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ECONOMICS IN ONE LESSON

Henry Hazlitt


1946 8
1961

32
18 1961

1978 6

Morris R. Cohen

Frederic Bastiat
Ce quon voit et ce quon ne voit pas
4


Philip Wicksteed
The Common Sense of Political Economy
Ludwig von Mises

Thorstein VeblenMajor
DouglasAlvin Hansen

American ScholarNew Leader

1946 3 25

17

10

250

250

250

250

11

12

needdemand

13

Thomas MacaulayHistory of England

14

John Stuart Mill

15

16

17

500

1 000 1 000

1 000

18

19

20

21

1.5 3 600
24%

52

50%60% 70%
6 8 9
22

6 4 3

23

24

GDP

25

26

27

28

1932

29

1776

1 20

4 800
240 4 800
99.98%

1 000

William Felkin
History of the Machine-Wrought Hosiery Manufactures1867
30

40 50
000

19
100
Arkwright 1760
5 200 2 700 7 900

1787
27
7 900 32 44
1889 David A. Wells
Recent Economic Changes

1870 1880
2 200 1870 1880 3 000
2 990

1873 Bessemer 80
1886
20

1887
2 10
31

1889

1932

George Santayana

1941 3 Corwin Edwards


TNEC

32

1961

2
1970

19
Luddite

1945 9 19 32
Eleanor Roosevelt
33

34

1
2
3

elastic

35

150 100
50
50

18
1910
14 1920
25 1930
38 1973 94.1
1973 51.4 39.3

36


18 4

full
employment

37

38

39

48

40
50%
45
40

30 4

40
30 40 30

40 30

40

40 226
30 226
33.33% 7.53

40 --

10 40
--
33.33%
--

41

42

43

44

45

10

30 40

46

Petrillo

WPA

10

47

11

17 18

48

30 25
5

30
25 30

49

5 25
5

50

5 5
100
50 000
50 000

100 50 000

51

52

5 5
100 5

53

54

55

12

56

57


5,000

4,000
4,000 2,500 1,500

1975
15% 20%

10%

58

John Stuart Mill

59

13

1933

1929

1909 1914

60

60

1909 1914

1909 8 1914 7

1946
Chevrolet 1912 2,150 1942
907
3,270 1909 1913
22.5 1946 14 41
1978
1946 1978

1946
1955 1959 428
1939 1943 260 1909 1913
188 1968 1972
467
1968 1972 84 31.3
1935 1939 26.1 13.2
61

