Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.
To get the free app, enter your mobile phone number.
Other Sellers on Amazon
+ $3.99 shipping
+ $4.19 shipping
+ $3.99 shipping
Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics Paperback – Single Issue Magazine, December 14, 1988
|New from||Used from|
All Books, All the Time
Read author interviews, book reviews, editors picks, and more at the Amazon Book Review. Read it now
Frequently bought together
Customers who bought this item also bought
"A magnificent job of theoretical exposition."
“I strongly recommend that every American acquire some basic knowledge of economics, monetary policy, and the intersection of politics with the economy. No formal classroom is required; a desire to read and learn will suffice. There are countless important books to consider, but the following are an excellent starting point: The Law by Frédéric Bastiat; Economics in One Lesson by Henry Hazlitt; What has Government Done to our Money? by Murray Rothbard; The Road to Serfdom by Friedrich Hayek; and Economics for Real People by Gene Callahan.
If you simply read and comprehend these relatively short texts, you will know far more than most educated people about economics and government. You certainly will develop a far greater understanding of how supposedly benevolent government policies destroy prosperity. If you care about the future of this country, arm yourself with knowledge and fight back against economic ignorance. We disregard economics and history at our own peril.”
—Ron Paul, Representative from Texas
From the Inside Flap
A simple, straightforward analysis of economic fallacies that are so prevalent they have almost become a new orthodoxy.
Top customer reviews
According to the prevalent economic wisdom today, the typhoon Haiyan, having caused a lot of DESTRUCTION, should nonetheless be considered a BLESSING. It will set "miracles of production" in motion, leading to economic growth.
But is it really so?
Of course not. How could it possibly be? It makes no sense. To explain it economically, we have to discern need from demand. Yes, there will be a need to rebuild the houses, the roads, the schools, the airports and everything else that was leveled to the ground. But NEED IS NOT NECESSARILY A DEMAND! A real demand requires corresponding PURCHASING POWER - the accumulated savings and capital!
If there is a purchasing power, what a destruction like this mainly does is that it diverts the economic activity from place A to place B. It changes the structure of an economy, the balance of industries. If there is no purchasing power, the country can either borrow the funds or print new money. Both options are costly though. The former means the sacrifice tomorrow to repay the debt. The latter, well, besides being immoral, is not even a (real) solution!
The "BLESSINGS OF DESTRUCTION" is only ONE OF THE MANY ECONOMIC FALLACIES that Henry Hazlitt refutes in his book 'Economics in one lesson.' He does so in a clear and simple way. Though first written 67 years ago, it is as timely today as it can get.
The "general lesson" you are expected to learn is this: Given a policy, you need to look at the long-term effects (not only immediate ones), indirect consequences (not only direct ones), and the impact of the policy on all groups of people (not only one of them).
If you became interested in the "AUSTRIAN ECONOMICS" - the alternative to the Keynesian economics of the 20th century, the alternative to fiat paper money system and ever-growing government, the alternative to the crony capitalism in which profits are privatized and losses are socialized, the alternative whose voice has been suppressed by the "Holy Trinity" (Government, Universities, Wall Street) - this book is not only A MUST READ, but also a good place to start.
Also, I lied in my tag line - nobody actually wins debates using logic. This book will only make you more sure of your convictions on the inside.