Podcasts about economics in one lesson

In this episode I look at the basic premise of economic theory as presented by Henry Hazlitt in his classic Economics in One Lesson. I look closely at his discussion of tariffs, and provide a counter-argument that examines the tax burden of tariffs and the elasticity of supply and demand.

Don't miss this episode of the California Liberty Project, in which Blas Vegas Carrasco and I dive into a free-market classic for the ages: Henry Hazlitt's Economics in One Lesson. This short book serves as a powerful primer that will help you tear down every common economic fallacy that floats around today. Blas and I cover topics such as minimum-wage laws, rent-control laws, price controls, the "broken window" fallacy, "public works" projects, and also the highly entertaining movie Falling Down. Check out Economics in One Lesson on mises.org Follow Blas on twitter Follow California Liberty Project on twitter California Liberty Project on Instagram Visit californialibertyproject.com Check out AP4LibertyShop! --- Send in a voice message: https://anchor.fm/californialibertyproject/message

Yes, we must not forget Joe Smith, but we must also remember to remember Tom Jones, Ted Brown, and Daisy Miller   Music by: HoliznaCC0 https://freemusicarchive.org/music/holiznacc0/

As we continue chapter 7, we really began to see how Mr. Hazlitt begins to dismantle accepted concepts but simply expanding his perspective passed the directly involved parties

At the surface, it would seem that the employment of machines would only lead to the unemployment of man But when you dig a little deeper, and cease to think in such extremes, you'll see that machinery not only increases production but also opens up new employment opportunities that may not have been possible otherwise Nothing is inherently bad, it's all about how it's put to use...   If you'd like to read along: http://www.hacer.org/pdf/Hazlitt00.pdf

Shalom, God bless you. --- Send in a voice message: https://anchor.fm/storytime-revolution/message

Thank you for listening, God bless you! --- Send in a voice message: https://anchor.fm/storytime-revolution/message

This episode is also available as a blog post: http://donnyferguson.com/2021/02/12/economics-in-one-lesson-minimum-wage%e2%80%90%e2%80%8bfederal-finances-edition/ --- Send in a voice message: https://anchor.fm/donny-ferguson/message

In the sixtieth episode of Beyond Talking Points, Matt and Matt discuss the Austrian School of Economics. Matt Keck is a proponent of Austrian Economics, and Matt H is only beginning to go beyond the basics in the field of economics. Matt H, therefore, absorbs some Austrian economics content, and pelted Matt K with a thousand and one questions. We hope this gives the audience a greater understanding about these issues. We touch on several things such as scarcity, human action, interest rates, inflation, the Austrian Business Cycle, and misallocation of resources.

Music by: M. Fasol

VolumesOfValue presents insightful reviews of nonfiction books. Expand your horizon with our select list of books which impact society. This episode reviews - Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics By Henry Hazlitt (1894-1993) Publisher Three Rivers Pres, 1978 edition (first edition 1946) Print length 218 pages. The book's Contents include 26 chapters. Download: Get Your Free Economics One Lesson Book at mises.org A transcript of this review is at volumesofvalue.blogspot.com. Please, like, share, and follow/subscribe to VolumesOfValue. Gab MeWe Newsletter Twitter USA.Life

Hazlitt takes on a humble objective: to deliver an “unblushingly ‘classical,' ‘traditional,' and ‘orthodox'” synthesis of economics. This is the most fitting way to approach the layman, who will only retain a few lessons from an introductory book. Original Article: "Economics in One Lesson Is Still the Best Layman's Intro to Economics" This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.

Hazlitt takes on a humble objective: to deliver an “unblushingly ‘classical,' ‘traditional,' and ‘orthodox'” synthesis of economics. This is the most fitting way to approach the layman, who will only retain a few lessons from an introductory book. Original Article: "Economics in One Lesson Is Still the Best Layman's Intro to Economics" This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.

Much taken from the writings of Claude-Frédéric Bastiat ; 30 June 1801 – 24 December 1850) was a French economist, writer and a prominent member of the French Liberal School.A Freemason and a member of the French National Assembly, Bastiat developed the economic concept of opportunity cost and introduced the parable of the broken window. He was described as “the most brilliant economic journalist who ever lived” by economic theorist Joseph Schumpeter.As an advocate of classical economics and the economics of Adam Smith, his views favored a free market and influenced the Austrian School. He is best known for his book The Law where he argued that law must protect rights such as private property, not "plunder" others' property.

Much taken from the writings of Claude-Frédéric Bastiat ; 30 June 1801 – 24 December 1850) was a French economist, writer and a prominent member of the French Liberal School.A Freemason and a member of the French National Assembly, Bastiat developed the economic concept of opportunity cost and introduced the parable of the broken window. He was described as “the most brilliant economic journalist who ever lived” by economic theorist Joseph Schumpeter.As an advocate of classical economics and the economics of Adam Smith, his views favored a free market and influenced the Austrian School. He is best known for his book The Law where he argued that law must protect rights such as private property, not "plunder" others' property.

