English | October 1st, 2017 | ASIN: B075H2Q3BV, ISBN: 1604191147 | 271 Pages | EPUB | 2.02 MB
Henry Hazlitt's 1946 book Economics in One Lesson sold more than a million copies. It is perhaps the best selling economics book of all time. In this volume, Hunter Lewis, a Hazlitt admirer and student, provides a sequel and update.
The central lesson of Hazlitt's seminal work is that economic thought and policy must consider all the consequences of an action, not just the immediate or most visible ones. Hazlitt is right that this is the kernel of all good economics. Lewis covers this theme and also introduces two more lessons: how a free and uncontrolled price system creates prosperity and how a controlled or manipulated price system creates only crony capitalist corruption and, ultimately, poverty and economic failure.
The great merit of this volume is its simplicity. Anyone can read and understand it. It is an ideal introduction to economics.