I read this book online at this link: http://mises.org/books/economics_in_one_lesson_hazlitt.pdf
I will buy a hard-copy to add to my library and will do so with the intention to reread it often.
Hazlitt hit the nail on the head with this introduction to sound economics. So many people think that the realm of economics is bound to complex, mathematical equations. Sure, there are many applicable equations, but great economics is the ability to see the big picture and accurately discern the inevitable consequences of human actions. Hazlitt teaches the reader how to see this big picture.
I’m amazed at the fact that the arguments addressed in this book (written at the end of WWII) are the same arguments being made today. Unfortunately, the world seems hell-bent on ignoring the warnings of great minds like Hazlitt, Smith, and Bastiat. Consequently, governments fail to learn from history and expect to gain prosperity through the economic policies that have destroyed countless societies throughout time.
I wish I had read it earlier in life. Having done so, might have protected me from the fear-mongering that pushed many of us to think that the bailouts and tarp might actually be necessary. I certainly bought into that line of thought at the time, but thanks to this book and other studies I now know not only that the bailouts were a bad idea, but I also understand why.
I don’t simply recommend this book – I consider it a MUST read.