In this chapter, Mr. Hazlitt highlights how taxes make the financial risks of being an employer, as well as, the time involved with working for someone else or a governing body, is not worth the investment(s)   "In brief, capital to provide new private jobs is first prevented from coming into existence, and the part that does come into existence is discouraged from starting new enterprises"

With the holidays upon us, we share our recommendations for 7 books that will make excellent holiday gifts.  --- Transcript   Tom: Greetings, and welcome to The Remote Real Estate Investor. On this episode, we're coming into holiday season and with holiday season, it's gift giving. So we're going to talk about on this episode, our favorite books that we have read to help us with our investing career. And we're gonna talk about why we like them some highlights over them. And this could be something you give to yourself or give to a friend. All right, let's do it. How is everybody doing today?   Michael: Stuffed still from Turkey and pie.   Tom: Nice. Lowkey he goes, just go to family stuff.   Michael: Yeah, we just stay put. My wife and I we had a friend in town. We adopted a friend as part of our family. So had something at the house hung out. It was great,   Tom: Nice, Emil?   Emil: We had some family over in the backyard. It was windy and cold that night in Los Angeles, which is rare. So everyone was in cold turkey and mashed potatoes by the time we brought it to their table. But you know, it was good times.   Tom: Yeah, Pierre?   Pierre: So I just went down to visit family had Thanksgiving with my mom and my sister. And then you know, got out and hiked at Big Sur and had a grand old time.   Michael: Nooiice.   Tom: Nice, it was beautiful out.   Pierre: It was gorgeous. Yeah, it was beautiful.   Michael: Tom, would you get up to man? Tom: Oh, lowkey. Little mother in law, Thanksgiving dinner, very lucky. Usually with the holidays. I'm like, my parents are local. And my wife's parents were like bouncing from house to house. But to limit the exposure, we just did one house and it's kind of mellow, kind of mellow like that. But let's go ahead and jump right into it. So on today's episode, as we mentioned, it's going to be the books episode. So this could be used as a gift for yourself, for somebody who you think might get value out of it. But let's go and start with Michael. Michael, what is the book that you're bringing to the table to talk about first?   Michael: The book that I'm gonna bring to the table talking about first is a classic. It's been talked about for years and years. And I think so many real estate investors have gotten so much value out of it. And that's Robert Kiyosaki Rich Dad, Poor Dad.   Tom: Hmm.   Michael: And so he's a pretty prevalent author. He's written numerous books, but this is the one that I kind of set me off on my path to real estate investing. And it's funny, I always say that it it kind of summarized what I had always known and kind of thought was true, but put it really nicely into a packaged sentence in Word format, because I'd always have these jumbled ideas in my head. And then I read this book, and I was like, Oh, yeah, like, that's what I've been trying to say, for all this time. And it's a super easy read. It's not complicated. It's more of a mindset book and a mindset shift book. And it's super straightforward, very easy read very simple, simple concepts.   But at its highest in its highest level, most basic level, it basically says buy assets don't buy liabilities, that's what it boils down to. And so if you can do that more times than not, you'll end up net positive, and that should be good. And so it doesn't talk about how to invest in real estate, it doesn't talk about the mechanics of what that looks like. It just talks at a high level, hey, these are some things that you should be thinking about, and different ways to be thinking about some of the things you probably already know. And so he tells the story from a child's perspective, and it was just super great read.   Tom: I bet you so many people have had their real estate awakening, like to that book, like, wait a minute, like, I want assets. I think that's been such a common I don't know in disgust talking to other people that Rich Dad, Poor Dad is just such an eye opener, because I mean, it's really easy to have the fallacy of thinking of things that are really liabilities and thinking of them as assets. You know, I don't know, cars and stuff that just that's No, no, it's not I remember I read that I was listened to as an audiobook just at a college and they were talking about real estate was one really big piece of it and systems with the other. And so I'm like, Okay, I'm gonna build my career around systems and real estate and just like, you know, ran with it.   Michael: And here you are, here I am. Yeah, it's like everybody's first. You know, they all talk about the shared experience. And yeah, like you said, so many people get started. I feel inferior. Have you guys read that book?   Pierre I have. Yeah.   Emil: What's funny is like every real estate investors Bible, I hadn't read it till like four months ago, because everyone's like, oh, rich, Dad, Poor dad's best. And it was good. I was happy I read it. I think if you've already gotten into real estate investing, it's like you said it kind of already distills why you got into it in the first place. Hundreds of people have regurgitated what has been said in it. So by the time you get if you haven't read in, you're already investing in real estate and you follow the real estate investors read blogs or whatever. You've already gotten most of those lessons. It's just getting it from the original source he's like the OG on a lot of this stuff that most real estate investors talk about. So glad I read it. Great book. More people should read it definitely changed a couple of things for me so glad I read it.   Tom: Good point. Probably more of a beginner more entry.   Michael: Yes.   Tom: Maybe you have a friend who or partner or whatever sibling Why are you buying real estate on the other side of the country? Why are you both you know, like,   Michael: Yes,   Tom: Yeah if you already like the Kool Aid taste, you don't need to drink more kool aid for this stuff.   Michael: That's right.   Emil Yeah, There's more stuff in it than just real estate investing though I think like if you're in real estate investing, and let's say you have a full time job, he talks about business and the idea of paying yourself first and all these other concepts, which those were a little bit newer for me, like I've always heard pay yourself first, but he kind of actually frames it a different way than I had originally thought pay yourself first. I won't spoil it. But I think even if you're in real estate, there's like business lessons in there. There's other lessons that a lot of people can get stuff out of.   Michael: Dig it.   Tom: Emil, you're up next.   Emil: Alright, so first book and keeping it real estate investing related. I got one rental at a time, which is by our good friend who has come on the show a couple times. Michael Zuber, it is also not a how to book but is the story of his journey. And I like that he's a working professional, which I think a lot of people listening to this show can relate. We're not very few of us, if any, you know, our full time real estate investors right now. We have a full time job. So balancing being a real estate investor and full time job and all those things. I think it was a really unique story.   