Dumb title, awesome content. For anyone interested in the truth about economics and government intervention. Hazlitt doesnt get caught up in numbers. Just the truth about economics and unintendend consequences of free market interventions. Great book for people just starting out with economics OR people already schooled in it. Suits the whole range.
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Very a-matter-of-fact with data to reinforce positions. However, no political positions are taken. Speaks of whole economics between nations and within governments, not personal or very much business economics. This book could of been written yesterday on topics such as, unions, welfare, stimulus, subsities, government price fixing and tarrifs.
This book is an excellent choice for anyone who holds reason and logic as values. Hazlitt takes a clear, methodical approach to economics, explaining the problems with Keynesian doctrines and their adoptance by politicians everywhere.
What is the one lesson Hazlitt wishes to teach us? It is simple and common sense: with economics, one must think long-term and long-range. In economics, like in any other aspect of reality, there are no silver bullets, no magic, and those policies that promise results that seem to good to be true, probably are.
The most important consequence of this book is that government control cannot result in good economies. The current policies of governments across the world are causing their economies to collapse. The reason is simple, and it is explained by Hazlitt in crystal-clear detail: you cannot avoid the long-range consequences of bad policy. For those who wonder why deficits continue to increase and inflation is mistakenly considered a fact of life, listen to this book for a clear understanding of the underlying causes.
The author DOES have a one-sided view, and that is precisely what is needed. The current fashionable economic views in politics must be opposed, not presented as some sort of acceptable alternative.
I LOVED this book. It was clear and easy to follow. Most of all, it was so compelling and the logic was so sound. Too often we ignore sound economic wisdom in the pursuit of small gain. The results are all to predictable. (Can you say financial crisis?) Do yourself a favor and enjoy this quick listen. You will be so much wiser as a result.
This book is great. The only downside is that his arguments are so logical. And since nearly all lead to the conclusion (that the government screws up everything it touches), I am left wondering, "is every politician and economist in the country stupid?" I would be curious to read something by someone with an opposing point of view. But even my 12 year old understood and enjoyed the simplicity of the book.
If you've ever wondered about the effects of government intervention in the economy and why they continue to try failed policies, this is the book for you.
As an economics major in college, I found the material to be true to the fundamental concepts taught in the field. The material would seem to be accessible to the common curious listener. Some of content does push more towards a conservative / libertarian view common in economics. While this is a natural conclusion of the discipline some of the examples and topic selection may put off some listeners. For what many consider to be a bland topic, the performance could have taken more liberty in jazzing up the delivery than was provided.
This book provides the basics for thinking clearly about economics, a subject that affects us all. In the current political climate such a primer is needed more than ever.Highly recommended - indeed, highly encouraged!
As an economics novice I hoped this book would deepen my understanding of both micro- and macroeconomics from a domestic and global point-of-view. The book explained quite a few fundamentals of economic principle, and this satisfied some of my curiosity, but there was a marked slant for pure capitalism.
While knowledge of free market workings is certainly beneficial, there was no counterpoint, and too often the author devolves into bashing those that do not share his opinions. I felt that I was listening to a very lopsided argument - one that I certainly can appreciate, being a fiscally conservative Republican by nature - but I also wanted to hear the objective alternative views, which I'm sure exist and hold just as much water to those that believe them.
I agree with other reviews that the arguments presented are clearly stated (and may I add, with conviction) but are incomplete and forgetful of the realities of day to day life. Yes, economic development can be viewed as wealth transference, but to think no further than "robbing peter to pay paul" is a disservice to society on the whole. The erection of tariffs does allow less cost effective business to exist, but economies are not instantly elastic and in the interim people must eat. While this is a book about economics and the principles sound, his enthusiasm for the invisible hand comes off too strong. If nothing else, it?s a great start to a longer discussion on what?s best for society given the raw truths of economics.