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New quick guide: Economics in One Lesson

Every week for the next 26 weeks, I’ll be publishing a précis of a chapter of Henry Hazlitt’s brilliant 1946 book, Economics in One Lesson, prepared by Michael Dowsett during his internship. The index page is here. This week, in just 189 words, The Lesson. Of course, there is no substitute for reading the book: buy, download.

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A critical error of the Left

As Labour pours another £11bn of poison into the wells, I find myself reflecting on the economics of the Left, people who seem to be lamenting coming “Tory cuts” after so much “Labour investment”. In the first place, Labour plan their own substantial cuts. More to the point, Labour’s spending was funded not by sustainable prosperity, but by one long credit expansion unbacked by real savings, which has now, inevitably, come to an end. Left-wingers’ admirable intentions seem to be […]

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