I don't think you read a lot about those. You know, you hear more about someone who quit their job went into real estate full time flipping this and that, but he is a buy and hold investor hear about his 15 year journey through real estate and how he achieved financial freedom. I love it. Great book. I recommend it to a lot of people. And Michael's a really smart guy. So definitely recommend if you haven't read it, read it. If you have send it to a friend. It's one of my favorites.   Michael: It was interesting, because we had him on the podcast, before I had had a chance to read his book, or you guys had had him on he was on and you guys interviewed him a while back. And then I picked up his book. And then we had him on the podcast. And I was like, Oh, I liked the book so much better after having heard him speak and just realizing that like, Yeah, he's just a guy. He's just a dude, like super cool guy super down to earth person. He's not this high and mighty, you know, you have to do this. You have like God, like, this is my story. It worked for me, maybe I can help you too. That's great.   So I think you hit the nail on the head of nail, it's very much mindset shift. And he kind of breaks it down into a little bit more granular of like, this is what I did kind of like on a step by step basis. And it's not so overwhelming. He really did eat the elephant one bite at a time. I think when we see or hear about real estate success stories always see is that person at the mountaintop, but we don't see all the blood, sweat and tears that they left on the way up getting there. And so he kind of talked about that a little bit, which I thought was really humanizing.   Emil: Yeah, it's rare to read the full story. You know, a lot of times, it's like, you just see the guy or gal who has 200 doors. And it's like, How the heck did you get there? And this book, like really distills it all down, which is it's fun to read.     Tom: Yeah. What I liked about his book, and him is he's like an open book. So like, I think real estate can oftentimes be guilty of putting terms and acronyms and making it sound more fancy. And like pretentious than it really is. I think, Michaels Zuber does a really good job in his book and just talking to him of being really practical and giving specific actionable stuff and saying, no, it's very doable. This is what I did XYZ, and not throwing a bunch of jargon and leaving parts out and talking about it. So as an open book, I think is the best way to describe him, as well as the book and talking through his experience in a very non hoity-toity or non…   Michael: Just uses layman's terms.   Emil: It's not intimidating.   Tom: Yeah, exactly. Yeah. And he's just stripped that away. So great book Emil, front of the pod.   Michael: The other thing that I like about that, before we move on is that a lot of people talk about how difficult it is to invest in California, or how hard it is to make the numbers work in California, but he did it. And so people could say like, Oh, yeah, he had a California salary. But you can take the same thing and scale it to any other part of the country. Right? If you're not investing in California, you don't need a California salary. So if you can go live in the Midwest and earn a Midwest salary, you can go invest in the Midwest and things scale, oftentimes geographically. So I think I don't know if that makes sense, or if that's material to us, but whatever.   Tom: I dig it. All right Pierre.   Pierre Sure. Yeah, I'll deviate from the whole real estate theme. And I'm going to recommend an old book here. I think this one's from 1946. And it's called Economics In One Lesson by Henry Hazlitt, not overly sophisticated not using jargon, it's very accessible. He systematically destroys 20 economic fallacies with cool calm logic and historical evidence to back it up. And the whole point of the book is to show how to feel good or do good economic policies that are meant for a specific interest group can often have adverse outcomes for the general public, hurting everybody. So it pushes back against these currents of economic thought, and showing how the inconsistency in the principles that they're derived from can cause some pretty destructive effects in practice.   So like each chapter, he just takes on one fallacy at a time and destroys it with simple language. And it's super easy to understand. And so really great entry point into reading economics. And it's fascinating to see how some of these fallacies that he was talking about back in the 1940s are still so prevalent today. And that are kind of the rallying cry of so many of the political movements today from both sides. So it's fascinating to see how on the nose this guy was back then and how relevant his arguments still Is today.   Michael: What was one of the best fallacies see debunked.   Pierre: So he starts with like the most simple ones, the broken windows fallacy, and its cousin the blessing of destruction, how different economic prosperity has come from war, and then the curse of machinery. How a lot of people are mistaken about how these labor saving devices are putting workers out of work and hurting society as a whole. He talks about like, who the tariffs actually help, and this drive for exports, and is it really beneficial. I won't dive into each of these arguments. So you can go and read it. It's a short book, it's only about 200 pages, or a little less than 200 pages, but parody prices, saving specific industries, how  prices actually work, what government price fixing, does what rent control actually does, what minimum wage laws do the function of profits and inflation and stuff like that   Tom: Two things I like, but I haven't read it. I'm adding it to my queue. But something that was written a long time ago, and still getting super high reviews, I just looked at the Goodreads. It's like the rotten tomatoes score of moving on, you guys have seen that for and it's like four plus, which I automatically like, and then also something about brevity being kind of short and concise.   Pierre: Yeah. And the version that I have the forward is by Steve Forbes, and it's recommended by Nobel laureates like Frederick Hayek and his teacher listed on Nice's the pillars of Austrian economics and the Austrian economic business cycle, the main takeaway that I have from it is just thinking about how something that might look good for a specific group right now in the short run will almost always hurt the general interest in the long run. And once we implement these policies, it's super hard to undo them. So we get stuck with these policies that are delivering the exact opposite of what its stated purpose was.   So it's really good to be able to look in and say like, oh, there's a second, third, fourth order effect of this thing. And we should be very careful before quickly adopting something that sounds pretty nice and romantic. And if you want it for free, the Mises Institute gives it away for free. If you go to mises.org economics in one lesson, type that into your search bar, they'll mail you a free copy of the book, because it's that important.   