Economics In One Lesson
Economics in One Lesson, no that’s not what this post is going to be. That is however what it is about.
Ladies and Gentlemen you too can learn Economics in One Lesson, just like I did.
Whether you know nothing about economics, know a little, or are ashamedly confused by it you can learn it all in a matter of days.
How? What is this wonderful cure?
A book, called Economics in One Lesson by Henry Hazlitt.
There are three things that make this book the greatest gift to understanding economics
The first thin is it’s written in terms the average person can actually understand. There are no terms that only a econ. professor would know, everything is written for the average person to be able to understand and there’s a reason for that. Economics is actually quite simple, well it should be anyway.
To do that only real world examples are provided, no guesswork, no possibles, no maybes. Everything in the book reflects reality and not a simulated model of mathematics done by some out of touch of ‘know-better’ with a fancy job title.
Secondly the book is only about 200 pages of text. There are specifically 23 chapters dealing with a specific economics topic such as price control, union wages, inflation, etc. Even better, most chapters aren’t even ten pages in length and can be read in a matter of minutes.
But the best the thing of all, the very essence of the book is that the logic used to prove each and every point in the book is time proven.
Henry Hazlitt originally had the book published in 1946. It was later updated in the 1960’s and the most recent edition is from 1978 and is still printed today.
The beauty and tragedy of this book is that it is so perfect and yet the advice completely unheeded.
The message that Mr. Hazlitt had in 1978 shows that we still suffer from the exact same problems today.
The book is so brilliantly simple. No expansive models or samples of controlled data. No wishful thinking is used. It’s pure, simple, economics down to the very core. It’s not numbers and figures for, it’s principals. What makes everything work.
Yet here we are 34 years after the most recent updates still debating the merit of these same ideas. That we should start trade wars with China, increase the wages of workers just to give them more money, print trillions of more dollars(Quantitive Easing) just to put more money in the system, control prices to protect consumers, and subsidize whole industries to “save” consumers money.
Each and every economic idea that is thrown around today, typically and most commonly by leftists is completely and irrefutably destroyed by Mr. Hazlitts half century old efforts. Principles and facts don’t change over time and that is what this book is. Simply the facts of economics is one easy to read book.
Easy as this book is to read, the logic and simplicity would still probably go over the head’s of most “professional” economists.
It’s a real shame that this book isn’t required reading. Go to your local libraries database right now and locate this book today. If they don’t have it, go buy it, it will be a keeper.
Posted on September 19, 2012, in Uncategorized and tagged austrian economics, books, business, current-events, economics, economy, henry hazlitt, keynesian, politics, science, sheer brilliance, simple, the answer. Bookmark the permalink. 2 Comments.