Economics in One Lesson

Economics in One Lesson (1946) is a short, interesting book that looks at economic policies on tariffs, subsidies, price fixing and various other economic policies. It’s also worth noting that this book is freely available for download in pdf form at the Mises Institute.

The book does not cover all of economics, rather it goes over why a number of policies like agricultural subsidies are a bad idea. The book emphasizes that the damage done by policies like subsidies is to the whole community while a small section of society benefit. The argument is very much worth remembering when considering these issues.

Economics in One Lesson is well written, Hazlitt was a journalist and not a professional economist . He clearly had, however, understood the arguments against the policies he argues against. It’s well worth reading and it’s sad that it is still relevant, going against the policies advised is currently wrecking Venezuela and agricultural subsidies are making consumers worse off and impoverishing Africa.

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