If you’re interested in basic economics, or just want a really interesting book to read give “Economics in One Lesson: The Shortest & Surest Way to Understand Basic Economics” By Henry Hazlitt a glance.
It’s not an advanced book. It’s more of an introductory manual.
However, I have to give it a shout-out on here for one simple reason.
It’s the book that got me interested in economics. Before reading his work, I didn’t even know what inflation was. I was a teenager at the time.
It altered my opinion of the field, even going so far as to entice me to major in economics in college. Cause let’s be honest, most people hear the word “economics” and immediately yawn.
But that’s what attracted me to Henry Hazlitt’s book. A lot of the reviews all said that it was an insightful introduction to the field of econ. A practical and functional introduction.
It was short, less than 200 pages. So I figured I’d give it a chance.
I’m glad I did. Econ is one of my favorite fields of research now. That’s why I have an entire category dedicated to it on this website.
Economics in One Lesson by Henry Hazlitt
The very first part in the book talks about the broken window fallacy. After that, it dives into topics such as:
- The Curse of Machinery
- Disbanding Troops
- The Fetish of Full Employment
- Government Price-Fixing
- What Rent Control Does
- The Assault on Savings
I truly believe if everyone knew a bit more about economic theory and how it applies, the world could be a lot better place. We don’t think about it consciously, but every issue involves scarce resources (such as money). And we have to find a way to understand the effects that certain actions have on us and those around us.
And I think that Economics in One Lesson is probably the best introduction manual that anyone could read.
Don’t bother with the complicated textbooks or the detailed mathematical components. Freakonomics is great but doesn’t really teach much true econ. Pick up an actual book by an actual economist that has a knack for writing. That’s the easiest way to get a better understanding of the world around you.
And if you like it, maybe you’ll end up like me and actually desiring to study the math/theories behind it.
This book is also anti-Keynesian. So if you want to read some snarky comments about Keynes, as you should, you can definitely find them in this book.
If you have questions about the book, leave them in the comments below or send me an email here.
Otherwise, grab a copy for yourself and give it a read.