Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics by Henry Hazlitt

This book should be required reading for all elected officials and government policy-makers. It is also highly recommended for all voters, taxpayers, and citizens. Basic economics is presented as simply and clearly as possible. The numbers/statistics are used sparingly. It should not be too difficult to comprehend for most idiot legislators.

The “one lesson” is explained in the five pages of the first chapter. Every act or policy has consequences: not only immediate effects, but also long-term effects; and not only effects on one particular group, but also on all other groups. The remaining two-hundred pages contain applications of this lesson on a variety of topics, where a particular policy was enacted without realizing all eventual consequences. Topics include public works, taxes, imports/exports, price-fixing, unions, and inflation.

Governments are making the same egregious errors today as they were when the first edition of this book was published over sixty years ago. Hopefully, we can fix this. Start by sending a copy of this book to your elected representatives today.