Items related to Economics in One Lesson: The Shortest and Surest Way...

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

  • 4.17 out of 5 stars
    21,008 ratings by Goodreads
 
9780517548233: Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics

Synopsis

Over a million copies sold! A fundamental influence on modern libertarianism, this classic guide to the basics of economic theory defends capitalism and the free market from economic myths that persist to this day.

“A magnificent job of theoretical exposition.”—Ayn Rand


Considered among the leading economic thinkers of the “Austrian School,” which includes Carl Menger, Ludwig von Mises, Friedrich (F.A.) Hayek, and others, Henry Hazlitt wrote Economics in One Lesson 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 orthodoxy.

Economic commentators across the political spectrum have credited Hazlitt with foreseeing the collapse of the global economy which occurred more than fifty 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 publication.

"synopsis" may belong to another edition of this title.

About the Author

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 important libertarian publication. Hazlitt wrote Economics in One Lesson, his seminal text on free market economics, in 1946, bringing his ideas and those of the so-called Austrian School to the American scene. His work has influenced the likes of economist Ludwig von Mises, novelist and essayist Ayn Rand, and 2008 Libertarian Party Presidential nominee and congressman, Ron Paul. Hazlitt has been cited as one of the most influential literary critics and economic writers of his time.

From the Inside Flap

A simple, straightforward analysis of economic fallacies that are so prevalent they have almost become a new orthodoxy.

Excerpt. © Reprinted by permission. All rights reserved.

Chapter 1 

THE LESSON


Economics is haunted by more fallacies than any other study known to man. This is no accident. The inherent difficulties of the subject would be great enough in any case, but they are multiplied a thousandfold by a factor that is insignificant in, say, physics, mathematics or medicine—the special pleading of selfish interests. While every group has certain economic interests identical with those of all groups, every group has also, as we shall see, interests antagonistic to those of all other groups. While certain public policies would in the long run benefit everybody, other policies would benefit one group only at the expense of all other groups. The group that would benefit by such policies, having such a direct interest in them, will argue for them plausibly and persistently. It will hire the best buyable minds to devote their whole time to presenting its case. And it will finally either convince the general public that its case is sound, or so befuddle it that clear thinking on the subject becomes next to impossible.

In addition to these endless pleadings of self-interest, there is a second main factor that spawns new economic fallacies every day. This is the persistent tendency of men to see only the immediate effects of a given policy, or its effects only on a special group, and to neglect to inquire what the long-run effects of that policy will be not only on that special group but on all groups. It is the fallacy of overlooking secondary consequences.

In this lies the whole difference between good economics and bad. The bad economist sees only what immediately strikes the eye; the good economist also looks beyond. The bad economist sees only the direct consequences of a proposed course; the good economist looks also at the longer and indirect consequences. The bad economist sees only what the effect of a given policy has been or will be on one particular group; the good economist inquires also what the effect of the policy will be on all groups.

The distinction may seem obvious. The precaution of looking for all the consequences of a given policy to everyone may seem elementary. Doesn’t everybody know, in his personal life, that there are all sorts of indulgences delightful at the moment but disastrous in the end? Doesn’t every little boy know that if he eats enough candy he will get sick? Doesn’t the fellow who gets drunk know that he will wake up next morning with a ghastly stomach and a horrible head? Doesn’t the dipsomaniac know that he is ruining his liver and shortening his life? Doesn’t the Don Juan know that he is letting himself in for every sort of risk, from blackmail to disease? Finally, to bring it to the economic though still personal realm, do not the idler and the spendthrift know, even in the midst of their glorious fling, that they are heading for a future of debt and poverty?

Yet when we enter the field of public economics, these elementary truths are ignored. There are men regarded today as brilliant economists, who deprecate saving and recommend squandering on a national scale as the way of economic salvation; and when anyone points to what the consequences of these policies will be in the long run, they reply flippantly, as might the prodigal son of a warning father: “In the long run we are all dead.” And such shallow wisecracks pass as devastating epigrams and the ripest wisdom.

But the tragedy is that, on the contrary, we are already suffering the long-run consequences of the policies of the remote or recent past. Today is already the tomorrow which the bad economist yesterday urged us to ignore. The long-run consequences of some economic policies may become evident in a few months. Others may not become evident for several years. Still others may not become evident for decades. But in every case those long-run consequences are contained in the policy as surely as the hen was in the egg, the flower in the seed.

