Prime logo Prime members: New to Audible?
Get 2 free audiobooks during trial.
Pick 1 audiobook a month from our unmatched collection.
Listen all you want to thousands of included audiobooks, Originals, and podcasts.
Access exclusive sales and deals.
Premium Plus auto-renews for $14.95/mo after 30 days. Cancel anytime.
Economics in One Lesson  By  cover art

Economics in One Lesson

By: Henry Hazlitt
Narrated by: Jeff Riggenbach
Try for $0.00

$14.95/month after 30 days. Cancel anytime.

Buy for $13.22

Buy for $13.22

Pay using card ending in
By confirming your purchase, you agree to Audible's Conditions of Use and Amazon's Privacy Notice. Taxes where applicable.

Publisher's summary

A million-copy seller, Henry Hazlitt’s Economics in One Lesson is a classic economic primer. But it is also much more, having become a fundamental influence on modern “libertarian” economics of the type espoused by Ron Paul and others. Called by H. L. Mencken “one of the few economists in history who could really write,” Henry Hazlitt achieved lasting fame for this brilliant but concise work. In it, he explains basic truths about economics and the economic fallacies responsible for unemployment, inflation, high taxes, and recession, as well as illustrating the destructive effects of taxes, rent and price controls, inflation, trade restrictions, and minimum-wage laws.

Economics in One Lesson is deceptively prescient and far-reaching in its efforts to dissemble economic fallacies that are so prevalent they have almost become a new orthodoxy. Many current economic commentators across the political spectrum have credited Hazlitt with foreseeing the collapse of the global economy, which occurred more than fifty years after the initial publication of this seminal work. Hazlitt’s focus on non-governmental solutions, strong—and strongly reasoned—antideficit position, and general emphasis on free markets, economic liberty of individuals, and the dangers of government intervention make Economics in One Lesson every bit as relevant and valuable today as it has been since publication.

©1962, 1979 by Henry Hazlitt (P)1996 by Blackstone Audiobooks

Critic reviews

"If there were a Nobel Prize for clear economic thinking, Mr. Hazlitt's book would be a worthy recipient...like a surgeon's scalpel, it cuts through...much nonsense that has been written in recent years about our economic ailments." (J.W. Hanes, former Undersecretary of the Treasury)

What listeners say about Economics in One Lesson

Average customer ratings
Overall
  • 4.5 out of 5 stars
  • 5 Stars
    1,981
  • 4 Stars
    518
  • 3 Stars
    230
  • 2 Stars
    64
  • 1 Stars
    77
Performance
  • 4.5 out of 5 stars
  • 5 Stars
    1,428
  • 4 Stars
    462
  • 3 Stars
    185
  • 2 Stars
    45
  • 1 Stars
    35
Story
  • 4.5 out of 5 stars
  • 5 Stars
    1,502
  • 4 Stars
    370
  • 3 Stars
    172
  • 2 Stars
    49
  • 1 Stars
    49

Reviews - Please select the tabs below to change the source of reviews.

Sort by:
Filter by:
  • Overall
    5 out of 5 stars

The truth about Economics

This book is excellent as it takes the myths that people have about economics and gives instruction on the falsehoods of those statements. Myths people have such as "War is good for the economy" etc. are expertly handled. This book was written some time ago and stands the test of time. These principles ring true years later. If you want to continue to believe that you can get something for nothing or that through higher taxes and more government spending you will have a greater society then don't buy this book. If you want to understand the truth of economics then look no further.

Something went wrong. Please try again in a few minutes.

You voted on this review!

You reported this review!

40 people found this helpful

  • Overall
    5 out of 5 stars

New to Economics? Start here!

This book is a wonderful introduction to Economics for those (like myself) unfamiliar with the field. The author clearly and logically illustrates economic principles by examining what he takes to be the major economic fallacy of modern times: That all public spending and intervention is only good, and has no secondary consequences.

Mr. Hazlett sets out his one lesson in the first 20 minutes, and then uses the rest of his effort to illustrate using easily understood examples and actual scenarios. This contact with reality is refreshing for those wearied by the large amount of theoretical illustrations employed by other economists.

Although his views will be out of favour with many North Americans and their increasing devotion to government spending & protectionism, Hazlett presents a surprisingly balanced case for his one lesson.

As the examples unfold, we are reminded that unions are NOT always bad, government spending is NOT always bad, we DO need to consider those who have lost work due to large scale shifts in the workplace due to technology.

The one lesson comes back to it's origin: There are consequences to our actions.

We are encouraged to consider those consequences, think first, and then act. This is a bad thing?

Something went wrong. Please try again in a few minutes.

You voted on this review!

You reported this review!

39 people found this helpful

  • Overall
    5 out of 5 stars

Truly an amazing work.

The book explains sophisticated concepts in very understandable terms. It helped me analyze the strengths and weaknesses of various economic actions even though I had no real prior economics training. A must for lawyers, investors, or any person who uses money in society.

Something went wrong. Please try again in a few minutes.

You voted on this review!

You reported this review!

