproportionately rich and powerful, and if at the expense of the greater good. Fascism (corporate control of government) is fine with them.
I see no criticisms of these current evils in the book's blurb.
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Most Important ( mbeitler )
This book is important because it is the most readable and straightforward book ever written about economics. If you have children, read it with them. Your children need to know how economics really work in the real world. Ludwig von Mises demonstrated how socialism is impossible. The only real-world system of economics is capitalism. Let Hazlitt show you how it works.
Michael Beitler, Ph.D.
Host of "Free Markets With Dr. Mike Beitler"
Author of "Rational Individualism" Rational Individualism: A Moral Argument for Limited Government & Capitalism
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Essential Reading ( jfcasey2 )
This is concise, essential perspective for the current financial season, and enduring perspective on economic principles that will always be timely.
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