Reviewing “Economics in One Lesson” – By: Henry Hazlitt
February 22, 2012 Leave a comment
Since I’m going back to school within the next week for Finance Management I really wanted to reeducate myself on economics. It was something we were required to take in college, and although I did well, a lot of it has gone by the wayside. To really jump start my upcoming degree I wanted to get back on track. I will admit, my knowledge of economics and even of the economy is fairly average. Over the last several months I have taken a keen interest in the economy, stock market, money, investing, etc. I thought before I continued reading more about that stuff, I need to have a better understanding of the economy and how it works.
I picked up Economics in One Lesson by Henry Hazlitt because of the excellent reviews it has received. A majority of the reviews kept raving how much information is packed into such a simple, yet short, book. In hindsight this was perfect for me. Before I really jumped into the heart of things I felt that it was best to get the basics down and work my way up.
The book itself starts off with the most basic economic stuff. It doesn’t take a genius to understand that if company “x” didn’t make the control board for televisions, company “y” couldn’t sell them. The entire first couple chapters are based on this, and this alone. After that the book really jumps around from one topic to the next. Economics is hard enough to understand, especially when the book isn’t laid out to teach someone step-by-step. That’s why by the fourth chapter I really started to get upset with what I was reading. When I pick up a book to read I want to learn something. I love getting the author’s opinion on a certain subject, but I also feel facts and real life situations or moments are key.
The part that bugs me the most about the book is why I believe certain topics were chosen. Yes, some topics are chosen wisely with good information. However, I feel like he picked topics that personally bugged him and wrote them down on paper. When I’m reading this I’m getting the impression he is pissed off about this and that, and it should work like “this.” Throughout the rest of the book I feel like I’m reading about someones rants on economics. Right away in the beginning I noticed several chapters taught me absolutely nothing. Instead I got the feeling he had a strong opinion and wanted everyone to hear it. I’m not discrediting Henry Hazlitt’s work or knowledge, instead I feel like I’m challenging his writing methods.
You may be able to get past the ranting and find some useful knowledge. For me there are too many key economic points that should be addressed that were left out. Bottom line, would I recommend this book to a friend? No