1946

62

2.50
3.50 1 1

1
1 1

AAA

63

64

65

14 X
X X
X
X

X
X

Guffey Act

35

2
66

X X

X
X
X
X

X X

67

X
ABC
X

3
X
X X

X
X
X
X

4
68

69

15

70

71

72

73

74

16

75

ever-normal granary

76

77

78

79

17

80


2.25 1.50

purchasing-power-rather-than-need

81

82

83

Federalist Papers

84

85

86

18

87

10~20

88

89

95%
5%
10%

90

91

19

40 106
106
106

92

X
X
X

2.65
40 106
70 70
90

106
93

106

106 2.75 110


4
106

94

95

20

96

97

123
456

100

10%
20% 30% 40% 50%

98

25%

25%

10% 20%
30%

99

Wagner-Taft-Hartley Act

100

0.1%

101

post hoc ergo propter hoc

70 60
60 48
48 44
40
102

35
30

1968 107.73 1977 8


189.36
103

1967
1968 103.39 1977 8 103.36

104

21

20 40
105


20%
30%

30%
30% 55%~160%

1976 113.96
207.60
284.93

106

30% 30%

30%

Paul H. Douglas
A. C. Pigou
3 4 1%
3%

30%
107

1/3
30% 10%

1929 1943 15
69% 1956 1960 5 69%
1972 1976 5 66%
76%
national product

2/3 3/4
30%
20%

84%

30%
30%

108

4
equilibrium

109

22

15

1929 1943 15
5% 1956 1960
6% 1971 1975 6%

profiteer
wageerlosseer

50 10
7 4
1930 1938

6% 1
5 1971 1975
4.6

110

10%

111

112

23

113

A A+B

114

115


A A
B B C
C D

A
B
B

ABCD A
30% B
20% 10% C
10% 15% D
20%

25%

D
25%
116


30% ABC

25% 50%
100%

100%
50%

117

118

multiplier

--

?
75 120

119

1776

120

24
121

50 000

Karl Rodbertus 19

122

25 000
25 000

25 000

12

123

hoarding

124

19

20%

2.5
11

100

80

20

102.5

82

20.5

105

84

21

107.5

86

21.5

125

110

88

22

112.5

90

22.5

115

92

23

117.5

94

23.5

120

96

24

10

122.5

98

24.5

11

125

100

25

11

25%
20%
80

100

126

127

128

1976 14%1977
16%1974 75%

17

capital proper

129

1960

130

25

131

x=5 x+y=12
y=7
7

132

133

William Graham SumnerForgotten Man


1883
A X B
X
C X AB C X
C

20 30 C
X C X
C

134

135

136

137

26

138

1946 32

1946
1926 30
1946 550 160
1947 350 40
1978 4,510 490
1947
1,130 1978 8 3,570

1946 58.5 1978


9 199.3

40
20
48 41
500

139

Redistributive State

20 70


400

44 1976
1,870 1971 1976
25% 2.5 1979 2,500
500
5 000

83%
140

98%

10
1977 10
50 1976
35% 40% 43%
50% 57% 47% 56%
61%cruzeiro 89%
99%

1977 6% 8.6% 9.1% 9.5% 14.5%


15.7% 17.5% 1977
30.8% 35.5% 53.9% 65.7%

141

1935
142

65

1975

1965

1935 3,000
1965 6,600 4.4%
1977 16,500 11.7%
1960 1977 572%
12%
1977 4.1

1978
60%
45% 5% 10%

143

Reason and Nature, 1931, p.x


144

Gunnar Myrdal, The Challenge of World Poverty


(New York: Pantheon Books, 1970), pp. 400-401 and passim.
7 2

1946 1 2

13 1

1937 Dan H. Wheeler

14 1

1956 8 1
1452.9

6
1961 8.5

16 1

145

17 1

1938 63

25 1945 1.02
40 1949
1.40 75 1955
1.88
1
1961
2.30
1.15 1963 1.25
1967 1.40 1968 1.60 1974
2.00 1975 2.10 1976 2.30
4.87 1977 5.26
2.65

19 2

A. C. Pigou, The Theory of Unemployment (1933), p. 96.

Paul H. Douglas, The Theory of Wages (1934), p. 501.

21 2

Frank H. Knight, Risk, Uncertainty and Profit

(1921)
22

The

Failure of the New Economics, New Rochelle, N.Y.: Arlington House, 1959

146

B. M. Anderson

The Value

of Money1917 1936
The Theory of Money
and Credit1935 1953

The Inflation Crisis, and How to Resolve It, New Rochelle, NY,: Arlington
House, 1978
23 2

Principles of Political Economy; Book 3, Chap. 14,

par.2
Principles of Economics; Book VI, Chap. XIII, sec.
10
A Refutation of
Keynes Attack on the Doctrine that Aggregate Supply Creates Aggregate Demand
Financing American Prosperity

The Critics of Keynesian Economics;


New Rochelle, N.Y.: Arlington House, 1960
23 4

Karl Rodbertus, Overproduction and Crises (1850), p.

51.
24 1

20%

12%
George Terborgh, The Bogey of Economic Maturity (1945)1977
16%

24 2

147

24 3

Galbraithians
24 4

George Santayana, The Realm of Truth (1938), p. 16.

25 1

Charles D. Hobbs, The Welfare Industry (Washington, D.C.:

Heritage Foundation, 1978).

148


Faustino Ballv
Essentials of Economics,
Irvington-on-Hudson, N.Y Foundation for Economic Education; 126
Percy L. Greaves
Understanding the Dollar Crisis, Belmont, Mass.: Western Islands,
1973327 Bettina Bien Greaves
Free Market Economics, Foundation for Economic
Education

Human Action, Chicago: Contemporary Books, 1949, 1966907

13 Murray N. Rothbard
Man, Economy, and State, Mission, Kan.: Sheed, Andrews and
McMeel, 1962987

Planning for Freedom, South Holland, I11.: Libertarian Press, 1952


Capitalism and Freedom, Chicago: University of Chicago Press,
1962
What Has Government Done to Our
Money?, Santa Ana, Calif,: Rampart College, 1964, 197462

The Failure of the New


Economics: An Analysis of the Keynesian Fallacies, Arlington House, 1959

Socialism: An Economic and Sociological Analysis, London: Jonathan Cape, 1936,


1969
Economic Sophisms1844
149

The
Common Sense of Political Economy, 1911John Bates Clark
The Distribution of Wealth, 1899 Eugen von
Bhm-BawerkThe Positive Theory of Capital, 1888
Karl Menger
Principles of Economics, 1871
W. Stanley JevonsThe Theory of Political Economy, 1871
Principles of
Political Economy and Taxation, 1817

150

[1] 1989 6.2 1993


2.4 40%
(Gerald W. Scully)
What is the Optimal Size of Government?, NCPA
188 1994 11 .
[2] W. Michael CoxRichard Alm
1992

20 1900 2 900
1991 1.16 The Churn
1992
[3] 5 000 20 000
David R. Henderson
Fun and Games With Inflation1996 3 18 36

[4]
Investors

Business Daily 1995 9 29 1986 1993


120 15
1993 96 000
GAO
1995 7 20 8
7.38 GAO

104
[5] 4.25 40
170
151

[6] 1981 3.35


1990 3.80 1992 4.25

Richard VedderLowell Gallaway


Should the Federal Minimum Wage Be Increased?NCPA
190 1995 2
[7] 15.5%1995 11
14
[8] 1996 1 4 40
60%Kenneth P.
Voytek 19591972 2.4%
19731994 0.8% 19591972
2.4 19731994 1% 1959
4%

1996 1 8
[9] 8
[10] 20 60 70
1012%80 8%90 9%
1996 1 8
[11] 10
[12] 1939 56
4.4%

152

1939 998%
1996 3 18 35
[13] 1992 2 900 1995
1 650 1995 10 5
[14] 40% 17.5% 33%
1996 Index of Economic Freedom
Brian T. JohnsonThomas P. Sheehy, The Heritage
Foundation, 1996. 1994 34%
The Economist1995 2 9 99
[15] 1994 2.8% 1.7%-2%
4.5% 2.4% 4% 45% 2 500% 40% 11%
5%
1996 , The
Heritage Foundation, 1996.
[16] 15.3% 2010

153


F. A. Hayek
1974

John W. Hanes

H. L. Menchen

154