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First published in the year 1946, Economics In One Lesson: The Shortest And Surest Way To Understand Basic Economics has revolutionized the thinking of several economists across the globe. The teachings of Hazlitt have had a tremendous influence on the present economic mindset. Through the course of this book, he promotes a libertarian approach towards economic thinking.
This book has been divided into three parts, containing 26 chapters in total. Some of the chapters include The Mirage Of Inflation, Do Unions Really Raise Wages?, The Lesson Restated, The Lesson After Thirty Years, How The Price System Works, Government Price-Fixing, and “Enough To Buy Back The Product”. The Blessings Of Destruction, Taxes Discourage Production, The Fetish Of Full Employment, What Rent Control Does, and The Drive For Exports are some of the other chapters presented.
Through the course of this guide, Hazlitt has thrown light on several myths pertaining to the present economic system of the world. He predicted the fall of the economy almost 50 years prior to its occurrence. Topics such as free markets, and non-government solutions have also been dealt with in a detailed manner. All in all, Economics In One Lesson: The Shortest And Surest Way To Understand Basic Economics is considered a must-read for economists across the globe, as it discusses many topics that are of relevance in modern times.
This popular reference volume has been translated in as many as 10 languages and has sold more than a million copies.
About Henry Hazlitt
Henry Hazlitt was a renowned journalist, literary critic, philosopher, and economist from America. Apart from this book, Hazlitt has written a number of other books such as Will Dollars Save The World, The Wisdom Of The Stoics: Selections From Seneca, Epictetus, and Marcus Aurelius, Rules For Living: The Ethics Of Social Cooperation, andFreedom In America: The Freeman.
Hazlitt was born on the 28th of November, 1894, in Pennsylvania, and grew up in New York. He attended the City College, New York, which was tuition-free. However, he was forced to leave college, as he had support his family financially. Hazlitt began to work for The Wall Street Journal, holding the post of a secretary. He also worked for The American Mercury, Newsweek, and The New York Times. At the age of 21, Hazlitt published his debut book, Thinking As A Science. Through the course of his career, he authored 25 books, all on the subject of economics. Hazlitt has been recognized as a leading voice on economics, from the view of American conservatism and libertarianism. He passed away on the 9th of July, 1993.