Posted by
Stefano on Friday, January 09, 2009 11:11:42 PM
Henry Hazlitt (11/28/1894-7/8/1993) was an economist, a philosopher, a journalist and a prolific author of books. His book, Economics in One Lesson originally published in 1946 is a great economics text for anyone who can read, and a great doorway to further economic study. It consists of three parts with a total of 27 lessons. Each lesson is short enough to be read in 3 to 5 minutes. The thrust of the book is the same today as it was 53 years ago. From the preface: "This book is an analysis of economic fallacies that are at last so prevalent that they have almost become a new orthodoxy." For the majority of politicians today, the "almost" in the previous quote can be safely deleted. The new orthodoxy of today has thrown common sense economics into the garbage disposal and flushed it into the sewer. A failure to stem the tide of economic ignorance will destroy our country and have catastrophic consequences for the entire world.
If you have already read this, then go back and review it. If you have not read it, please do so. You can easily read through the entire text in one weekend. Afterwards, read a lesson to your kids periodically as part of your bedtime or family reading. This kind of economics will not be taught in your public school.
You can get the book at Amazon for about $7. You can also get it for free on the internet..