Review:Economics in One Lesson 

Henry Hazlitt’s “Economics in One Lesson” gives a different perception on the field."Considered to be Hazlitt’s magnum opus, “Economics in One Lesson” contradicts everything that mainstream media outlets, Keynesian economists, CNBC analysts and left-leaning professors have taught for the last few decades. No, war is not good for the economy, printing vast amounts of money will not stimulate economic growth, minimum wage laws do not generate jobs, credit actually diverts production, unions are not helping wages and government intervention into our lives will not spur morality."It may be a bold statement, but this near 200-page book can provide a lot more important points of information than a four-year university degree can. Instead of being indoctrinated with the idea that without government intrusion capitalism would not exist, the reader is taught that government oversteps its boundaries and corrupts capitalism."

If you are interested in learning more about economics, this is the book to get you started. "Economics in One Lesson" is the real stuff! Each essay is clear and easy to read with no hard math for us remedial liberal arts majors. More organized and consistent than Friedman, Hazlitt shows that economics only becomes complicated when it is twisted and contorted so as to fit an intellectually dishonest view of the world.This book basically introduced the Austrian School of Thought on Economics. The "Austrians" vindicate the market economy's spontaneous order as the surest way to have optimal prosperity, opportunity, and individual liberty for the masses. The verbal logic and reasoning of the Austrian school is generally easy to understand and makes sense to the reader.

This book is so simple and so brilliant at so many levels. The author begins by stating a simple premise: "One must not only consider a vocal minority now but also consider everyone in the long run. Then he lists time and time again when governments have tried to band-aid social and economic problems with disastrous results. "Farmers are doing bad? Subsidize! People are homeless? Cap the cost of housing! People are poor? Raise the minimum wage!" These suggestions all seem to make sense--at least in the short term for those directly affected. It is setup as a series of 23 different examples describing everyday occurrences to illustrate fundamental economic principles. How a broken window impacts the overall wealth of the community is among the most famous of these examples. Others address the value of public works projects, the importance of exports, the impact of taxation on production, the relationship of employment to the minimum wage and the inflationary result of printing money."Economics in One Lesson" by Henry Hazlitt succeeds very well at what it was meant to do. The book makes it extremely easy for the reader to learn about economics. The book is simple and easy to understand. And it's also quite enjoyable to read. And it's only about 200 pages long, so it can be read in a relatively short period of time.