Economics in One Lesson and over 2 million other books are available for Amazon Kindle . Learn more

Sign in to turn on 1-Click ordering.
Trade in Yours
For a £1.78 Gift Card
Trade in
More Buying Choices
Have one to sell? Sell yours here
Sorry, this item is not available in
Image not available for
Image not available

Start reading Economics in One Lesson on your Kindle in under a minute.

Don't have a Kindle? Get your Kindle here, or download a FREE Kindle Reading App.

Economics in One Lesson [Paperback]

H Hazlitt
4.8 out of 5 stars  See all reviews (34 customer reviews)
RRP: £10.99
Price: £7.69 & FREE Delivery in the UK on orders over £10. Details
You Save: £3.30 (30%)
o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o
In stock.
Dispatched from and sold by Amazon. Gift-wrap available.
Want it tomorrow, 4 Sept.? Choose Express delivery at checkout. Details


Amazon Price New from Used from
Kindle Edition £5.52  
Hardcover --  
Paperback £7.69  
Audio, CD --  
Unknown Binding --  
Audio Download, Unabridged £7.80 or Free with 30-day free trial
Trade In this Item for up to £1.78
Trade in Economics in One Lesson for an Amazon Gift Card of up to £1.78, which you can then spend on millions of items across the site. Trade-in values may vary (terms apply). Learn more

Book Description

20 May 2010
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.

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.

Many current 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.

Frequently Bought Together

Economics in One Lesson + The Road to Serfdom (Routledge Classics)
Price For Both: £21.48

Buy the selected items together

Product details

  • Paperback: 218 pages
  • Publisher: Crown Publications (20 May 2010)
  • Language: English
  • ISBN-10: 0517548232
  • ISBN-13: 978-0517548233
  • Product Dimensions: 20.3 x 13.1 x 1.5 cm
  • Average Customer Review: 4.8 out of 5 stars  See all reviews (34 customer reviews)
  • Amazon Bestsellers Rank: 26,702 in Books (See Top 100 in Books)

More About the Author

Discover books, learn about writers, and more.

Inside This Book (Learn More)
First Sentence
ECONOMICS IS HAUNTED by more fallacies than any other study known to man. Read the first page
Explore More
Browse Sample Pages
Front Cover | Copyright | Table of Contents | Excerpt | Index
Search inside this book:

What Other Items Do Customers Buy After Viewing This Item?

Customer Reviews

Most Helpful Customer Reviews
60 of 61 people found the following review helpful
5.0 out of 5 stars Simple, elegant, persuasive 7 Jun 2006
This writing in this book is straightforward yet beautifully elegant. The author examines over twenty commonly held economic assumptions. In doing so, he exposes what he considers to be faulty thinking and widely assumed fallacies.

This book is written from a classical liberal standpoint. Each `fallacy' is considered in a discrete chapter. Each chapter is in itself a separate little essay. Each little essay builds upon the previous one in explaining a little more of the theories that underpin economic thoughts.

More than anything else, this book attempts to demonstrate that the art of economics is considering not just what is seen in any transaction, but also what is unseen. Often, it explains that a policy designed to achieve a desirable X will have the unintended consequence of creating an undesirable Y which is worse than the original problem that was to be solved.

For instance, if a shop window is broken it must be replaced. It will create employment for the glazier. Many will think this makes the economy richer. However, the shopkeeper may have been planning a different purchase, such as a car or a computer. The shopkeeper will have to purchase a new window. He may no longer be able to afford the computer. So at the end, the shopkeeper is poorer than before - he has only one window whereas he would have had one window and one computer.

This analysis is then applied to the state as a whole. Hazlitt points out what are the immediately visible results of any action. He then attempts to demonstrate what are the invisible consequences. His conclusion is that too often, we do not see the invisible consequences of our or our government's actions.

This is a very accessible work.
Read more ›
Comment | 
Was this review helpful to you?
7 of 7 people found the following review helpful
5.0 out of 5 stars One simple lesson 15 Nov 2009
The authors who understand the subject really well are able to explain it in simple and easy to understand language. This is what I feel that this book is all about. The author explains the economy in one lesson: policies should take into consideration the long-term consequences as well as short-term, and they should consider the effects on all groups, not just few. Wow, so simple, but unfortunately this is not how our policy makers think.

I think that high school students should read this book before they enroll in economic courses that bore them to death with all the graphs and mathematical calculations. I really appreciate that this book is simple but to the point - even junior high school students would understand it. I highly recommend it.

- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market
Comment | 
Was this review helpful to you?
18 of 20 people found the following review helpful
5.0 out of 5 stars Ecomomics for the Everyman 24 Mar 2009
Format:Paperback|Verified Purchase
For most of my life I have paid little attention to theoretical economics and I suspect this is true for most people. However the current disastrous financial dilemmas awoke my interest. I quickly came across the Austrian school of economists and Hazlitt can be classed with them. The writing here is succinct and non technical and full of common sense, a quality missing from almost all economists and politicians.

