Economics in One Lesson

by Henry Hazlitt Author

(From Amazon): 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. Covering considerable ground, Hazlitt illustrates the destructive effects of taxes, rent and price controls, inflation, trade restrictions, and minimum-wage laws. He also writes about key classical liberal thinkers like John Locke, Adam Smith, Thomas Jefferson, John Stuart Mill, Alexis de Tocqueville, and Herbert Spencer.

Additional Details

Resource Type
Print Status
In Print
Suggested Grades
9th - 12th


  • -- Prefaces
  • 1 The Lesson
  • 2 The Broken Window
  • 3 The Blessings of Destruction
  • 4 Public Works Means Taxes
  • 5 Taxes Discourage Production
  • 6 Credit Diverts Production
  • 7 The Curse of Machinery
  • 8 Spread-the-Work Schemes
  • 9 Disbanding Troops and Bureaucrats
  • 10 The Fetish of Full Employment
  • 11 Who's "Protected" by Tariffs?
  • 12 The Drive for Exports
  • 13 "Parity" Prices
  • 14 Saving the X Industry
  • 15 How the Price System Works
  • 16 "Stabilizing" Commodities
  • 17 Government Price-Fixing
  • 18 What Rent Control Does
  • 19 Minimum Wage Laws
  • 20 Do Unions Really Raise Wages?
  • 21 "Enough to Buy Back the Product"
  • 22 The Function of Profits
  • 23 The Mirage of Inflation
  • 24 The Assault on Saving
  • 25 The Lesson Restated
  • 26 The Lesson After Thirty Years
  • 27 A Note on Books

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