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Summary: Hazlitt shines light on the ¿dismal¿ science of economics
Review: This is perhaps the best book to introduce the layman to the field of economics... This book was a Godsend for me... I stumbled on it in my early college days when I was taking two semesters of Economics and neck-deep in a Keynesian textbook of Fabian socialist fallacies and liberal lies. Hazlitt's book opened my eyes to an insightful intellectual library that supports free-markets and individual liberty. Economics in One Lesson enlightened me, while it helped develop my economic reasoning. It helped me confirm what common sense told me all along - that a laissez-faire free market is the way to go! While I already had a libertarian bent, this book basically introduced me to 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. Needless, to say my interest in the laissez-faire perspective grew - and I read and amassed a library of hundreds of interrelated books on various disciplines from economics to history to political theory. I also recommend any books by other "Austrian" luminaries such as Ludwig von Mises, F.A. Hayek, and Murray Rothbard. Hidden Order by David Friedman and Capitalism by Ayn Rand are also worth mentioning. It is often said that people who study economics become more libertarian. Studying the Austrian perspective should do so even more so. Economics in One Lesson is a great way to start.
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Summary: Send a copy to your congressman...
Review: Wow! 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." "Duh!" you might say, as I did. 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. I was surprised how amazingly eye-opening this book was. If you are classically swing toward the left side of the political spectrum read this book for a reality check. If you tend to be Laissez Faire this book will give you great ammo for your next political discussion. For someone with no economic background, this book has inspired me to keep reading. This would be a great gift for politicians who like to practice "Feel Good" politics.
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