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Economic In One Lesson

Economics in One Lesson

by Henry Hazlitt

Contents

PREFACE TO THE NEW EDITION

PREFACE TO THE FIRST EDITION

PART ONE: THE LESSON

o 1. The Lesson

PART TWO: THE LESSON APPLIED

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

PART THREE: THE LESSON AFTER THIRTY YEARS

o The Lesson After Thirty Years

A NOTE ON BOOKS

ENDNOTES

PREFACE TO THE NEW EDITION

 The first edition of this book appeared in 1946. Eight translations were made of it, and there were numerous paperback editions. In a paperback of 1961, a new chapter was added on rent control, which had not been specifically considered in the first edition apart from government price-fixing in general. A few statistics and illustrative references were brought up to date.
Otherwise no changes were made until now. The chief reason was that they were not thought necessary. My book was written to emphasize general economic principles, and the penalties of ignoring them-not the harm done by any specific piece of...