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Showing posts from March, 2011

Garet Garrett's Review of Hazlitt's Primer

Garrett's review of Henry Hazlitt's Economics in One Lesson appeared in the October, 1946 issue of American Affairs,  My eternal gratitude to Mises Institute for making this and countless other free market publications available for free download.

Garrett's position reminds me of Ayn Rand's comment that people do not accept collectivism because the accept bad economics; they accept bad economics because they accept collectivism.

Economic Fallacy
HERE is Henry Hazlitt exercising his gift for lucidity to produce a book entitled *Economics in One Lesson. If there were such a book this would be it. It deals with those "economic fallacies that are at last so prevalent that they have almost become new orthodoxy,"—to the point that now there is not a major government in the world whose economic policies are not influenced or in fact determined by them. He undertakes to expose them by analysis and reason and to chase them into the ground.

But in the first place, how …