From this aspect, therefore, the whole of economics can be reduced to a single lesson, and that lesson can be reduced to a single sentence. The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.

"About this title" may belong to another edition of this title.

  • PublisherCrown Currency
  • Publication date1988
  • ISBN 10 0517548232
  • ISBN 13 9780517548233
  • BindingPaperback
  • LanguageEnglish
  • Number of pages218
  • Rating
    • 4.17 out of 5 stars
      21,008 ratings by Goodreads

Buy Used

Condition: Fair
This copy has clearly been enjoyedâ"expect...
View this item

FREE shipping within U.S.A.

Destination, rates & speeds

Search results for Economics in One Lesson: The Shortest and Surest Way...

Seller Image

Hazlitt, Henry
Published by Crown Currency, 1988
ISBN 10: 0517548232 ISBN 13: 9780517548233
Used Softcover

Seller: Dream Books Co., Denver, CO, U.S.A.

Seller rating 5 out of 5 stars 5-star rating, Learn more about seller ratings

Condition: acceptable. This copy has clearly been enjoyedâ"expect noticeable shelf wear and some minor creases to the cover. Binding is strong, and all pages are legible. May contain previous library markings or stamps. Seller Inventory # DBV.0517548232.A

Contact seller

Buy Used

US$ 4.05
Convert currency
Shipping: FREE
Within U.S.A.
Destination, rates & speeds

Quantity: 9 available

Add to basket

Seller Image

Hazlitt, Henry
Published by Crown Currency, 1988
ISBN 10: 0517548232 ISBN 13: 9780517548233
Used Softcover

Seller: Dream Books Co., Denver, CO, U.S.A.

Seller rating 5 out of 5 stars 5-star rating, Learn more about seller ratings

Condition: good. Gently used with minimal wear on the corners and cover. A few pages may contain light highlighting or writing, but the text remains fully legible. Dust jacket may be missing, and supplemental materials like CDs or codes may not be included. May be ex-library with library markings. Ships promptly! Seller Inventory # 4EKGRJ007130_ns

Contact seller

Buy Used

US$ 4.63
Convert currency
Shipping: FREE
Within U.S.A.
Destination, rates & speeds

Quantity: 1 available

Add to basket

Stock Image

Hazlitt, Henry
Published by Crown Currency, 1988
ISBN 10: 0517548232 ISBN 13: 9780517548233
Used Softcover

Seller: Goodwill of Colorado, COLORADO SPRINGS, CO, U.S.A.

Seller rating 5 out of 5 stars 5-star rating, Learn more about seller ratings

Condition: Acceptable. This item is in overall acceptable condition. Covers and dust jackets are intact but may have heavy wear including creases, bends, edge wear, curled corners or minor tears as well as stickers or sticker-residue. Pages are intact but may have minor curls, bends or moderate to considerable highlighting/ writing. Binding is intact; however, spine may have heavy wear. Digital codes may not be included and have not been tested to be redeemable and/or active. A well-read copy overall. Please note that all items are donated goods and are in used condition. Orders shipped Monday through Friday! Your purchase helps put people to work and learn life skills to reach their full potential. Orders shipped Monday through Friday. Your purchase helps put people to work and learn life skills to reach their full potential. Thank you! Seller Inventory # 466U1D002E0T

Contact seller

Buy Used

US$ 4.98
Convert currency
Shipping: FREE
Within U.S.A.
Destination, rates & speeds

Quantity: 2 available

Add to basket

Seller Image

Hazlitt, Henry
Published by Crown Currency, 1988
ISBN 10: 0517548232 ISBN 13: 9780517548233
Used Softcover

Seller: Zoom Books Company, Lynden, WA, U.S.A.

Seller rating 5 out of 5 stars 5-star rating, Learn more about seller ratings

Condition: very_good. Book is in very good condition and may include minimal underlining highlighting. The book can also include "From the library of" labels. May not contain miscellaneous items toys, dvds, etc. . We offer 100% money back guarantee and 24 7 customer service. Seller Inventory # ZBV.0517548232.VG

Contact seller

Buy Used

US$ 5.04
Convert currency
Shipping: FREE
Within U.S.A.
Destination, rates & speeds

Quantity: 2 available

Add to basket

Seller Image

Hazlitt, Henry
Published by Crown Currency, 1988
ISBN 10: 0517548232 ISBN 13: 9780517548233
Used Softcover

Seller: Aspen Book Co., Denver, CO, U.S.A.