The economic theory advanced here is illustrative of a persuasive broader philosophy which argues against the interference of the state in our daily lives. I suggest that if this book is to your taste you explore his other works which (in the absence of availability on Amazon) can be obtained at the Ludwig Von Mises Institute in America with the other Austrian school writers.
Comment | 
Was this review helpful to you?
10 of 11 people found the following review helpful
5.0 out of 5 stars Says all that needs to be said 1 Nov 2009
This book is a great introduction to economics. Hazlitt's writing is concise and devoid of academic jargon. Although much of this book was written sixty years ago - though he did add some new stuff in the late seventies - his lesson is still very relevant. Sadly, governments seem incapable of heeding this advice.

Opportunity cost is perhaps the central theme of this book, or the fact that there's no such thing as a free lunch. Every benefit governments choose to dole out on our behalf has a cost and needs to be paid for out of the proceeds of production. If more people took account of these hidden costs and long-term consequences we'd live in a better world.
Comment | 
Was this review helpful to you?
2 of 2 people found the following review helpful
5.0 out of 5 stars A timeless classic without the politics 10 Sep 2011
By Den
If you wanted a crash course in Economic theory, you could do far worse than read Henry Hazlitt's `economics in one lesson'. The writing is an easy style that requires no previous training in economics, it is divided in to easily digested chapters covering a particular economic fallacy and correction, with each following chapter building upon its' predecessor.
This is very much from the Austrian economics branch, with a certain theme of more liberty and less Government being a key concept, but unlike say Paul Krugman, Hazlitt does not come down heavy on the politics, preferring empiricism over political ideologies. Hazlitt is able to succinctly tell us why things are the way they are, rather than the tired `if the world were a fair place' brand of left thinking economists.
A key ingredient in this book is in training the layman to think the way a good economist would think about things. For example while most people will applaud Governments that create jobs for people to get them off the dole queue, Hazlitt asks us to look beyond the obvious to the domino effect that Governments creating unnecessary jobs are doing. In this case if the Government creates a job that could or is being provided by the private sector, for each job created and paid for by taxpayers' money, someone in the private sector is no longer filling that job role. If they are no longer employed they are on the dole queue and not contributing to the false job recently created by central Government and over the long term this is entirely infeasible, costly and unproductive waste of tax payers cash. There are many more examples littered throughout the book that make you think differently to the norm, it makes you think like an economist, or at least a good economist.
Read more ›
Comment | 
Was this review helpful to you?
Would you like to see more reviews about this item?
Were these reviews helpful?   Let us know
Most Recent Customer Reviews
5.0 out of 5 stars Every Politician should read this book
Really enjoyed this book, easy to read as you don't need to have studied economics to fully understand his 'lesson'. Read more
Published 19 days ago by pippin 53
4.0 out of 5 stars Good intro to the world of Hazlitt
Simple, powerful, statements of the obvious.
Published 1 month ago by stephen harker
5.0 out of 5 stars AN EXCELLENT READ
This book is so so so brilliant - Only God knows why I hadn't read it earlier. Have even ordered copies for friends! An excellent book.
Published 1 month ago by Charlie
5.0 out of 5 stars Really good, straightforward book on economics.
I liked this book a lot. It's very straight forward, well explained, and makes a great book on economics. The chapters are each an area of different discussion, ie. Read more
Published 2 months ago by Feneris
5.0 out of 5 stars fascinating and informative
Although this book was first published many decades ago, its message is just as applicable today, as we don't seem to be learning the lessons of the past. Read more
Published 3 months ago by Mr. M. V. Meyerstein
5.0 out of 5 stars Read this book.
Probably, one of the best economics books I have ever read. Definitely, the best economics book I have ever read.
Published 3 months ago by Anas
5.0 out of 5 stars If you are interested in economy then this is a book for you.
I would recommend this book for everyone who is really interested in economy.
I choose this rating because it explains the idea of `free market` which is in this case an... Read more
Published 6 months ago by pawelgonzalez
5.0 out of 5 stars Could not make it clearer
Despite gross simplifications, makes the essence of economic policy making crystal clear. Direct, amusing style. Read more
Published 8 months ago by Eugene Belin
5.0 out of 5 stars The only book on economics that you need to ever read.
If you only read one book on economics make it this one. It should be compulsory at school level, as much for the teachers as the pupils! Read more
Published 9 months ago by Nick Lincoln
First published in 1946, Hazlitt's slim volume is an all-out attack on Keynesian macroeconomic theory in general and President Franklin D Roosevelt's 'New Deal' interventionist... Read more
Published 10 months ago by AD Coker
Search Customer Reviews
Only search this product's reviews

Customer Discussions

This product's forum
Discussion Replies Latest Post
No discussions yet

Ask questions, Share opinions, Gain insight
Start a new discussion
First post:
Prompts for sign-in

Search Customer Discussions
Search all Amazon discussions

Look for similar items by category