I took an economics class in high school, but I doubt I was paying much attention and that was quite some time ago. So I decided to read something on economics and this book was recommended. The book's thesis is summed up in the first chapter when Hazlitt explains that, "The whole of economics can be reduced to a single lesson . . . The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups."
This is the message that Hazlitt sets out to prove true in his book. Hazlitt is certainly a free-market economist. He is opposed to nearly all government intervention into economic affairs and frowns on things like minimum wages, subsidies, and social security. His argumentation is sound and convincing and his writing is easy to read. He takes a look at many practical areas of economics and shows how the failure to heed his one stated lesson has caused much damage.
The book is a good introduction to economics and certainly gets one thinking about the potential long-term effects of certain government policies currently under consideration.
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