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A review by stephenmeansme
Economics in One Lesson: The Shortest & Surest Way to Understand Basic Economics by Henry Hazlitt
4.0
This is one of those books that gets effusively praised by a certain kind of student of economics. Upon actually reading it, however, I think the problem lies mostly with the praisers: namely, that their favorite work doesn't actually do the work they say it does.
Oh, to be sure, Hazlitt has some fun rebutting various arguments for government intervention in an economy, and often those arguments come from those of a "progressive" or "leftist" mindset.
But Hazlitt deserves praise for his carefulness in rebutting the arguments alone, and not categorically dismissing every claim in itself. For example, he's not against unions, taxes, or public works per se: he just refutes certain claims that such things will work economic miracles.
That said, this book is very much a product of its time, that is, the immediate postwar period. My copy is from the 1960s. As such, Hazlitt had no opportunity to deal with the sometimes complicating factors that were revealed by more modern research in cognitive psychology and behavioral economics. That said, I don't think his arguments would be changed that much.
Overall it's an interesting little book that should at least serve as a concise example of "laissez-faire" economic thinking.
Oh, to be sure, Hazlitt has some fun rebutting various arguments for government intervention in an economy, and often those arguments come from those of a "progressive" or "leftist" mindset.
But Hazlitt deserves praise for his carefulness in rebutting the arguments alone, and not categorically dismissing every claim in itself. For example, he's not against unions, taxes, or public works per se: he just refutes certain claims that such things will work economic miracles.
That said, this book is very much a product of its time, that is, the immediate postwar period. My copy is from the 1960s. As such, Hazlitt had no opportunity to deal with the sometimes complicating factors that were revealed by more modern research in cognitive psychology and behavioral economics. That said, I don't think his arguments would be changed that much.
Overall it's an interesting little book that should at least serve as a concise example of "laissez-faire" economic thinking.