Economics in Three Lessons and One Hundred Economics Laws : Two Works in One Volume

Economics in Three Lessons: Henry Hazlitt's Economics in One Lesson, published in 1946, sold more than a million copies, and is perhaps the best-selling economics book of all time. In Economics in Three Lessons, Hunter Lewis, a Hazlitt admirer and student, provides a sequel and an update to Hazlitt's classic introduction to economics. One Hundred Economic Laws: In a groundbreaking companion work, One Hundred Economic Laws, Lewis has drawn together the most important laws of economics. Everyone accepts the laws of physics. Are there also economic laws? Can understanding them improve our lives? Economics in Three Lessons Henry Hazlitt's 1946 book Economics in One Lesson sold more than a million copies. It is perhaps the best selling economics book of all time. In this volume, Hunter Lewis, a Hazlitt admirer and student, provides a sequel and update. The central lesson of Hazlitt's seminal work is that economic thought and policy must consider all the consequences of an action, not just the immediate or most visible ones. Hazlitt is right that this is the kernel of all good economics. Lewis covers this theme and also introduces two more lessons: how a free and uncontrolled price system creates prosperity and how a controlled or manipulated price system creates only crony capitalist corruption and, ultimately, poverty and economic failure. The great merit of this volume is its simplicity. Anyone can read and understand it. It is an ideal introduction to economics. One Hundred Economic Laws In this groundbreaking volume, Lewis does what no one has attempted to do, at least not for many decades. It collects in one place some of the most important laws of economics. Everyone understands the importance of understanding the laws of physics and other natural sciences. Are there also laws of economics? Can understanding them also make our lives better? This volume answers with a resounding yes to both questions. We need the laws of economics to help guide our choices and actions in a very uncertain world. We also need them to protect us from the “thinkers for hire” who, paid by special economic interests, try to persuade us to ignore reality. This short book is also a complete course in economics. Unlike the dry-as-dust and often irrelevant textbooks forced on high school and college students, it is written in a lively and even sparkling style. Economics in Three Lessons Lesson One: Sustainability Chapter One: Henry Hazlitt's Invaluable Insight Lesson Two: The Free Price System Chapter Two: The Central Role Played by Free Prices Chapter Three: What Prices Do for Us Chapter Four: The Role of Profits in Driving Down Prices Chapter Five: Who Are the Bosses in a Free Price System? Chapter Six: "Spontaneous Order" from Free Prices Chapter Seven: The Essential Role of Loss and Bankruptcy Chapter Eight: What About Inequality? Chapter Nine: Why Greed Is Not "Good" in a Free Price System. Lesson Three: Enemies of the Free Price SystemChapter Ten: Crony Capitalism Chapter Eleven: Laissez-Faire Contra the Cronies Chapter Twelve: Today's Crony Capitalism Chapter Thirteen: The Crony Capitalist Conundrum Chapter Fourteen: The Progressive Paradox Chapter Fifteen: Where Does This Leave the Poor? Chapter Sixteen: How the Fed Fits In Chapter Seventeen: The Fed's Conflict of Interest Chapter Eighteen: Who Exactly Is Feeding off the Fed? Chapter Nineteen: Keynes's General Theory: The Crony Bible Chapter Twenty: Saying Goodbye to Crony Capitalism Endnotes. One Hundred Economic LawsPreface Chapter I: Laws of Economic Analysis 1. Law of Analytic Laws: If ... then analysis assists us just as much in the social realm as in the physical realm. 2. Corollary A of Law of Analytic Laws: Material Life (If we restrict our inquiry to material life, we will misunderstand economic laws.) 3. Corollary B of Law of Analytic Laws: Boundaries (If we look for economic laws only outside ourselves, we will also misunderstand them.).