Customer Reviews


75 Reviews
5 star:
 (51)
4 star:
 (10)
3 star:
 (6)
2 star:
 (4)
1 star:
 (4)
 
 
 
 
 
Average Customer Review
Share your thoughts with other customers
Create your own review
 
 

The most helpful favourable review
The most helpful critical review


3 of 3 people found the following review helpful
5.0 out of 5 stars Your Government Has No Idea How Bad A Mess It's Making
Henry Hazlitt has done the layman a huge favour in writing this book. Unfortunately, it is not only the layman who desperately needs this book. It is the world's politicians, the presidents of central banks, and those who control monetary policy who have severed their moorings with common sense and are now afloat on a raging sea of market fall-out and who don't...
Published on Feb. 16 2011 by D Glover

versus
2.0 out of 5 stars Too simplistic
Although though we're (presumably) members of the same political choir, the author treats economics much too simplistically.
Calling this book a polemic on Keynesian economics would be accurate, calling it an economics treatise would be just plain wrong.
Time would be better spent reading Bastiat.
Published on March 30 2000


‹ Previous | 1 2 38 | Next ›
Most Helpful First | Newest First

3 of 5 people found the following review helpful
4.0 out of 5 stars Choose some alternatives and map them to the real world, Jan. 17 2004
By 
J. Martin (GA United States) - See all my reviews
(REAL NAME)   
This review is from: Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics (Paperback)
Of the positive reveiews, they seem to be amazed that someone can define economics. It's not really rocket science, and, in an age of plenty, it's not really about scarcity. It's about individuals making choices to maximize value. They may be bad choices, uniformed choices or perverse choices, but they have, in the final analysis, impact limited to the individual. And in most cases result in some level of increased individual satisfaction.
The real danger, according to Hazlitt, is when the choices of a few people, with same kinds of fallacies noted above, are coercive, enforced by government or monopolies. Which leads us to to the negative reviews.
The negatives, if we can be allowed to throw out the obvious loser rants, seem to be concerned mainly with rapacious corporations, free trade among inequal countries and natural monopolies. While these are certainly provide distortions of individual choice and informed consent, they do in the long run tend to be self correcting -- see government-sanctioned coal and oil monopolies. The real interest is in how to minimize the effects of these diseconomies.
Hazlitt would argue that they are self-correcting via the collective effect of individual choices. The Marxists would argue that action based upon the sceeding of individual choice to a collective power is the solution. Surely, if we can assume there is no absolute, theoretical winner in this debate, we can look to the real world, based upon the actions of multiple forms of government and millions of individuals to provide some guidance on which path leads to the most for the most.
To that end, I would challenge you to read Hazlitt's book and a Marxist equivalent like Ivan Ilich's "Tools for Conviviality" and then, accepting both as plausibly complete and material, match them against your experience of recent history and your hopes for your personal future.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


5.0 out of 5 stars Learned a lot!, June 7 2011
This review is from: Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics (Paperback)
I have no background in economics, so this book was very helpful. I feel as though I gained a grounding in the area and a much better understanding of the world!

Recommend to anyone :)
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


5.0 out of 5 stars Great economics starter!, July 14 2004
By 
Wei Ho "weiho72" (San Gabriel, California USA) - See all my reviews
(REAL NAME)   
This review is from: Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics (Paperback)
Having poor public schooling on economics, I decided to pick this book up. This is the perfect starter book for anyone wanting to learn about economics. Relatively short book, just goes through major topics each chapter. Short and to the point.
After this book, I would recommend "Naked Economics" by Charles Wheelan. I started off reading Milton Friedman and Thomas Sowell, and in comparison, this is a much easier read. I think I might have started backwards. =).
A must read for beginners.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


5.0 out of 5 stars Economics in One Lesson by Hazlitt, May 27 2004
This review is from: Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics (Paperback)
This work is a solid value for the price charged. It integrates some common sense Economics principles with classics by Adam Smith and others. The author starts by explaining how public works projects benefit the local economy in the short term while paying for themselves over the long term in terms of toll revenues and additional taxes . He believes that high taxes tend to discourage badly needed investment. Machinery does displace workers in the short term; however, the incremental productivity
has a permanent benefit. What would we do today without cars?
or planes?
Tariffs tend to benefit producers at the expense of consumers.
Prices are determined by the dynamics of demand and supply.
Rent control has benefits but the downside tends to discourage new building. Unions tend to provide for local employment while at the same time providing pay equity and benefits for the
membership.
This book is a solid value for economists, households, students of economics , journalists and a whole host of constituencies.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


5.0 out of 5 stars Economics in One Lesson, April 17 2004
By 
B. Viberg "Alex Rodriguez" (New York, NY United States) - See all my reviews
(REAL NAME)   
This review is from: Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics (Paperback)
For the person who thinks economics is a dismal science, this is one of the best short introductions available.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


4.0 out of 5 stars Definitely a great primer!, Jan. 6 2004
By 
Scot (Tampa, FL United States) - See all my reviews
This review is from: Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics (Paperback)
If you are even remotely interested in what can be a sometimes boring and usually complex subject, this is a fantantistic introduction. Sure, there are going to be those who point out it's fallacies but the book was written more for the laymen, not graduate studies. Readable and concise.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