Michael: Nice.   Tom: Nice, nice. Check it out. Awesome. The next one, I'm going to do just a comment on some of these books. So about a year ago, and a little over a year ago, and preparing for Roofstock Academy and building this product out I just went on a binge and I read like I went onto Goodreads and like read every top one, just put it in my audible account and pounded through one. And this one particularly I liked a ton it is the millionaire real estate investor by Gary Kelly. It was written back in 2005. And I would say this is kind of a beginner to like middle experience. I think even if you are do have a bunch of properties, I think it's a really good way to think about it.   It appeals to a lot of different like systems thinking so just kind of I had to use four different kind of descriptors of why I like this book. One of them is it speaks to hard and soft skills. So in the beginning, it talks about mindset and goals, which is so important. If you're doing this kind of longer journey of building wealth through real estate, it's important to have the right thought in the way that you're thinking about it. Otherwise, it's over time it's hard to sustain. The other is into the more technical skills into acquisitions and ownership and, and thinking kind of system mindedly. I think it does a great job of blending those two aspects which are both really important in real estate.   The other is it is like realistic and the way that it's set it up. As I said, building wealth through real estate, I can sometimes take time and it is not the hotel ballroom, we're going to make you rich and just follow these five steps. It's very pragmatic about this is not a get rich quick and lastly related to that is it includes at the end of it a ton of use cases of people who have had success and what their journey is so kind of similar to Michael Zubers book, talking about his detailed journey. This includes a bunch of use cases of people so excellent book millionaire real estate investor by Gary Keller. Yeah, have you guys read the millionaire real estate investor?   Michael: I have but it's been a while. I don't have much colored   Emil: I just picked it up. See that? I'm pointing to it here.   Tom: Yeah, I can see the top book right there.   Pierre I do recognize it there, yeah.   Emil: I just picked it up a feeling it's been recommended enough. I'm like, Alright, I'll skim through it. Let's go.   Pierre Let's go!   Tom: Let's go. Highly recommended.     Emil: Do you guys skim through books now? Like there's certain books where I'm like, I've gotten good at just skimming through books instead of just reading them cover to cover. Curious if you guys do that?   Pierre It depends on the kind of book.   Emil: Yeah, true. Business, real estate investing those kinds of books.   Tom: Yeah,I do the audio version of skimming, which is speeding the speaker up to like 3x. And just like have a little bit of blood dripping out of my ears.   Michael: Okay, for the first time this is what you are going to do.   Emil: I listen to every podcast on 1.5 x. And if you go back down to one after listening to like a podcast for 20 minutes, it sounds like everyone's drunk or something. It's so funny.   Michael: It's like if you've been speeding on the freeway driving 90 then you go back to 65 like man, this is a snail's pace.   Tom: Yeah. All right, I got one more round of book reviews. or book recommendations this time may or may not be related to real estate. So, Mr. Michael Albaum lead us off.   Michael: Yeah. So we started a book club at the Roofstock Academy that's been going on several months now. It's been a lot of fun. So we recently read How to Win Friends and Influence People by Dale Carnegie, which is a book that I read years ago. It's a classic book. I think it was written in the 20s 1920s. Pierre, correct me if I'm wrong.   Pierre: Yeah. Originally published in 1936. Michael   Michael: 36 awesome thanks. Yeah.    Tom: Gotta love books with staying power.   Pierre: That's right.   Michael: But uh, it's a book. And, Tom, I love that. You mentioned Gary Keller's book about soft skills and hard skills. This is a book all about soft skills. And it talks all about people skills. And that's something that's so rarely taught, and the hard skills you can learn anybody can really teach that to someone. But it's the soft skills that I think are a lot tougher to master. And so it talks about ways to be likable. And I mean, I think the title kind of sums it all up How to Win Friends and Influence People really nicely. And it's a book that you can reread over and over and over again, I intend to read it once a year, at least, as some good refresher and good tips and tricks. Just in your everyday life doesn't have to be specific to real estate investing doesn't have to be specific to business, but just in living your life as a human being. I think it offers some really great tips and nuanced ways to live a happier life and just, you know, be a more like person.   Tom: Classic one plus one, I have kind of a funny story. I've got a funny story related to this book. So I got this book in college, and I was reading it and I play football in college. And I had left the book in the training room just on accident, like icing or doing something after and I left in the training room. And this guy who was kind of like a big scary defensive lineman had took it after I'd left and was like, he took it and he was like reading He's like, Oh, this is really this is great stuff from I'm like, Yeah, good. Take it. It's all yours, man. He was a super nice guy, Matt Moil, I hope your hope you're doing well out there. I haven't talked to you in a while. But anyways, I was an early evangelist and sharing this book with some big defensive linemen. But yeah, for all the stuff that Michael said just a classic I mean, kind of similar in a way that Rich Dad Poor Dad and kind of turn people on to that this book on to personal development and sharpening the saw and all that really important stuff that pays huge dividends. So great book,   Michael: I think one of the best parts of it is that it's actionable like day one. It's easy to read, and you can just go practice the things that it's talking about, like, Oh, this works for me or Oh, this doesn't. It doesn't require you to spend money or invest in real estate or anything like that, to realize the fruits it has to offer.   Tom: Alright, Emil. Got another book?   Emil: All right, my next one, just given its end of the year, I think a lot of us are thinking 2021 goals. I don't know why Michaels laughing in the background, but I'm gonna keep it going anyway, you know, as we're thinking 2021 goals. I'm a huge believer that a lot of your goals and the things you want to achieve are just habits you need to create. I don't think they're just these like, giant monumental things that need to happen. A lot of the big stuff you see are the changes you see people make are just tiny habits they've formed in their lives just compounded over a long period of time. I think you could even say that about real estate investing a lot of different things. So the book I'm recommending is called Atomic Habits by James Clear, really practical guide on how to build good habits and break bad ones. It also has some cool tips, you know, we all have our vices, right? And he just gives you some like really practical tips on how do you make a vise feel less like a vise like, how do you do something good before you kind of indulgent advice, and I just think it has a lot of good practical tips, especially heading into the new year where people are planning their goals. So I'm probably gonna reread it heading into this month, myself.   