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60 of 61 people found the following review helpful
5.0 out of 5 stars Simple, elegant, persuasive
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...
Published on 7 Jun 2006 by Sébastien Pétain

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16 of 19 people found the following review helpful
3.0 out of 5 stars An introduction, but can be a little wordy and tedious!
A fairly straightforward book explaining in simple terms some very basic economic principles. However, I felt that the information imparted could have been done in a much shorter book as it tends to go on in much the same way about each subject, often veering dangerously close to being a rant. Mr Hazlitt writes in the style of a grumpy, opinionated Daily Mail reader,...
Published on 10 Nov 2011 by Kuma


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3 of 5 people found the following review helpful
5.0 out of 5 stars Superb, 9 Nov 2010
This review is from: Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics (Audio CD)
Not sure how I managed to do this but i ordered the audio version - avoid this one, everyone. Still, it was easy to follow and bearing in mind he touches on some reasonably tricky issues that is testament enough to the simplicity of his style.

Highly recommended to anyone struggling with the bilge of Keynesian economic thinking that is all the rage at the moment.

Another highly, highly recommended book is "How an Economy Grows and Why it Crashes" by Peter Schiff - again superb and a real eye opener. shame our politicians dont seem to know the basics....
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4.0 out of 5 stars Good intro to the world of Hazlitt, 2 Aug 2014
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Simple, powerful, statements of the obvious.
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11 of 19 people found the following review helpful
4.0 out of 5 stars Clear and unsentimental, but also simplistic and with little hope for so many, 24 April 2010
By 
Alastair Ross (Aberdeenshire, Scotland) - See all my reviews
(REAL NAME)   
This book presents the hard facts of economics in simple and accessible terms. It deserves to be read as a clear and unsentimental review of economic reality in a free market. The author examines and dismisses a wide range of misguided policies which, he argues, ultimately fail to deliver real prosperity. Prosperity he defines as real and lasting improvement in the conditions of the totality of the human race. It's a good definition and one that deserves our support.

But the author makes two critical assumptions and fails to address what happens when those assumptions break down. These are that labour and money are perfectly mobile, and that consumers have full and perfectly understandable information about all competitors in the market.

There are markets in the developed world where his assumptions may be reasonable for practical purposes - the USA for one - and it is notable that the author writes principally from his experience in the US. But there are places where these assumptions are not valid. Labour on an African farm does not enjoy the luxury of retraining to work on the car production lines of Detroit. Immmigration barriers and education barriers stand in their way.

The practical questions for global economic development reach far beyond the grasp of this book.

The author argues quite cogently against the many forms of trade and labour protection and his line of argument is strong - but only in an already free market. He offers no answer to the poverty of so much of the human race - those people whose lives are under constant threat with no realistic opportunity to change their situation because their market is not in fact free.

In the same way that our species nurtures and protects our children until they are strong enough to fend for themselves so also do we need to nurture and protect those economies that are determined to grow strong and contribute to our global wealth. As every parent knows it is a balancing act - some freedom, some protection, some exposure to threat and opportunity - until the whole is able to take care of itself, leave the shelter of the parent, and take its place in the whole global market.

The most important question is not how a free market operates but how we nurture the weakest in our world until they are strong enough to compete on equal terms in that free market.
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4 of 8 people found the following review helpful
1.0 out of 5 stars Some things are just ignored and it's not an introduction to economy at all, 1 Nov 2011
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I can agree with most points, but for example in Chapter XI, when discussing that duty has a negative effect on the economy, because consumers would have to pay $5 less for a sweater that has no duty on it, thus they can spend that extra $5 on other things, that will add to the wealth; but where that $5 duty goes if it's collected, is entirely left out from the discussion.

This book is not an introduction to economics, or a "way to understand basic economics". It's only a criticism of the way of thinking of economists or the public.

It's overly wordy, but sometimes it leaves out the explanation of important bits.

After reading the first chapter you get the idea, it would be even enough to read the reviews here to get the points made in the book.
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