Economics in One Lesson Best Audiobook Summary by Henry Hazlitt

Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics by Henry Hazlitt - Free Audiobook Summary and Review

With over a million copies sold, Economics in One Lesson is an essential guide to the basics of economic theory. A fundamental influence on modern libertarianism, Hazlitt defends capitalism and the free market from economic myths that persist to this day.

Considered among the leading economic thinkers of the “Austrian School,” which includes Carl Menger, Ludwig von Mises, Friedrich (F.A.) Hayek, and others, Henry Hazlitt (1894-1993), was a libertarian philosopher, an economist, and a journalist. He was the founding vice-president of the Foundation for Economic Education and an early editor of The Freeman magazine, an influential libertarian publication. Hazlitt wrote Economics in One Lesson, his seminal work, in 1946. Concise and instructive, it is also deceptively prescient and far-reaching in its efforts to dissemble economic fallacies that are so prevalent they have almost become a new orthodoxy.

Economic commentators across the political spectrum have credited Hazlitt with foreseeing the collapse of the global economy which occurred more than 50 years after the initial publication of Economics in One Lesson. Hazlitt’s focus on non-governmental solutions, strong — and strongly reasoned — anti-deficit position, and general emphasis on free markets, economic liberty of individuals, and the dangers of government intervention make Economics in One Lesson every bit as relevant and valuable today as it has been since publication.

This book is easy to read but it is not "partisan"
Hazlitt's book is mainly a commentary on Bastiat's What is seen and unseen essay, but his examples are clear and convincing. The book was last updated in 1978, but several chapters are highly relevant to the tariff and immigration arguments raging today. Hazlitt's insights into the harmful effects of continual inflation and an aversion to profits for private firms are also relevant to today's most important issues. This book is easy to read but it is not "partisan". Nor is it ideological. Hazlitt does a good job of using facts to support his claims. Some will not agree with his conclusions, but no one can claim that Hazlitt presents a deliberately biased or unbalanced case. A poor understanding of economics underlies many bad decisions which have been made over the past 80 years. Hazlitt's book is one step in the educational process needed to repair the damage done.

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