Why am I passionate about this?
I’ve spent the last 17 years leveraging my Master’s degree in economics as a public policy analyst focusing on educating legislators and the public about the consequences of economic public policy. I’ve also taught several economic courses as an adjunct at a small university and area community college. Spreading sound economic knowledge is important to me. History–and the present day–is full of tragic tales of suffering in societies that failed to heed the lessons of sound economics. Sadly, however, the majority of Americans are either uneducated or mis-educated in economics. My passion is to advance economic understanding among citizens–especially young people–in order to correct that.
Brian's book list on books to learn Austrian economics
Why did Brian love this book?
While not explicitly from the Austrian School, Hazlitt’s book is perhaps the most popular “gateway drug” of sorts, guiding interested readers to the Austrian School.
What is the “one lesson” Hazlitt boils economics down to? All economic decisions have “opportunity costs.” In short, when we choose to use a resource for X, we forgo the opportunity to pursue Y. If you spend $5 on milk, that $5 is no longer available to buy eggs or bread. When a ton of steel is used in building a bridge, it is no longer available for use in building a skyscraper.
What should be easily intuitive is often readily overlooked, especially when debating government spending. Hazlitt’s book is a great introductory piece written for the layman as he masterfully leverages this “one lesson” to explore several aspects of public policy.
3 authors picked Economics in One Lesson as one of their favorite books, and they share why you should read it.
With over a million copies sold, Economics in One Lesson is an essential guide to the basics of economic theory. A fundamental influence on modern libertarianism, Hazlitt defends capitalism and the free market from economic myths that persist to this day.
Considered among the leading economic thinkers of the “Austrian School,” which includes Carl Menger, Ludwig von Mises, Friedrich (F.A.) Hayek, and others, Henry Hazlitt (1894-1993), was a libertarian philosopher, an economist, and a journalist. He was the founding vice-president of the Foundation for Economic Education and an early editor of The Freeman magazine, an influential libertarian publication. Hazlitt wrote…