Economics In One Lesson by Henry Hazlitt presents an interesting and logical view of economics. The book presents many ideas that seem right (like saving) and provides very logical arguments to back them up. Even though the book was originally published in 1946, the topics covered seem very applicable to today (The Blessings of Destruction, Public Works Mean Taxes, Taxes Discourage Production, Credit Diverts Production, The Curse of Machinery, Spread-the-Work Schemes, Disbanding Troops and Bureaucrats, The Fetish of Full Employment, Who’s “Protected” by Tariffs?, The Drive for Exports, “Parity” Prices, Saving the X Industry, How the Price System Works, “Stabilizing” Commodities, Government Price-Fixing, What Rent Control Does, Minimum Wage Laws, Do Unions Really Raise Wages?, “Enough to Buy Back the Product”, The Function of Profits, The Mirage of Inflation, The Assault on Saving)
The book can be found:
- online: http://jim.com/econ/contents.html
- download: http://www.fee.org/pdf/books/Economics_in_one_lesson.pdf
The following article presents some of the realities of finding talent in places like India. It is encouraging that the basic economic laws of supply and demand still work.