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As a young man, I bruised my forehead rather severely. I inflicted this wound upon myself by repeatedly slapping my forhead over the plain-to-read common sense in the pamphlet Common Sense, written by Thomas Paine in 1776. I kept slapping my forehead because it made perfect, common sense to me when I read it over 200 years after it was first published.

This book, Economics in One Lesson by Henry Hazlitt has generated a similar self-inflicted wound.

Mr. Hazlitt wrote this in 1946, ten years after John Maynard Keynes wrote The General Theory of Employment, Interest and Money, which is the bible for Keynesian Economics today. Economics in One Lesson lays out plainly yet with elegant prose concepts that explains economics as what I call a "delayed art form." I mean that in this way: In the age old Art vs. Science argument, if you can quantify the elements and reliably replicate action A producing result B, it's a science. Everything else is Art. In economics, action A will more than likely produce something approaching result B, but not always, six months to a year (sometimes even longer) after the initial action. This is because of Microeconomics, the thousands of transactions that occur daily in an economy. It takes time to make all of the transactions that culminates in a person purchasing a product from a business.

Think of putting a decorative cling on your window. Invariably, there will be some air bubbles trapped between the cling and the glass. Even if you are extremely careful, trying to "squeegee" the bubbles to the edge and get rid of them will result in those bubbles moving in almost any direction but where you want them to go.

When God created the Law of Unintended Consequences, He was thinking about economics. Mr. Hazlitt shows plainly using the "broken window" fallacy that when someone, a consumer or a business, is coerced in one way or another to buy a product (in this case, a Baker has to buy a new window because a miscreant broke the original) a great victory is proclaimed because the Glazer (the person who produces glass and windows) has business. But what about the Tailor, or the Plumber, or any other tradesman? Say the Baker was going to buy a new suit because his present clothes are tattered. Or, the plumbing is leaking in his home. The Baker is forced to spend his limited resources to replace the window and thus postpone getting new clothes or his pipes replaced. This story is repeated every time a choice is forced upon a consumer or a business.

Read this book, please. Then you can attend the free, online video course Economics 101 by Hillsdale College and grasp those concepts with a lot more understanding.