This is off the security topic, but I was really excited to find this online, so deal with it. Everyone who votes needs to understand this. We have all heard the fallacies before, and it's hard not to disagree. When people need jobs, why can't the government create jobs with public works projects? Don't all those cheap imports from foreign countries, low-wage immigrants, or machines take our jobs and make us worse off? Soon they won't need us anymore! We can reduce the cost of rent, gas, or anything else with price controls. Won't that help everybody? Don't economic incentive programs stimulate the economy and create jobs?
So we elect those into office who will fix these problems. And those who disagree are labelled heartless and corrupt, putting the interests of the big and rich over the poor and helpless. But it's not true.
Economics in One Lesson is one of the best things I've ever read that explains how this stuff actually works in a way that's really interesting (at least to me). So please, put down your article about Lady Gaga and take a few hours to read this, or maybe half of it. Then like me, you'll probably think it's interesting and finish reading anyway or at least you'll understand basic facts about life and I won't be worried when you vote.
So here it is, read it: http://library.mises.org/books/Henry%20Hazlitt/Economics%20in%20One%20Lesson.pdf
#1 by vesh on April 12, 2013 - 9:25 pm
Economics in one lesson is an awesome read, the broken window fallacy, especially. I believe Rothbard’s Man, Economy, and State has some key items that I thought were missing, but would still be good entries. Namely, the evolution of money and central banking theory. Capital Based Economics by Dr. Garrison is a good supplement to Hazlit’s book as well.