advertisement 1
advertisement
SEARCH:
Sunday, August 20th, 2017                                                 SUBSCRIBE TO OUR RSS FEEDrss feed

Henry Hazlitt’s Books: More Relevant Than Ever

Published by on May 8, 2010

Henry Hazlitt’s Books: More Relevant Than Ever thumbnail

by Gideon Dene

THE WORKS of American Mercury contributor and editor Henry Hazlitt (he was H.L. Mencken’s chosen successor) are brilliant gems of economic insight which, if they were only more well known, could change the downward spiral of the West’s economic fortunes.

Did you know, for example, that inflation is not a rise in prices?

Did you know that “government economic stimulus” is in the fact the opposite of what its name implies?

Hazlitt was a man of logic, reason, and science who could also write with wit and style. He was a gentleman of the old school whom we’re proud to have had on the Mercury masthead. Hazlitt had his lapses. He favored a gold standard as a form of discipline, or enforced honesty, upon banks and governments, as he should have. But he failed to address the ways in which bankers can get around that discipline through fractional reserve banking.

His greatest contribution was to dispel the hoary shibboleths of economics that are, sadly, still taught in the schools and parroted by media talking heads. When Henry Hazlitt clears the cobwebs from your mind, you’ll probably say “Wow!” I did.

Two of his most important books have recently been republished in new editions. According to the Henry Hazlitt Web site:

The Inflation Crisis and How to Resolve It

The Inflation Crisis and How to Resolve It

Henry Hazlitt was not mainly a theoretician. He was a financial journalist, commentator, and interpreter of current events. In this sense, he was one of a kind: a learned economist with both feet in the real world of politics, financial markets, and the economics of everyday life.

The Inflation Crisis and How to Resolve It , newly in print in hardcover at a low price, is his masterpiece on money. The book reappears just in time: we are in the midst of an inflation crisis even if the effects are not yet fully felt.

By inflation, he didn’t mean rising prices. He meant the tendency of government and the central bank to print money in pursuit of prosperity. In this sense, no book could be more directly related to our own times, as Bernanke and Company use and abuse the power of the Fed as never before.

He begins with an overview of what inflation is and covers the abysmal record of government money management. He clearly explains the cause and effect: first comes the printing and then come the business cycles and price increases. He explains that the only real cure for all of the effects is to treat the cause: end the government’s power to print. For this reason, Hazlitt favors a gold standard.

From a reader point of view, Hazlitt’s book is pure pleasure. As Mencken said of him, he was the only economist of his generation who could really write. He is clear as a bell, and why? Because he had a passion for explaining economics to every living person. He did not think that economics should be left to the academy or to investment firms.

This book came out in 1978 and it’s been thirty years out of print. It is one that the Mises Institute wanted to have in print for many years, and it is an event to celebrate that it is finally here, in a beautiful edition at a rock-bottom price.

Economics in One Lesson

Economics in One Lesson

This is a new edition of the classic book that has taught many millions sound economic thinking. It is a hardbound volume, and now available for anyone who needs to understand what economics implies for the society, government, and civilization.

Hazlitt wrote this book following his stint at the New York Times as an editorialist. His hope was to reduce the whole teaching of economics to a few principles and explain them in ways that people would never forget. It worked. He relied on some stories by Bastiat and his own impeccable capacity for logical thinking and crystal-clear prose.

This is the book that made the idea of the “broken window fallacy” so famous.

The new edition is beautiful, it is hardcover, and it is newly typeset for modern readers. It has a full index. It includes a wonderful foreword by Walter Block.

This is the book to send to reporters, politicians, pastors, political activists, teachers, or anyone else who needs to know.

Professor Block explains that it was this book that turned him on to economics as a science. He believes that it is probably the most important economics book ever written in the sense that it offers the greatest hope to educating everyone about the meaning of the science.

Written for the non-academic, it has served as the major antidote to fallacies in the popular press, and has appeared in dozens of languages and printings. It’s still the quickest way to learn how to think like an economist. And this is why it has been used in the best classrooms more than sixty years. The new edition dispenses with the additions made by later editors, which only date the book, and reverts to Hazlitt’s own first edition.