Michael: And Neil, what's a vice for you Just out of curiosity?   Emil: Man, I don't really have any right now.   Michael: But because you read the book,   Emil: No, I can't believe I'm gonna admit this on the show. I haven't played video games in like a decade, and my brother in law got an Oculus, and I tried it out. Oh, man, it's unreal. so freaking fun. And so I couldn't help myself and I bought an Oculus. And that is going to be my vise. And so it's like, you know, what's, what's something productive you can do for 10-15 minutes before you spend some time playing Oculus. So it's got some some tips like that.   Michael: I've played on Oculus and I found myself I was sweating after I got done. So it's kind of like a workout too.   Emil: It can be there's games where you're like, doing a lot of movement and all that, which is what my wife was stoked about. So she's she's in on it too. That's gonna be my vice. That's my main one.   Michael: Right on.   Emil: I also eat a lot of sweets on the weekends. That's another vise   Michael: Just on weekends.   Emil: Yeah, I have a big sweet tooth and I just kind of limited to the weekend.   Michael: You're a stronger man than I.   Emil: Oreo fiend.   Tom: Pierre, got one more for us?   Pierre: Sure, you guys, read Sapiens by Yuval Noah Harari?   Michael: Oh, it's so good.   Pierre: It's super fun book I know is on the bestseller list. But if you haven't read that that's a fun interdisciplinary historical account of human history. tracking all the different domains of human society and development and all the way up into these complex societies that we live in today. So I think that's a really fun book. I think I've read it three times. So…   Michael: That's a long one, too. Yeah,   Pierre: Yeah. But it reads itself. I mean, that is both reads itself. And he has two more and following that…   Emil: Homo Deus   Pierre Homo Deus, and then 21 Lessons for the 21st Century. But I think Sapiens is definitely his best. The other one's are kind of more speculative and preachy.   Tom: He's a big, month long, Silent Retreat, like meditation guy, he doesn't like yeah, four months, a year, every year, I think it is like two month ones at a time. He's getting those those ideas around sapiens, you know, thinking about it.   Pierre: I love books of human history. I like like, oh, the last 13 years in human history. These are the theme of books that I read a lot like Guns, Germs and Steel and things like this that I find really fascinating. But what I really love about Harare is that he pulls from so many different you know, economics, religion, nutrition, culture, and warfare and politics and like you have this really thorough interdisciplinary scoop of history. So I think that's a really fun way to look at things, how they're all interconnected, and how they all feed into the world that we live in today.   Michael: It was pretty eye opening when they were talking when he was talking about that, you know, domesticating animals Yeah. And how you know, the dogs came from wolves. And the reason that dogs are man's best friend is because all the ones that weren't man best friend, they just kill them. So they just got like, the best jeans like yeah, this was so good. Like, see ya. Eye opening.   Pierre A pretty dumb side note, but I saw this meme. It's like a wolf looking at the fire and it says like, some food scraps next to the fire. What's the worst that can happen? It's like 10,000 years later, another picture. It's like a pug and a pink hat all dressed stupidly.   Michael: So good.   Tom: So good. I'll closes out here. So I'll actually make it to just because I like that that Sapiens call, Eric Larson is an author who does like history like tracks some event like some major event, and then some like little subplots within that event. The most recent one that I read is called the splendid and the vile, and it's about Churchill's during the air raid the what's it called the German air raid during World War Two. Anyways, awesome, awesome book. He also does the Devil in the White City, which is really good as well.   But my real pick for this the last one is another kind of soft skills mindset. One, it's called the Four Agreements by Don Miguel Ruiz, and I'm going to summarize it real quick is it's a short book it is there's four kind of key things from it as ways to live your life one is, be impeccable with your word. Don't take don't take things personally. Don't make assumptions and always do your best I think, in all aspects of your life. If you could go by those four key you know, drivers, you're gonna be, you're gonna be in good shape   Pierre I should have know you were a mystic, Tom.   Tom: I am! I'm a Sufi mystic.   Pierre: Yeah, no, that's a good book. He has another one called the Mastery of Love, which is also kind of a great little life lessons. Great little interpersonal life lessons.   Tom: Yes. Cool, guys, any final thoughts on books, the episode, all that good stuff.     Michael: I just think books can be such a great gift for people for I personally was never a big reader growing up, I would always have more fun goofing off. And then I started reading more about something I was passionate about real estate specifically, and, you know, kind of self growth, self improvement. I was like, oh, there's this whole world in books that didn't even know existed. So if you're not a big reader, to all the non big readers out there, you know, find something that you're passionate about, and try opening up a book. I think you might be pleasantly surprised.   Pierre: And if that's hard for you hit the audiobook.   Michael: Yeah, exactly.   Tom: I joke that I can't read it, but I can listen really well.   Emil: Something tells me our audience are readers.   Michael: Voracious readers.   Emil: If you're taking time out of your day to listen to podcasts like this. I think you you like learning and knowledge and I feel like we got a lot of readers.   Tom: Blinkist is another interesting website. They take nonfiction primarily and they condense it down into like, 1 10-minute spiel worth of reading. So they have I think they have like PhD students like PhD people do these. They were they break down. They have tons and tons of titles and you pay an annual subscription. We're not getting any, any any profit from Blinkest or from any of these recommendations. But yes, it's worth checking out Blinkest. It's like Cliff Notes, but like for adults for nonfiction stuff, so Blinkest.   Michael: Do they have that audio version as well?   Emil: It's primarily ausio.   Tom: But they do have a PDF versions as well.   Michael: Sweet.   Pierre: Oh, and also everyone out there. Hit us with your favorite books in the comments down below.   Tom: Yes.   Pierre: Let us hear what you guys are reading out there.   Tom: Yes. Awesome, guys. Well, on that note, I think it's a good time to close it out. All right, Happy investing.   Michael: Happy investing.   Emil: Happy investing.

