Called by H.L. Mencken, "one of the few economists in history who could really write," Henry Hazlitt achieved lasting fame for this brilliant but concise work. In it, he explains basic truths about economics and the economic fallacies responsible for unemployment, inflation, high taxes, and recession. Covering considerable ground, Hazlitt illustrates the destructive effects of taxes, rent and price controls, inflation, trade restrictions and minimum wage laws. And, he writes about key classical liberal thinkers like John Locke, Adam Smith, Thomas Jefferson, John Stuart Mill, Alexis de Tocqueville and Herbert Spencer.

"If there were a Nobel Prize for clear economic thinking, Mr. Hazlitt's book would be a worthy recipient... like a surgeon's scalpel, it cuts through... much nonsense that has been written in recent years about our economic ailments." -J.W. Hanes (former Undersecretary of the Treasury)