Economics in One Lesson - Hispanic American Center for Economic Research
ECONOMICS IN ONE LESSON
Other books by the same author
THINKING AS A SCIENCE THE ANATOMY OF CRITICISM A NEW CONSTITUTION NOW A PRACTICAL PROGRAM FOR AMERICA ( E d i t o r )
ECONOMICS
IN
ONE LESSON
By Henry Hazlitt
HARPER & BROTHERS PUBLISHERS
New York and London
ECONOMICS IN ONE LESSON
Copyright, 1946, by Harper & Brothers Printed in the United States of America
All rights in this book are reserved. No part of the book may be reproduced in any manner whatsoever without written permission except in the case of brief quotations embodied in critical articles and reviews. For information
address Harper 6? Brothers
r.-c
CONTENTS
PART ONE: THE LESSON
I. The Lesson
PART TWO: THE LESSON APPLIED
II. The Broken Window m. The Blessings of Destruction iv. Public Works Mean Taxes v. Taxes Discourage Production vi. Credit Diverts Production vn. The Curse of Machinery vni. Spread-the-Work Schemes ix. Disbanding Troops and Bureaucrats x. The Fetish of Full Employment xi. Who's Protected by Tariffs? xn. The Drive for Exports xni. "Parity" Prices xrv. Saving the X Industry xv. How the Price System Works xvi. "Stabilizing" Commodities xvn. Government Price-Fixing XVHI. Minimum Wage Laws xix. Do Unions Really Raise Wages? xx. "Enough to Buy Back the Product" xxi. The Function of Profits xxn. The Mirage of Inflation
XXIII. The Assault on Saving
PART THREE: THE LESSON RESTATED
xxrv. The Lesson Restated
V
3
II
13 i9 27 30 4i 56 63 . 68 7i 85 9i ioo 107
u6
125 137 143 159 163 173 190
211
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