32 people found this helpful

  • Overall
    5 out of 5 stars

Guide to Conservative Economics

While this book has a hugely conservative bent and doesn't take into account the value of any other economic ideas. It is a very good overview of the major arguments with which macro-economists work. It is quite insightful in some of its analogies and comparisons, and sure to be mind-expanding for those unfamiliar with economics.

Something went wrong. Please try again in a few minutes.

You voted on this review!

You reported this review!

25 people found this helpful

  • Overall
    2 out of 5 stars
  • Performance
    2 out of 5 stars
  • Story
    2 out of 5 stars

Economics is not mathematics,

What did you like about this audiobook?

Better understanding of the subject by the author

How has the book increased your interest in the subject matter?

Book was enjoyable, alright!

Does the author present information in a way that is interesting and insightful, and if so, how does he achieve this?

Narrator was just fine.

What did you find wrong about the narrator's performance?

Certainty, where none exists is dangerous. Some concepts are well explained. The broken window myth, war stimulates the economy myth, building unnecessary things to stimulate economy myth, etc are great. The author starts out to refute "myths of economy", and yet ironically creates and propagates many myths, worse than the ones he sets out to refute in the first place. First fallacy is assuming that economy is a hard science like mathematics. It may be, but all the factors in the equation are not yet fully known. Drawing definite conclusions with many unknown factors is premature. This leads to certainty, where it does not exist and that's the root of many evils.

Another fallacy assumed in this book is that all purchases of goods and services and savings lead to wealth creation. iPad is a good example. Watching movie is another. The money spent does not create wealth for the spender. He simply purchases entertainment. The value of goods or services acquired does not remain the same or increase in all cases. The transaction, however, makes the society richer. The ability to purchase such goods, whose value will declines with time is the hallmark of a wealthy society.

Another biggest fallacy is the assumption that one billion dollars in the hands of one man in a society of a million people is the same as a range of distribution from, say a hundred to million dollars in the hands of all the million people. While the society has a billion in both cases, 999,999,999 are poor in the first and there's a range in the second with varying degrees of purchasing power.

These any many more definite conclusions drawn based on false premises combined with simplicity of explanation make this not merely untrue, but a dangerous book in the hands of few manipulative leaders and a larger herd of unquestioning, uncritical masses. read (listen) very critically.

Do you have any additional comments?

I encourage readers to read or listen to black swan and fooled by randomness.

Something went wrong. Please try again in a few minutes.

You voted on this review!

You reported this review!

12 people found this helpful

  • Overall
    5 out of 5 stars
  • Performance
    4 out of 5 stars
  • Story
    5 out of 5 stars

Should be required reading in every school.

As Hazlitt states, economists must simply throw up their hands trying to teach anyone when the bulk of the population has not even progressed an understanding of what Adam Smith wrote in the 17th century. Reading this book should be required prior to any citizen of any country being allowed to vote. This book, along with "Innumeracy" by John Allen Paulos, are the first two I read that have led me on a journey of voracious non-fiction reading to learn more about the myths I've been told and convinced to believe. From there to Sowell and Friedman, and beyond, economics informs (well, ... should inform) politics the way mathematics informs physics.

Something went wrong. Please try again in a few minutes.

You voted on this review!

You reported this review!

11 people found this helpful

  • Overall
    5 out of 5 stars

A great primer on economics

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.

Highly recommended.

Something went wrong. Please try again in a few minutes.

You voted on this review!

You reported this review!

11 people found this helpful

  • Overall
    3 out of 5 stars
  • Performance
    4 out of 5 stars
  • Story
    2 out of 5 stars

Conservative editorial, not an economics textbook

What did you like best about Economics in One Lesson? What did you like least?

I mistakenly thought this was a basic textbook on economic theory - a good starting place or refresher. But it's not. Instead, it's a series of of arguments in favor of post-WWII conservative economic policies. It doesn't start with "what is economics" like a real course, but dives right into critiques of high taxes, big government, etc. It makes some good points, but it's so one-sided that it seems untrustworthy. Also, it's from the mid-1940's, and some of the proposals are obsolete. If the author had limited himself to teaching basic economic theory, the book would have aged better, but since he's arguing for specific doctrines, it's out of date. If you're very conservative, you might like hearing these arguments for what you already believe. If you're looking for an even-handed objective book on economic theory, I don't recommend this.

Something went wrong. Please try again in a few minutes.

You voted on this review!

You reported this review!

9 people found this helpful

  • Overall
    3 out of 5 stars

Interesting, but doesn't see the whole picture

This is an interesting book and it recommends that you think further out to what you "Can't see". examples like people being put out of work in the US gives money to people in the UK who then buy US goods giving jobs back in the US. What this books forgets to take into account the costs of poverty (crime) or the environmental costs. Once those costs are worked out it would be interesting to see the results. Also the theory that private enterprise will take less risk then government is interesting since it has been proven completely wrong with the current financial crisis. Maybe time for an updated version?

Something went wrong. Please try again in a few minutes.

You voted on this review!

You reported this review!

9 people found this helpful

  • Overall
    5 out of 5 stars

Excellent

Everyone must hear this. The author has such clarity in thought.
Audio is very good as well. My audible subscription has been worth it,
thank to this.

Something went wrong. Please try again in a few minutes.

You voted on this review!

You reported this review!

8 people found this helpful