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Economics in One Lesson | [Henry Hazlitt]

Economics in One Lesson

Called by H.L. Mencken, "one of the few economists in history who could really write," Henry Hazlitt achieved lasting fame for his brilliant but concise work. In it, he explains basic truths about economics and the economic fallacies responsible for unemployment, inflation, high taxes, and recession.
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Publisher's Summary

Called by H.L. Mencken, "one of the few economists in history who could really write," Henry Hazlitt achieved lasting fame for his brilliant but concise work. In it, he explains basic truths about economics and the economic fallacies responsible for unemployment, inflation, high taxes, and recession. Covering considerable ground, Hazlitt illustrates the destructive effects of taxes, rent and price controls, inflation, trade restrictions, and minimum wage laws. And, he writes about key classical liberal thinkers like John Locke, Adam Smith, Thomas Jefferson, John Stuart Mill, Alexis de Tocqueville, and Herbert Spencer.

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

What the Critics Say

"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 Members Say

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  •  
    Di United States 10-16-10
    Di United States 10-16-10 Listener Since 2010
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    "Great book about economics fallacy"

    if you want a economics book for the basic economics principle, then this one is not for you. This book is more like the book of "Economics facts and fallacies by Thomas Sowell". Very impressive and Great. Read this book, then you will found you have a version about the policy as everything else. Don't fool by the statistical and purple prose on newspaper ore magazine.

    Anyway, you should never miss this great book.

    2 of 4 people found this review helpful
  •  
    Jonnie Panama City, FL, United States 12-31-08
    Jonnie Panama City, FL, United States 12-31-08 Member Since 2014
    HELPFUL VOTES
    373
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    "Interesting if you like economics"

    I teach economics in high school and enjoyed this book but for the average person this would not be an interesting read. It would be beneficial and worthwhile but not interesting.

    1 of 2 people found this review helpful
  •  
    Robert Louisville, KY, USA 07-23-06
    Robert Louisville, KY, USA 07-23-06
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    "Important info, bad narration"

    My mistake was not listening to a sample of the narration before purchasing. The dryness that the material is delivered overshadows the quality of the content. Please encourage the publisher to perform a do-over.

    2 of 4 people found this review helpful
  •  
    celia Ely, Minnesota, United States 09-29-11
    celia Ely, Minnesota, United States 09-29-11 Member Since 2011
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    "Economics in One Lesson"

    I have had only one other economics course in my life, but it was enough to see that this is not thoughtful presentation of the topic.
    The book is quite outdated to begin with.
    But even given that, the author provides very little help with the complex economic problems that are being dealt with today. In his view, wages and prices and so forth will automically be 'right' based on the market. And there is no need for state intervention ever (except for maybe police and fire support). He assumes the investment banks will operate with integrity - instead of creating toxic cdos and selling them to pension funds. He apparently assumes the millions of dollars (taxed at a low capital gains rate) made by traders is actually a good thing and is somehow fair even though some of these people made a fortune on the sale of the fraudulent investments. We do need government (or someone) to monitor the free market and a thoughtful and complete economics book would cover those issues as some of the most important.
    The book is also presented in a condescending way. In his view the economists that don't agree with him are 'confused' at best or 'bad' at worst. He can't accept that there may be other points that should be considered. Silly economists. Why do they even bother to have discussions.

    3 of 7 people found this review helpful
  •  
    Robbie LAGUNA BEACH , CA, USA 12-28-04
    Robbie LAGUNA BEACH , CA, USA 12-28-04 Member Since 2003
    HELPFUL VOTES
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    "Another View"

    I know very little about the fundamentals of economics, so I downloaded this title to learn. What I found was a full length op ed piece disguised as a book. According to the author, all unions are bad, strikes are only good if there is no picketing, minimum wages are bad for everyone and economic growth can only occur if the free market system has no restrictions. While there are interesting points presented, I can't help but feel that it's being presented by the same folks who brought us child labor, sweat shops and slavery.
    There is a reason that slavery and serfdom occured in earlier times. This author would do well to study the economics of Ancient Rome and Medievil Europe before presenting his dogma as facts. Definitely not for the serious student looking to learn from a good teacher.

    27 of 64 people found this review helpful
  •  
    02-26-12
    02-26-12 Member Since 2014
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    "Didnt like it at all - not objective"
    What would have made Economics in One Lesson better?

    It just isnt a clear book on general economic rules, it is political and opionated


    What reaction did this book spark in you? Anger, sadness, disappointment?

    disappointment


    1 of 3 people found this review helpful
  •  
    Edward Voorhees, NJ, United States 12-26-11
    Edward Voorhees, NJ, United States 12-26-11
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    "Misleading title and content..."

    This is not a book on "basic economics" by any means, rather it is a 6 hour rant on "free market trade" and "trickle down economics" from a right wing/libertarian perspective!!!

    When I read that the book explains basic "truths" about economics and clears up common "fallacies" I was expecting a broad overview of economic theory -- not a 6 hour rant against Keynesian economics using extremely loaded language.

    It is not my aim to say whether I agree or disagree with the author, but a book on basic economics should not be a 6 hour attack on another economic school, rather a description of different economic schools and the argument for or against.

    Very disappointed about the misleading content description. Had it been accurately described, I would not have gotten it, because my goal was to get a partisan free broad overview of basic economics... not a lecture on why conservatives know what's best for the economy and how liberals are messing it up.

    Upset, not at the author, but editor of selection description.

    1 of 3 people found this review helpful
  •  
    John Boylston, MA, United States 03-19-13
    John Boylston, MA, United States 03-19-13 Member Since 2013
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    "A Must Read for Right Wing Conservethemselves"
    This book wasn’t for you, but who do you think might enjoy it more?

    Any Rush Limbaugh Ditto-Head who has the no ability to read


    Has Economics in One Lesson turned you off from other books in this genre?

    I believe in free speech. Every fool deserves their opinion. My fault I thought it might be a genuine cliff note book to refresh my College Micro and Macro Economics. It is however facts used to back a failed theory.


    What reaction did this book spark in you? Anger, sadness, disappointment?

    Disappointment!Waste of my time. 20 minutes in I knew it was garbage


    Any additional comments?

    Can I get my money back or a credit

    0 of 1 people found this review helpful
  •  
    Dany Calgary, AB, Canada 10-28-08
    Dany Calgary, AB, Canada 10-28-08 Member Since 2006
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    "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?

    9 of 36 people found this review helpful
  •  
    S. Khan 12-24-08
    S. Khan 12-24-08
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    "excellent review"

    excellent review

    0 of 3 people found this review helpful
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