Introduction to “Economics in One Lesson”   32 comments

In 1946, Henry Hazlitt published a book analyzing the economic fallacies that he saw as so prevalent at the time that they were almost a new orthodoxy. There was no major government in the world that had not had its economic policies influenced, if not wholly determined, by the acceptance of some of these fallacies.

In doing so, he did not focus on specific writers who espoused errors, but rather on the errors themselves.

Fallacies, when they have reached the popular stage, become anonymous anyway. … The doctrine becomes simplified, the sophism that may have been buried in a network of qualifications, ambiguities, or mathematical equations stands clear. I hope I should not be accused of injustice on the ground, therefore, that a fashionable doctrine in the form in which I have presented it is not precisely the doctrine as it has been formulated by Lord Keynes or some other special author. It is the beliefs which politically infIuential groups hold and which governments act upon that we are interested in here, not the historical origins of those beliefs.

I thought I’d do my next series on Hazlitt’s Economics in One Lesson. It will have several parts because Hazlitt did a detailed analysis that still holds water today.

Image result for image of economics in one lessonPart 1

Chapter 1: The Lesson

Part 2

Chapter 2: The Broken Window

Chapter 3: The Blessings of Destruction

Chapter 4: Public Works Means Taxes

Chapter 5: Taxes Discourage Production

Chapter 6: Credit Diverts Production

Chapter 7: The Curse of Machinery

Chapter 8: Spread-the-Work Schemes

Chapter 9: Disbanding Troops and Bureaucrats

Chapter 10: The Fetish of Full Employment

Chapter 11: Who’s ‘Protected’ by Tariffs?

Chapter 12: The Drive for Exports

Chapter 13: ‘Parity’ Prices

Chapter 14: Saving the X Industry

Chapter 15: How the Price System Works

Chapter 16: ‘Stabilizing’ Commodities

Chapter 17: Government Price-Fixing

Chapter 18: Minimum Wage Laws

Chapter 19: Do Unions Really Raise Wages?

Chapter 20: Enough to Buy Back the Product

Chapter 21: The Function of Profits

Chapter 22: The Mirage of Inflation

Chapter 23: The Assault on Saving

Part 3

Lesson Restated


Lela’s Followup


Posted January 9, 2017 by aurorawatcherak in economics

Tagged with , ,

32 responses to “Introduction to “Economics in One Lesson”

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  1. Pingback: Economics “The Lesson” | aurorawatcherak

  2. Pingback: The Broken Window | aurorawatcherak

  3. Pingback: Blessings of Destruction | aurorawatcherak

  4. Pingback: Overregulation Kills Beloved Neighborhood Restaurant | Brittany Hunter | aurorawatcherak

  5. Pingback: Public Works Mean Taxes | aurorawatcherak

  6. Pingback: Taxes Discourage Production | aurorawatcherak

  7. Pingback: Credit Diverts Production | aurorawatcherak

  8. Pingback: Spread the Work Scheme | aurorawatcherak

  9. Pingback: Fetish of Full Employment | aurorawatcherak

  10. Pingback: Who’s “Protected” by Tariffs? | aurorawatcherak

  11. Pingback: Another Good One | aurorawatcherak

  12. Pingback: Saving X Industry | aurorawatcherak

  13. Pingback: “Parity” Prices | aurorawatcherak

  14. Pingback: Drive for Exports | aurorawatcherak

  15. Pingback: Disbanding Troops and Bureaucrats | aurorawatcherak

  16. Pingback: The Curse of Machinery | aurorawatcherak

  17. Pingback: FHA Mortgage Rate Cuts Are Subsidies, Not Tax Relief | Eric Schuler | aurorawatcherak

  18. Pingback: How the Price System Works | aurorawatcherak

  19. Pingback: “Stablizing” Commodities | aurorawatcherak

  20. Pingback: A Universal Basic Income Would Mean Massive Tax Hikes | Robert Colvile | aurorawatcherak

  21. Pingback: Misgivings | aurorawatcherak

  22. Pingback: Government Price-Fixing | aurorawatcherak

  23. Pingback: Do Unions Really Raise Wages | aurorawatcherak

  24. Pingback: Minimum Wage Laws | aurorawatcherak

  25. Pingback: Enough to Buy Back the Product | aurorawatcherak

  26. Pingback: Enough to Buy Back the Product | aurorawatcherak

  27. Pingback: The Function of Profits | aurorawatcherak

  28. Pingback: The Mirage of Inflation | aurorawatcherak

  29. Pingback: The Assault on Savings | aurorawatcherak

  30. Pingback: The Lesson Restated | aurorawatcherak

  31. Pingback: Economics in One Lesson Review | aurorawatcherak

  32. Pingback: The Broken Window | Frederic Bastiat | aurorawatcherak

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