Last night a packed crowd at COB enjoyed The Nassau Institute and Temple Religion Trust's speaker Dr. Thomas DiLorenzo on "How America Became a Corporate Welfare State - Lessons for The Bahamas".
In his vote of thanks, Jorge Borlandelli, noted how important it was for each of us to study economics and this reminded me of a little book that got me excited about it.
That book is Economics in One Lesson by Henry Hazlitt.
In September 8, 2008 I as asked to write a brief article on a book that influenced my life.
My contribution follows:
"For about two decades I felt trapped within the constraints of the thinking of political parties, and while I might be more supportive of one party over the other, being literate has helped me become more independent in my views.
"Let me explain a little more.
"Knowing my involvement in politics, someone recommended I read a book by Henry Hazlitt titled Economics In One Lesson. If I remember correctly that was in 1994.
"Well, that wonderful little book of only 201 pages changed my life. At least as far as politics is concerned.
"As Mr. Hazlitt pointed out in the preface to the first edition, back in 1946, "Economics is haunted by more fallacies than any other study known to man".
"Well he sure explodes them. From price control, to government spending to the effects of taxation and rent control, he deals with them all in straight forward language that anyone that has the ability to read can understand.
"The central message that I must share is his point that "The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups."
"Mr. Hazlitt taught me, in a nutshell, that the rhetoric of much of our politics is to make us feel good in the short term, without consideration for the lives of those that will follow."
You can read the book at FEE.org here...