5.0 out of 5 stars Easy to Read; Right on the Money, Sept. 17 2003
This review is from: Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics (Paperback)
This should be required reading for every high school student. its easy to read, but right on the money. The clarity of the book belies its depth and accuracy. Hazlitt has written a wondrous book about the true nature of people and money, and how things should work.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


5.0 out of 5 stars Best book on Economics for the general reader, Aug. 19 2003
By A Customer
This review is from: Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics (Paperback)
This is an excellent introduction to Economics. Hazlitt was a clear writer, and his analysis of fallacious economic thought is very informative. You don't have to be a student of Economics - this is a book that can benefit every reader. I just wish more of our politicians had read this book.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


4.0 out of 5 stars Great Book, but Where is the MISSING CHAPTER?, May 17 2003
By 
P. Macleod "pnmacleod" (Seattle, WA United States) - See all my reviews
(REAL NAME)   
This review is from: Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics (Paperback)
This is an excellent book that is easy to follow and understand. The one lesson is very simple: explore all the consequences of policies and actions, including not only short-term and long-term consequences, but also what actions cannot be done as a consequence of a initial policy or action (e.g. If you spend money on A, you cannot spend the same money on B -- or another way of saying you cannot eat your cake and have it too). Basically, the lesson is to be thorough in analysis of actions and policies. Mr. Hazlitt applies this lesson to a series of economic issues.
It should be noted that many of the ideas in the book come from an 1850 essay by Frederick Bastiat, "What is Seen and What is Unseen".
Using his lesson of thorough analysis, Mr. Hazlitt illustrates of how rent-control can lead to housing shortages, minimum-wage laws can lead to fewer jobs, and tariffs can lead to higher consumer prices. What is SEEN is the benefit to a special group (those in rent-controlled apartments, those with the jobs, or those receiving the protection of the tariff), but what is UNSEEN is the harm done to other groups (those that don't get the benefit of new housing, those who don't get jobs, and those who have to pay higher prices).
My criticism of the book is that there is an ENORMOUS OMISSION. After examining so many topics, Mr. Hazlitt fails to even bring up the government intervention that has had the greatest impact on our economic and political lives (for good and evil), the CORPORATION. Corporations are the biggest influences in our political campaigns, the recipients of the many of the benefits of tariffs and subsidies, and are the focus of many of the regulations of our government.
Mr. Hazlitt's book at least gives us the tools to look at the issue of the corporation.
Corporations have three qualities that are different from other business types: limited liability, personhood, and the perpetual life. I will get you started with the analysis of limited liability.
Limited liability means that an owner or stockholder cannot lose than he or she has paid for the shares of ownership regardless of the firm's debts.
Limited liability cannot be created by a free-market. What is SEEN is that limited liability shields investors from risk, but what is UNSEEN is that the risk is transferred to the other parties, or stakeholders. To some of the stakeholders the acceptance of the risk is an implied contract; employees, creditors, suppliers and customers should aware that by doing business with a corporation they are taking on the risk of the results of actions done in the names of the owners (most corporation special-interest advocates label this government intervention as "efficiency"). However, there is no implied contract with third parties (tort victims). If a corporation goes out of business owing money to third parties no one is held responsible, not owners, not managers. Limited Liability is government granted limited responsibility, or legalized irresponsibility. Government has transferred risks, and the associated costs without the associated benefits, to third parties.
I urge all readers to use Mr. Hazlitt's method to answer, at least, the questions below.
What are the short-term and long-term impacts of Limited Liability on each stakeholder -- investors, managers, employees, suppliers, creditors, and THIRD PARTIES (tort victims), competitors, citizens etc...? What is the impact on competition? How does limited liability change financial markets? How does limited liability relate to the size of organizations? What are the implications of limited liability to the different types of market failures such as Moral Hazard, Rent Seeking, and Market Control? What are the implications for the Principle-Agent problem? What do the large resources gained by means of limited liability mean in a court case where a corporation in matched against a tort victim or any individual? How does all this relate to problems like Superfund sites and asbestos claims? In general, who are the special interest groups that benefit and how do they emphasize the benefits of limited liability without mentioning the costs? In general, who are the groups that are hurt?
Now, what are the implications of corporate personhood?
There are a few other shortcomings in the book, but still it is a great exercise in thinking through ideas.
Cheers.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


4.0 out of 5 stars Read the angry anti-Hazlitt reviews for a real indication, April 29 2003
By A Customer
This review is from: Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics (Paperback)
I think beyond the fact that Hazlitt produces a succinct and well-argued explanation for why free markets are the best arrangements in economic relationships, what is really wonderful is reading the screeds of those readers that he pisses off! Read the rabid ranting temper tantrum of the one reader who amazingly was accepted to the University of Chicago and you can see how ideas that actually support free thought and productive profitable endeavors drive lunatics like this crazy - its awesome!! This dork probably marches against the WTO.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


‹ Previous | 1 2 38 | Next ›
Most Helpful First | Newest First

This product

Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics
CDN$ 17.99 CDN$ 12.99
In Stock
Add to cart Add to wishlist
Only search this product's reviews