Economics in One Lesson Paperback – 20 May 2010

I read this very quickly and enjoyed almost all of it, the only exception was some areas that were a bit repetitive as similar examples were given of the same point. The key lesson though being that economic policies are often designed for the group most immediately affected, but ignore the long-term, secondary and tertiary effects on everyone else. Some great examples of this are then given. It's also all written in an engaging and enthusiastic style, making it easy to read even for the non-expert.One point just to make though is that despite the title this is not an introduction to economics for a beginner. Instead this is a summary of his frustrations with common economic proposals, so it's easier to read if you already have some economics under your belt.Finally I'd mention that the author has some clear ideological views that he tries to push. A lot of this is because he repeatedly refutes arguments because they result in an inefficient economy, taking the view that a perfect world is one where every task is done by the person/country/company that can do that task most efficiently in terms of least capital, resources and personnel. This ignores two key points. Firstly, systems often have to sacrifice efficiency for robustness, and sometimes having inefficient local production subsidised in some way is useful as it is insurance against supply disruption. The other point is that at no point does he mention inequality as a factor. I'd think that there are many trade-offs where aggregate human happiness is greater with a smaller pie, more evenly shared, than a larger pie unequally divided.Overall though a good book, and a nice quick read. Whether you think government involvement in the economy should be increased or reduced this is a good book to read, making the argument for limited government involvement in the economy clearly and concisely, against which the reader can form their own view.

I would recommend this book for everyone who is really interested in economy.I choose this rating because it explains the idea of `free market` which is in this case an economy in which government and bureaucrats creating it make as little amount of regulations as possible. In the beginning of the book author says that it is his intention to convey his message to as wide number of people as possible. That is why he decided to use every-day language in its simplest form. I think that he menage to do it. Thanks to the simplicity of the language I could understand his lesson.In this book he gives numerous examples in which he shows government attempt to regulate an economy in the name of ..., to make it better and to improve the wellbeing of some groups of interest. He shows how those acts and policies often have unintended consequences which in many cases have derogatory effects on economy as a whole. He reminds as that as with many things there are two sides of the story, one negative and one positive.If you read it then you will be able to notice deceptions and illusions which are created intentionally or not by bureaucrats and politicians and other economist.It is a small refreshing book. In the end of the book you will be rewarded with a nice list of books to read.Everyone can read it, and that is what makes this book amazing. It was pleasure to read it because.If there is a common sense then this book is full of it. You will be surprised how insightful his observations are, just enough to convey the idea without loosing someone in detail.Someone in reviews wrote that this book is not about economics. That person is wrong. It`s all about economics. It is about the world in which we live and our cooperation with each other in it. It shows how that cooperation can improve our lives or not, and what has positive or negative impact on it.

I'm not an economist. This book explains much of why our societies are going the way they are and I appreciate it very much. I gave it 4 rather than 5 stars because like most economists the writer gives too little attention in my view to the role of cheap excess energy since WWIIBut well worth the money!

I bought this some time ago and it ended up in the 'to read' pile. As I was going on hols I thought I should read it as it was recommended. Glad I did. The book does not go into minute detail but takes the line of a thorough overview, the policies enacted and the 'wisdom' of the present age on economies, shining some most needed light. It reveals the smoke and mirrors of politics, the effects along with unseen and generally ignored side effects of policy. Simply put economics is a zero sum gain. If someone wins there is a loser. If the government taxes to give to someone else, someone loses. If there is a work program to help a section of the community it comes at the expense of another part of the community. As the vision of politicians and the media is so narrow you rarely see the wider implications. This book will give you those wider implications and despite the assurance of our leaders it is getting better and that they have the answers. The reality is they do not have the answers, they are doing what has been proven to fail in the past and things are getting worse. There again looking today at the economy, jobs, prices and inflation we know that anyway. This book will give you a perspective to understand why this is the case. It also will show why productive wealth creating jobs that seem so despised are essential while their replacements may not be. Just look at the rise of bureaucracy and regulation, there are becoming more people to prevent you from doing any useful productive work than actually carrying it out. Altas Shrugged before one's own eyes.