In a raw, uncut straight the point view on economics Author Henry Hazlitt book Economics in one lesson points out the fallacies of the current economic state of the country. Mr. Hazlitt describes multiple down coming of government involvement in the economy and how these down coming affect the overall health of the economy. Drilling down into each chapter and subject giving further explanation of the overlooked problems of the economy. The art of economics, the broken window, Public works mean taxes, the curse of machinery, Disbanding troops and bureaucrats, “Stabilizing” commodities, and the assault on saving will be further examined through the book report.
Taking an in-depth look at how “The Art of economics” have economist taking sides on how the economy should be run. The author states that “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.” PG 17 Simply said economics has many levels. Not just the immediate effect of the change, but also the long term affect.
For example rent control, the rent controlled at 800, yet the previous rent was …show more content…
In the story of the broken window the author explains how a child throwing a brick through a window helps certain business owners while in the same time hurt others. PG 23 and 24. Yes a new window has to be made to replace the one broken, but the business owner had plans with $250 it will take to replace the window. The business owner wanted to buy a new suit. Now he no longer has the means to do so due the window being broken. In the story the author as talks about the tailor who will now lose business from the gentlemen who window was broken as he can no longer afford the suit. He had planned to buy with the $250 needed to fix the
Taking an in-depth look at how “The Art of economics” have economist taking sides on how the economy should be run. The author states that “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.” PG 17 Simply said economics has many levels. Not just the immediate effect of the change, but also the long term affect.
For example rent control, the rent controlled at 800, yet the previous rent was …show more content…
In the story of the broken window the author explains how a child throwing a brick through a window helps certain business owners while in the same time hurt others. PG 23 and 24. Yes a new window has to be made to replace the one broken, but the business owner had plans with $250 it will take to replace the window. The business owner wanted to buy a new suit. Now he no longer has the means to do so due the window being broken. In the story the author as talks about the tailor who will now lose business from the gentlemen who window was broken as he can no longer afford the suit. He had planned to buy with the $250 needed to fix the