Henry Hazlitt Web site

SHARE THIS VIA EMAIL OR SOCIAL MEDIA:
Email this to someoneShare on FacebookShare on VKTweet about this on TwitterShare on Google+Share on TumblrShare on RedditPrint this page

Related Articles:

Readers' Comments





  • Mary Phagan, fogotten victim
  • Literature, US News »

    Homeless Jack on “Grabbing Some Pussy”

    November 7, 2016

    Homeless Jack on “Grabbing Some Pussy” thumbnail

    We discovered this piece scrawled on some foolscap left on our doorstep, an all-lower-case Kerouac-style stream of consciousness rap, and offer it as we found it. by H. Millard trump is an american original and a throwback to the days when americans were bursting with confidence and energy and the sheer joy of freedom and […]

    Africa, History »

    ‘The Choice of Achilles’: John Alan Coey Against the New World Order

    January 3, 2013

    ‘The Choice of Achilles’: John Alan Coey Against the New World Order thumbnail

    by T.R. Bennington AS EVER, BUT ESPECIALLY in our present state of civilizational malaise, there is a need for figures with the power to inspire — men who in less confused and cynical times would have been unabashedly described as heroic. One such figure is Corporal John Alan Coey, a young soldier who has perhaps […]

    Science »

    Quarter of Americans Convinced Sun Revolves Around Earth

    March 2, 2015

    Quarter of Americans Convinced Sun Revolves Around Earth thumbnail

    “DOES the Earth go around the Sun, or does the Sun go around the Earth?” If you answered the latter, you’re among a quarter of Americans who also got it wrong, according to a new report by the National Science Foundation. A survey of 2,200 people that was released Friday revealed some alarming truths about […]

  • Reader’s Comments

  • Categories

  • Archives

  • Pages

  • Login / Register / RSS

  • Vintage Mercury »

    Jailbirds

    June 7, 2017

    Jailbirds thumbnail

    by Jim Tully; from The American Mercury, September, 1928; transcribed by Kevin I. Slaughter THE jail room was thirty-five feet long, twenty-five feet wide, and seven feet high. In this large cage were fifty prisoners. Some had been sentenced and were serving jail terms; others awaited trial, or removal to the penitentiary. The floor was of […]

    Opinion »

    The Old Right and the Antichrist

    June 7, 2017

    The Old Right and the Antichrist thumbnail

    by Richard Spencer (pictured) The following address was given to the H.L. Mencken Club’s Annual Meeting; November 21-23, 2008. BEFORE William F. Buckley settled on writing God and Man at Yale in 1951, the 25 year-old had something quite different in mind as a debut volume. Buckley planned, and may have begun drafting, a book caustically […]

    Literature »

    The Fame of a Dead Man’s Deeds Audio Book: George Bernard Shaw, et al.

    August 10, 2017

    <em>The Fame of a Dead Man’s Deeds</em> Audio Book: George Bernard Shaw, et al. thumbnail

    by Bradford L. Huie for The American Mercury TODAY Vanessa Neubauer’s reading of Professor Robert S. Griffin’s masterful biography of Dr. William Luther Pierce, The Fame of a Dead Man’s Deeds, continues. This week we present insights into William Pierce’s philosophical and intellectual influences, beginning with great playwright George Bernard Shaw (pictured). This audio book will be […]

  • Names and Topics



  • FEATURED ARTICLES

    History »

    New Audio Book: The Murder of Little Mary Phagan

    December 31, 2015

    New Audio Book: The Murder of Little Mary Phagan thumbnail

    A NEW authorized audio book version of The Murder of Little Mary Phagan by Mary Phagan Kean has just been recorded for The American Mercury, and will serve as the capstone of our series on the Leo Frank Case in this, the centennial year of the death of the convicted murderer in this case, Leo […]

    History »

