By Henry Hazlitt.
The entire body of economic theory, regardless of how complex it may seem, can be reduced to just one question: What are the consequences for all people, not just for one group, and what is the long-term effect, not just the immediate effect? Collectivist schemes are attractive only if we look at the immediate benefit for a specific group with no consideration for the long-term harm done to others. Anyone can understand economics. 205 pages.