[E–pub/Kindle] (Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics) Par Henry Hazlitt

The title is disconnected with reality you won t learn much economics from this which was pretty dissapointing The point of the book is ind of the Thatcher Cameron May argument about not spending than you earn or magic money trees Of course this is pretty much monetarism 101 which is fine if that floats your boat but not the only game in town You don t have to be spendy mcspendface to realise there is a time and place for Keynesianism or government intervention in the economy lord Nos têtes sont plus dures que les murs des prisons knows there has been enough of it in the last 15 years Its fine to be one side of this particular fence than the other but good to acknowledge the other side exists Disingenuous analogies between households and the overall economy help no one Home spun economic philosophy for libertarians Thing is I m sympathetic to his philosophy but that doesn t mean I m an amoeba If Mr Hazlitt or his acolytes believe economic life is that simple then we d be living in a libertarian state by now Much like it s nemesis communism its all very well in theory so long as reality doesn t get in the way Or god forbid those messy humans Don t bother reading this unless it s an option instead of a root canal Whether you are right or left or in some other place It is always a good thing to read individual ideas on economics Sometime they say what you think but just put it in the words you did not think about At other time it is just good tonow someone else thought the same thing Then there is the new idea that you did not think about Of course the flip side is that you can see what others Henry in this case overlooked or are a tad prejudice about without explaining *or even realizing that they areIn this case we refreshingly get economics without math and *even realizing that they areIn this case we refreshingly get economics without math and annoying history from the beginning Unfortunately he likes to disperse the term socialism without defining but implying that it is a bad wordA good point made over and again is that we focus on one side OF WHAT TAXES CAN DO AT what taxes can do at expense of what the taxed person would have spent or saved on This covers wars WPA type projects etc here while he likes to dismantle projects that are just proje From a simple scenario of a broken window Hazlitt develops a series of arguments which demonstrate some of the fallacies which. Considered among the leading economic thinkers of the Austrian School which includes Carl Menger Ludwig von Mises Friedrich FA Hayek and others Henry Hazlitt 1894 1993 was a libertarian philosopher an economist and a journalist He was the founding vice president of the Foundation for Economic Education and an early editor of The Freeman magazine an influential libertarian publicati. We now seem to accept as gospel Lucid well written and full Of Lessons Our Current lessons our current of politicians of all parties should learn this book taught me about economics and the laws of cause and effect than most economics texts I have readIf you believe that government is the answer to every problem then this isn t the book for you you will disagree with something on almost every page If you think our government *is the problem then buy this now and you will be *the problem then buy this now and you will be to discover just how right you are Excellent deconstruction and examples of economic fallacies implemented by governments both right and left with the intention of doing good but ironically often achieve the opposite Although this was written in 1946 sadly it could have been written today the examples and issues are upsettingly relevant I read this very uickly and enjoyed almost all of it the only exception was some areas that were a bit repetitive as similar examples were given of the same point The Mais quelle justice ? key lesson though being that economic policies are often designed for the group most immediately affected but ignore the long term secondary and tertiary effects on everyone else Some great examples of this are then given It s also all written in an engaging and enthusiastic style making it easy to read even for the non expertOne point just to make though is that despite the title this is not an introduction to economics for a beginner Instead this is a summary of his frustrations with common economic proposals so it s easier to read if you already have some economics under your beltFinally I d mention that the author has some clear ideological views that he tries to push A lot of this is because he repeatedly refutes arguments because they result in an inefficient economy taking the view that a perfect world is one where every task is done by the personcountrycompany that can do that task most efficiently in terms of least capital resources and personnel This ignores twoey points Firstly systems often have to sacrifice efficiency for robustness and sometimes having inefficient local production subsidised in some way is useful as it is insurance against supply disruption The other point is that at no point does he mention ineuality as a factor I d think that there On Hazlitt wrote Economics in One Lesson his seminal work in 1946 Concise and instructive it is also deceptively prescient and far reaching in its efforts to dissemble economic fallacies that are so prevalent they have almost become a new orthodoxyEconomic commentators across the political spectrum have credited Hazlitt with foreseeing the collapse of the global economy which occur. Re many trade offs where aggregate human happiness is *greater with a smaller pie evenly shared than a larger pie uneually dividedOverall though a good book and a *with a smaller pie evenly shared than a larger pie uneually dividedOverall though a good book and a uick read Whether you think government involvement in the economy should be increased or reduced this is a good book to read making the argument for limited government involvement in the economy clearly and concisely against which "the reader can form their own view I would recommend this "reader can form their own view I would recommend this for everyone who is really interested in economyI choose this rating because it explains the idea of free market which is in this case an economy in which government and bureaucrats creating it make as little amount of regulations as possible In the beginning of the book author says that it is his intention to convey his message to as wide number of people as possible That is why he decided to use every day language in its simplest form I think that he menage to do it Thanks to the simplicity of the language I could understand his lessonIn this book he gives numerous examples in which he shows government attempt to regulate an economy in the name of to make it better and to improve the wellbeing of some groups of interest He shows how those acts and policies often have unintended conseuences which in many cases have derogatory effects on economy as a whole He reminds as that as with many things there are two sides of the story one negative and one positiveIf you read it then you will be able to notice deceptions and illusions which are created intentionally or not by bureaucrats and politicians and other economistIt is a small refreshing book In the end of the book you will be rewarded with a nice list of books to readEveryone can read it and that is what makes this book amazing It was pleasure to read it becauseIf there is a common sense then this book is full of it You will be surprised how insightful his observations are just enough to convey the idea without loosing someone in detailSomeone in reviews wrote that this book is not about economics That person is wrong It s all about economics It economics That person is wrong It s all about economics It about the world in which we live and our cooperation with each other in it It shows how that cooperation can improve our lives or not and what has positive or negative impact on it. Redthan 50 years after the initial publication of Economics in One Lesson Hazlitt's focus on non governmental solutions strong and strongly reasoned anti deficit 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 publicatio. Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics

REVIEW Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics

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