E-Book Overview
This book has been the springboard from which millions have come to understand the basic truths about economics - and the economic fallacies responsible for inflation, unemployment, high taxes, and recession. H.L. Mencken called Hazlitt "one of the few economists in human history who could really write. Nobel Laureate F.A. Hayek hailed this book as "a brilliant performance. "If there were a Nobel Prize for clear economic thinking, Mr. Hazlitt's book would be a worthy recipient... like a surgeon's scalpel, it cuts through... much nonsense that has been written in recent years about our economic.
E-Book Content
CROWN TRADE PAPERBACKS New York
Copyright © 1962 and 1979 by Henry Hazlitt Copyright © 1946 by Harper & Brothers
CONTENTS
All rights reserved. No part of this book may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without permission in writing from the publisher. Published by Crown Publishers, Inc. 201 East 50th Street, New York, New York 10022. Member of the Crown Publishing Group.
PREFACE TO THE NEW EDITION PREFACE TO THE FIRST EDITION
PART ONE: T H E LESSON
Random House, Inc. New York, Toronto, London, Sydney, Auckland Crown Trade Paperbacks® and colophon are trademarks of Crown Publishers, Inc. Manufactured in the United States of America Book design by Pat Slesarchik Library of Congress Cataloging-in-Publication Data Hazlitt, Henry, Economics in one lesson. Bibliography Includes index. 1. Economics. I. Title. HB171.H445 1979 330 78-27104 ISBN 0-517-54823-2 32 31
30 29
I / The Lesson
15
PART TWO: 'THE LESSON APPLIED II / The Broken Window III / The Blessings of Destruction IV / Public Works Mean Taxes V / Taxes Discourage Production VI / Credit Diverts P