Authot: Henry Hazlitt's
Henry Hazlitt’s Economics in One Lesson is a classic, focusing on the often-overlooked consequences of economic policies. At the heart of Hazlitt’s work is the idea that any economic action has both immediate effects and longer-term impacts—often overlooked by policy-makers and the public alike.
Hazlitt starts with his “one lesson”: that good economic policy considers the consequences of actions not just for one group but for all affected. He then expands on this through chapters tackling topics like price controls, tariffs, taxation, and minimum wage.
Using examples, Hazlitt shows how policies that may initially appear beneficial often create issues down the line, such as inflation or reduced employment.
Hazlitt argues for free-market principles, believing that government intervention generally leads to inefficiency and unanticipated problems.
This book’s enduring popularity stems from its clear, logical approach to complex topics, making it an accessible guide for those wanting to understand the basics of economic policy.
Even decades after its publication, Hazlitt’s arguments remain relevant, serving as an essential introduction to economics and the importance of looking beyond immediate effects to long-term consequences.