In this chapter, we learn to look beyond the apparent, beyond what we can see, and imagine the items and services that were never allowed to come into existence All government spending, must come from tax dollars So, shouldn't those who are paying for the projects, determine which projects should be undertaken?

Mises Institute President Jeff Deist discusses the voluminous output of Henry Hazlitt as well as his role in helping Ludwig von Mises when he first came to the US. Jeff also explains the Institute's give-away offer for Hazlitt's classic work, Economics In One Lesson. Mentioned in the Episode and Other Links of Interest: The https://www.youtube.com/watch?v=dGPB2hvmnRU (YouTube version) of this interview. The link for the Mises Institute's https://mises.org/forms/get-your-free-economics-one-lesson-book (Hazlitt giveaway). Jeff Deist's original appearance on https://www.bobmurphyshow.com/episodes/ep-4-a-conversation-with-jeff-deist/ (BMS ep. 4). http://bobmurphyshow.com/contribute (Help support) the Bob Murphy Show. The audio production for this episode was provided by http://podsworth.com/ (Podsworth Media).

1. To provide the student with a comprehensive knowledge of the operations of a free-enterprise, division-of-labor society, with special emphasis on the phenomena of money, production, real wages and the productivity of labor, profit, saving and capital accumulation, and economic progress. The consequences of government intervention with respect to these phenomena will be considered in depth. 2. To teach the student to think of economic phenomena in terms of their long-run effects on all groups, not merely their short-run effects on those directly concerned. OVERVIEW OF THE COURSE The course will focus on the current or recent problem areas of the banking system, unemployment, economic stagnation, budget and trade deficits, and inflation, in the light of the contrasting analyses of the Keynesian and “Classical” schools (the latter including the Chicago and Austrian schools). Policy solutions to these problems will be explored—in particular free-market wage rates, balanced budgets with low taxes, and limitation of money-supply growth versus expansionary fiscal and monetary policy. Two leading themes of the course will be 1) The possibility of continuous capital accumulation and economic progress based on the combination of economic freedom, private ownership of the means of production, division of labor, saving, and technological progress. 2) The ethical implication of the harmony of the rational self-interests of all men under these conditions. BOOKS FOR THE COURSE George Reisman, Capitalism: A Treatise on Economics. Ottawa, Illinois: Jameson Books, 1996. Henry Hazlitt, Economics In One Lesson (paperback). George Reisman, editor, Supplementary Readings in Macroeconomics (to be distributed in class). [The essays contained in this title appear below with references to their original sources.] Paul Samuelson and William Nordhaus, Macro-Economics (paperback), 15th Edition, (New York: McGraw Hill, 1995). (Optional) Ludwig von Mises, Human Action (paperback), Third Edition.