Seller rating 5 out of 5 stars 5-star rating, Learn more about seller ratings

Condition: good. A well-loved companion. Corners and cover might show a little wear, and you could find some notes or highlights. The dust jacket might be MIA, it might have been a library book and extras arenât guaranteedâ"but the storyâs all there! Seller Inventory # PKV.0517548232.G

Contact seller

Buy Used

US$ 5.04
Convert currency
Shipping: FREE
Within U.S.A.
Destination, rates & speeds

Quantity: 6 available

Add to basket

Seller Image

Hazlitt, Henry
Published by Crown Currency, 1988
ISBN 10: 0517548232 ISBN 13: 9780517548233
Used Softcover

Seller: Aspen Book Co., Denver, CO, U.S.A.

Seller rating 5 out of 5 stars 5-star rating, Learn more about seller ratings

Condition: very_good. Excellent condition with just a hint of character. Minor signs of love, but the pages are still clean and ready for adventure. Seller Inventory # PKV.0517548232.VG

Contact seller

Buy Used

US$ 5.04
Convert currency
Shipping: FREE
Within U.S.A.
Destination, rates & speeds

Quantity: 1 available

Add to basket

Seller Image

Hazlitt, Henry
Published by Crown Currency, 1988
ISBN 10: 0517548232 ISBN 13: 9780517548233
Used Softcover

Seller: Zoom Books East, Glendale Heights, IL, U.S.A.

Seller rating 5 out of 5 stars 5-star rating, Learn more about seller ratings

Condition: good. Book is in good condition and may include underlining highlighting and minimal wear. The book can also include "From the library of" labels. May not contain miscellaneous items toys, dvds, etc. . We offer 100% money back guarantee and 24 7 customer service. Seller Inventory # ZEV.0517548232.G

Contact seller

Buy Used

US$ 5.04
Convert currency
Shipping: FREE
Within U.S.A.
Destination, rates & speeds

Quantity: 2 available

Add to basket

Stock Image

Hazlitt, Henry
ISBN 10: 0517548232 ISBN 13: 9780517548233
Used Paperback

Seller: BooksRun, Philadelphia, PA, U.S.A.

Seller rating 5 out of 5 stars 5-star rating, Learn more about seller ratings

Paperback. Condition: Fair. paperback. Heavy wear. Ship within 24hrs. Satisfaction 100% guaranteed. APO/FPO addresses supported. Seller Inventory # 0517548232-7-1-13

Contact seller

Buy Used

US$ 5.17
Convert currency
Shipping: FREE
Within U.S.A.
Destination, rates & speeds

Quantity: 1 available

Add to basket

Stock Image

Hazlitt, Henry
Published by Crown Currency, 1988
ISBN 10: 0517548232 ISBN 13: 9780517548233
Used paperback

Seller: KuleliBooks, Phoenix, AZ, U.S.A.

Seller rating 5 out of 5 stars 5-star rating, Learn more about seller ratings

paperback. Condition: Good. The book may have minor cosmetic wear (i.e. creased spine/cover, scratches, curled corners, folded pages, minor sunburn, minor water damage, minor bent). The book may have some highlights/notes/underlined pages - Accessories such as CD, codes, toys, may not be included - Safe and Secure Mailer - No Hassle Return. Seller Inventory # 521PY6003IFR

Contact seller

Buy Used

US$ 1.00
Convert currency
Shipping: US$ 4.21
Within U.S.A.
Destination, rates & speeds

Quantity: 1 available

Add to basket

Stock Image

Hazlitt, Henry
Published by Crown Currency, 1988
ISBN 10: 0517548232 ISBN 13: 9780517548233
Used Softcover

Seller: Goodwill, Brooklyn Park, MN, U.S.A.

Seller rating 5 out of 5 stars 5-star rating, Learn more about seller ratings

Condition: VeryGood. Seller Inventory # 2Y6RVK001XDV_ns

Contact seller

Buy Used

US$ 2.09
Convert currency
Shipping: US$ 3.99
Within U.S.A.
Destination, rates & speeds

Quantity: 1 available

Add to basket

There are 104 more copies of this book

View all search results for this book