    The Astounding Alonzo Mann Hoax

    September 25, 2015

    The Astounding Alonzo Mann Hoax thumbnail

    by the Editors of The Leo Frank Case Research Library IN 1982, Alonzo Mann dropped what appeared to be the biggest bombshell imaginable into the Leo Frank case — though it was sixty-nine years after the fact. Mann, who’d been Leo Frank’s fourteen-year-old office boy in 1913, stated that he had kept a secret all […]

    History »

    The Amazing Story of Mrs. Leo Frank

    September 19, 2015

    The Amazing Story of Mrs. Leo Frank thumbnail

    A Biography of Lucille Selig Frank (1888 – 1957) by the Editors of The Leo Frank Case Research Library WHEN WE FIRST meet Lucille Selig Frank (pictured), she is attending the opera on April 26th, 1913 with her well-to-do friends and mother, Josephine — while, a few miles away, a young teenage girl lays freshly […]

    History »

    Leo Frank: The Coroner’s Inquest

    August 17, 2015

    Leo Frank: The Coroner’s Inquest thumbnail

     PART 1: INTRODUCTION FOR THE FIRST TIME in history, we now have a full, unexpurgated digital record of all the contemporary reports about the Coroner’s Inquest which took place in the wake of the murder of Mary Phagan. Thanks to the hard work of Penelope Lee of the American Mercury, who typed every word by […]

    Classic Essays »

    Concerning Inflation

    July 23, 2015

    Concerning Inflation thumbnail

    by Garet Garrett NO ONE WOULD be so absurd as to propose that you might restore a nation’s prosperity by changing its weights and measures. Suppose the Government should say, on behalf of the wheat farmer, to increase his income, “Hereafter the half bushel shall be the legal full bushel”; and on behalf of the […]

    Science »

    Quarter of Americans Convinced Sun Revolves Around Earth

    March 2, 2015

    Quarter of Americans Convinced Sun Revolves Around Earth thumbnail

    “DOES the Earth go around the Sun, or does the Sun go around the Earth?” If you answered the latter, you’re among a quarter of Americans who also got it wrong, according to a new report by the National Science Foundation. A survey of 2,200 people that was released Friday revealed some alarming truths about […]

    History »

    The End of Commercial Man

    March 2, 2015

    The End of Commercial Man thumbnail

    A MORE THAN casual look at The Environmental Movement shows it to be mostly a facade of noisy rhetoric. If the speechifying is largely surrealistic, the problems are real. Basic resources for industry, as well as exotic ones, are getting scarcer. Cheap oil is a thing of the past. Even if there are no real […]

    History »

    Rita Potter, American Mercury Executive Secretary, Dies at 98

    February 24, 2015

    Rita Potter, American Mercury Executive Secretary, Dies at 98 thumbnail

    RITA M. POTTER (pictured), 98, of Ridgefield, Connecticut died on Saturday, Feb. 21, 2015. She worked for the American Mercury as an executive secretary to Editor Paul A. Palmer in 1938, and, after a period of service as a WAC member in World War 2, returned to the Mercury in 1946, again in an executive […]

    Vintage Mencken »

    A Primeval Uplifter

    February 12, 2015

    A Primeval Uplifter thumbnail

    LUCY STONE: Pioneer of Woman’s Rights, by Alice Stone Blackwell; Boston: Little, Brown & Company; reviewed by H.L. Mencken IF THIS biography is a shade partial the fact is surely not surprising, for Miss Blackwell is not only Lucy Stone’s daughter but also a firm believer in all of the reforms that she advocated, excluding, […]

    Classic Essays »

    Oliver on Homosexuality

    February 11, 2015

    Oliver on Homosexuality thumbnail

    Originally written for inclusion in Frederick Seelig’s book Destroy the Accuser, this is Professor Revilo P. Oliver’s learned and insightful analysis of the homosexual question. by Revilo P. Oliver (pictured) THE APPALLING STORY told by Mr. Seelig in the foregoing pages is much more than a personal tragedy that must excite sympathy and pity in […]