Jumping on the Bandwagon
Everybody's posting links to the online version of Hazlitt's classic Economics in One Lesson
, so I might as well too. It's definitely an excellent introduction to economics, and one of the "lessons" it highlights throughout is invaluable to studying economics.
I'm referring, of course, to Hazlitt's well known dictum:
From this aspect, therefore, the whole of economics can be reduced to a single lesson, and that lesson can be reduced to a single sentence. The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.
POSTED BY THE GENERAL AT 8:30 PM
- Henry Hazlitt, Economics in One Lesson, pg. 17