Economics in One Lesson
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Economics in One Lesson
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Czyta:
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Jeff Riggenbach
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Autor:
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Henry Hazlitt
A million-copy seller, Henry Hazlitt’s Economics in One Lesson is a classic economic primer. But it is also much more, having become a fundamental influence on modern “libertarian” economics of the type espoused by Ron Paul and others. Called by H. L. Mencken “one of the few economists in history who could really write,” Henry Hazlitt achieved lasting fame for this brilliant but concise work. In it, he explains basic truths about economics and the economic fallacies responsible for unemployment, inflation, high taxes, and recession, as well as illustrating the destructive effects of taxes, rent and price controls, inflation, trade restrictions, and minimum-wage laws.
Economics in One Lesson is deceptively prescient and far-reaching in its efforts to dissemble economic fallacies that are so prevalent they have almost become a new orthodoxy. Many current economic commentators across the political spectrum have credited Hazlitt with foreseeing the collapse of the global economy, which occurred more than fifty years after the initial publication of this seminal work. Hazlitt’s focus on non-governmental solutions, strong—and strongly reasoned—antideficit 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.
©1962, 1979 by Henry Hazlitt; (P)1996 by Blackstone AudiobooksTe tytuły mogą Ci się spodobać
Opinie krytyków
"If there were a Nobel Prize for clear economic thinking, Mr. Hazlitt's book would be a worthy recipient...like a surgeon's scalpel, it cuts through...much nonsense that has been written in recent years about our economic ailments." (J.W. Hanes, former Undersecretary of the Treasury)
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Great points, clear presentation of
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Keynes put it perfectly simple: when the economy is at or near full capacity, the orthodoxy applies: Saving is good, state activity subtracts from private sector / cause inflation. The orthodoxy simply assumes that the economy is always near full capacity or quickly returns to it. So they stand helpless when there are great depressions (mostly because of overdebted private economies, e.g. Japan 1990ff.). In a prolonged slump, saving (e.g. net debt payment) becomes bad. Depressions with debt deflation left to themselves take their time until private credit levels are low enough to begin rising again and hope returns. So when the dam or the interstate highways are not built, in a depression the private sector does not automatically take initiative, the glazier does not buy the suit or even invest in new capacity. Politically, because of unemployment you could get a Hitler in the meantime. Economically, in a slump you have space to drag/push the economy by raising public deficits (which are public incomes) without inflation, by lowering taxes or raising spending. Of course, if you overdo it and spend full throttle near capacity for political reasons, you'll get inflation. The orthodoxy then applies again. So the classical theory is not wrong, it is just a special case.
One of the most misleading books in economics
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