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5.0 out of 5 stars The economics book that everybody should read, 1 Jun. 2013
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This review is from: Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics (Kindle Edition)
This is the book that debunks all the Keynesian nonsense that has damaged the advanced western economies. It provides a lucid explanation of basic economics through one basic lesson - when considering what economic policy to pursue it is vital to consider not just what is seen - i.e. the obvious consequences of that policy - but also what is not seen. This is sometimes known as the 'broken window fallacy' first set out by the eminent 19th century French economist Bastiat. We see versions of this still cropping up today - even by Nobel prize winning economists who claim that such things as disasters (natural or man made) can be good for the economy by providing work for reconstruction. The idea that destruction of things that are not obsolete is a good thing could only be believed by an academic economist.
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