Economics in One Lesson by Henry Hazlitt

If you want to be successful you better understand what effect different economic policies have on you --- Support this podcast: https://anchor.fm/nathandickeson/support

For weeks, Andrew has been pestering Nic to talk about books. To keep him happy, in this edition Nic interviews Andrew about a handful of his favourite reads. Starting out with Economics In One Lesson by Henry Hazlitt, Andrew moves on to discussing four of his favourite novels; George Orwell’s 1984, Aldous Huxley’s Brave New... The post Libertarian Good Reads appeared first on sounding board.

Modern economics seems, to me, to be a family of fallacies

Sanders rips GOP senators for voting for tax cuts but objecting to increased unemployment benefits https://apple.news/Aq4iaGYy9Qlm-g4qI2rTt-A Vermont Sen. Bernie Sanders on Wednesday lambasted Republican senators who had objected to provisions in the $2 trillion coronavirus stimulus package that they said would incentivize unemployment, accusing them of fixating on minor perks for workers amid a crisis. "What happened is Sen. (Lindsey) Graham and some other Republicans, they are just terribly upset that low-income workers might receive a bit more money than they otherwise would have earned," Sanders told CNN's Anderson Cooper, before the chamber voted on the bill. Fears for civil rights mount amid fight against coronavirus https://apple.news/A3rCfBt09TQ2pZgg0hf-X3Q The orders seem prudent in the bid to thwart the spread of the novel coronavirus: Don't go out, don't gather with others and keep your stores closed. But growing segments of the U.S. population say state and federal governments are trampling on freedoms central to American life in the name of protecting public health. Mexican governor says poor are 'immune' to coronavirus https://apple.news/ABwfj1_NCTMmjByGfJOrFRg The governor of a state in central Mexico is arguing that the poor are “immune” to the new coronavirus, even as the federal government suspends all nonessential government activities beginning Thursday in a bid to prevent the spread of the virus. MasterMyTrades.com Patreon.com/GoodMorningLiberty --- Support this podcast: https://anchor.fm/goodmorningliberty/support

Here’s the pdf if you’d like to read along or read ahead: http://www.hacer.org/pdf/Hazlitt00.pdf All parties affected aren't always obvious nor present One's gain has to come from somewhere   Music: Urban Nerd Beats http://www.urbannerdbeats.com/

Here’s the pdf if you’d like to read along or read ahead: http://www.hacer.org/pdf/Hazlitt00.pdf By ignoring the long term effects, they are making the far more serious error; they overlook the woods in their precise and minute examination of the trees       Music: Leavv - Wind https://soundcloud.com/leavv Flitz&Suppe - Funkaholic https://soundcloud.com/flitz&Suppe Cloudchord X Soul Food Horns - Bopatron https://soundcloud.com/cloudchord https://soundcloud.com/SoulFoodHorns   Hit them up! Let them know they were featured Any ads are due to claims, content is not monetized Any copyright claims, contact: IDKWhatNickBeOn@icloud.com

The tragedy is that we are already suffering from the long term consequences of our recent past; Today is already the tomorrow in which the bad economist urged us to ignore..   #ethersquad #idkwhatnickbeon

Turning to help from Henry Hazlitt, one of the great economic thinkers of the 20thcentury, Ray Keating looks to answer the question: Why is economics plagued by so many fallacies?

Is Economics an ideology or a technology, a science or a religion? Is there some foundational principle of Economics upon which everyone can agree? Why is the subject of Economics so contentious? We explore these and other questions with our guest, Bob Murphy. Bob is a bona fide professional economist with tons of academic credentials and a lot of experience breaking the subject down for "the rest of us." To help anchor the subject we talk quite a bit about his fabulous book, *Choice: Cooperation, Enterprise and Human Action.* Followers of this show will recognize immediately, *he had me at Choice!* Anyway, we had a lot of fun and hope it is a useful conversation for you. LINKS Bob Murphy Show podcast - https://www.bobmurphyshow.com/ Bob's most excellent book, CHOICE, COOPERATION AND HUMAN ACTION - https://www.amazon.com/Ayurveda-Simplified-Dr-Nisha-Manikantan-ebook/dp/B01MT66D39/ref=sr_1_3?ie=UTF8&qid=1544080544&sr=8-3&keywords=ayurveda+simplified Bob's Consulting site- https://consultingbyrpm.com/ Free pdf of ECONOMICS IN ONE LESSON, by Henry Hazlet - https://mises.org/system/tdf/Henry%20Hazlitt%20Economics%20in%20One%20Lesson.pdf?file=1&type=document MUSIC *Phantom from Space* by Kevin MacLeod.

