Friday, May 20, 2016

Economics in One Lesson

And nobody wants to show you now
And nobody wants to show you how
--Corey Hart

What one book would I recommend to anyone seeking basic understanding of economics--particularly as it pertains to political economy? Easy: Hazlitt's Economics in One Lesson.

Hazlitt was not an economist by formal training. Probably a good thing, as it permitted him to see economic realities much better than most PhDs. He excelled in explanation, which permits him to convey economic concepts wonderfully.

HH demonstrates just how broadly Bastiat's Broken Window Fallacy applies to economic and social action. That lesson alone is worth the price of admission, which turns out to be merely an open mind that is willing to learn.

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