confusion central
if you’re here, you are SO lost.

Economics

Henry Hazlitt has written a relatively brief book entitled, presumptuously enough, Economics in One Lesson. I was extremely skeptical that any such complex subject could possibly be taught in only one lesson, but I was surprised to discover that it can be done.

Hazlitt proposes, based on his experience as an economist, that the only truly essential thing any individual must realize about economics is simply that not only the short-term benefits of a policy must be examined. Nor should benefits for just one group be examined. No, Hazlitt argues, every advantage and disadvantage for every economic policy must be forecast as accurately and realistically as possible for every single group.

Hazlitt continues by saying that almost every economic mistake ever made can be traced to the shortsightedness of policymakers who labor under the influence of special interests. Now, Economics in One Lesson is no smal pamphlet. It is a full-size book, which is part of the reason I was dubious that he really presumed to teach economics in one lesson. However, the lesson itself is about four pages long. His applications of his lesson are what make the book a book. By examining such topics as inflation, price fixing, rent fixing, minimum wages, parity prices, and the “badness” of saving, Hazlitt builds a persuasive case for his one little lesson.

I would like this page to house articles I write pertaining to Hazlitt’s often-disparaged ideas about governmental accountability and intervention in the economy of a country. I’ll say here and now that I’m no economist myself. But if economics truly makes as much sense as Hazlitt seems to think, then it is far too big an issue for me to completely ignore! Intentional ignorance of economics has contributed to the current decay of our country. I would like to do whatever I can to discover more about this unavoidable reality called the economy.

I am no pacifist: I strongly urge (kind, well-reasoned) dissent to what I have to say. I’ll give this a go, though I won’t promise I’ll update as frequently as I do my main blog. But no matter! Here we go. 🙂

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