Keith Knight makes his debut as the second co-host of the Liberty Weekly Podcast! In this episode, Keith and I go back to first principles and walk through "Economics in One Lesson," a MUST READ for all new libertarians. Episode 98 of the Liberty Weekly Podcast is Brought to you by: Please Consider Supporting Projects on DonorSee The Liberty Weekly Amazon Affiliate Link   The Liberty Weekly Patreon Page: help support the show and gain access to tons of bonus content! Become a patron today! Become a Patron!   Our Nord VPN Affiliate Link Our Liberty Classroom Affiliate Link Show Notes: Keith Knight's "Don't Tread on Anyone" Essential Books for the Libertarian Novice Ep. 42 Economics in One Lesson by Henry Hazlitt (Amazon Affiliate Link) Anarchy and the Law: The Political Economy of Choice by Edward P. Stringham (Amazon Affiliate Link) Private Governance: Creating Order in Economic and Social Life by Edward P. Stringham (Amazon Affiliate Link)   Peter Schiff Makes Analogies Keith Interviews David D. Friedman Economic Depressions: Their Causes and Cures by Murray N. Rothbard (Amazon Affiliate Link) Meltdown: A Free Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts will Make Things Worse By Tom Woods (Amazon Affiliate Link) How and Economy Grows and Why It Crashes by Peter Schiff (Amazon Affiliate Link) James Corbett: Meet Paul Ehrlich, Pseudoscience Charlatan James Corbett: Why Big Oil Conquered the World Hans Herman Hoppe: A Theory of Socialism and Capitalism (Amazon Affiliate Link) Will MySpace Ever Lose Its Monopoly? by Victor Keegan Free Man Beyond the Wall Episode 167: Talking 'Renegade American History w/ Thaddeus Russell

In which Nick regales The Dear Listener with a tail about the only free money that is on offer in personal finance: your employer’s pension scheme. Exciting! Sort of.   In this episode of what his mother calls the UK’s leading personal finance podcast, Nick also rambles on about:   Preparations for his keynote speech in Dat Dere Dublin in May; Social media and advertising: not the beginning of the end but the end of the beginning; Relationship Hat-Tips with a guest appearance from the ever lovely @PenelopeTL.   LINKS: BBC misleading headline on the joys of employer pension schemes; Henry Hazlitt’s masterful 1946 opus “Economics In One Lesson”.   ==========   Any comments or feedback gratefully received. Likewise with suggestions for future shows. Get in touch with Nick on Twitter or via good old email.   CLICK HERE TO LEAVE A FIVE STAR REVIEW ON iTUNES - OR ELSE.   @HatTipNick   info@v2vfp.co.uk   www.v2vfp.co.uk

States Rights! Nullification! Secession! Just what you'd expect to hear from.....PROGRESSIVES IN CALIFORNIA?! Actually, yes. Progressives finally believe in local governance and nullification. All it took was Donald Trump to turn politics on its head and we are now in Bizarro World. And if that wasn't enough, just months after Republicans touted tax CUTS, they now want tariffs which, well, are just taxes and another intervention into a free market. We'll break down tariffs and the classic Broken Window Fallacy. Plus- Tucker Carlson heroically gives neocon warmonger John Bolton a verbal beatdown.  Here are links to the articles I cite on today's episode:    Recommended books: Economics In One Lesson by Henry Hazlitt  and Economics In One Lesson by Thomas Sowell Go "like" us at Follow me on Twitter @buckrebel Subscribe  on iTunes and share the show with friends! 

Pastor Wilson talks Just War Theory, plugs Henry Hazlitt's ”Economics in One Lesson," and unpacks “adikos." Be sure to join him every Wednesday for the newest edition of the Plodcast. Happy plodding!

Pastor Wilson talks Just War Theory, plugs Henry Hazlitt’s ”Economics in One Lesson," and unpacks “adikos." Be sure to join him every Wednesday for the newest edition of the Plodcast. Happy plodding!

Chris and I once again analyze the book Economics in One Lesson by Henry Hazlett. We don't complete the entire book but after three episodes we felt the need to move on to more current topics. Besides, I finished this book weeks ago and I want to discuss other things (selfish, I know).

I am trying something new here by examining the book 'Economics in One Lesson' by Henry Hazlett. My guest, Chris Stefanick, and I dissect this book chapter by chapter and make commentary on the One Lesson presented by Henry Hazlett. This podcast is meant to be educational while also keeping in the tradition of Two Beers of Steve, which means I have to be entertained as well.  You can either listen along without having read the book or you can pick up a copy and join in the conversation by writing into the show... we'd love to hear from you. {I'm writing my email this way to avoid an insane amount of spam} twobeerswithsteve (at) hotmail dotcom I hope you can decode my email. Steve  

I recently wrote a long post on the Zeitgeist forums refuting the logic of a couple of guys on youtube. They suggested reading this book to try and debunk the theory that technology creates unemployment in a monetary system. Tune in as I discuss this.