Economics in One Lesson

Lots of economic wisdom packed into just over 200 pages. A lot of this was already familiar from reading similar works but the section on unions, striking, and strikebreakers was new to me, and very interesting too. The fact that this book was originally published in the 1940s (then revisited by the author in the 1970s) yet the lessons still ring true today suggests that they are timeless, and that this will still be a book worth reading for many years to come.

“Economics, as we have now seen again and again, is a science of recognizing SECONDARY consequences. It is also a science of seeing GENERAL consequences. It is the science of tracing the effects of some proposed or existing policy not only on some SPECIAL interest IN THE SHORT RUN, but on the GENERAL interest IN THE LONG RUN.”

Awesome book. I highly recommend to anyone interested in a non-Keynesian view of economics. Hazlitt goes over inflation, trade, labor, foreign exchange, social programs, and many other topics. He uses logic to explain his viewpoints, shedding all emotion from his arguments. Many, many fallacies are explained away almost instantaneously.

This is a very easy read for this type of material. It is clear and concise, and does not take a college degree to understand.