Economics in one lesson Essay Example | Topics and Well Written Essays - 1250 words

economics in one lesson - Essay ExampleHe argues that, the art of economics involves analyzing primary and secondary do these policies to all groups.The book discusses in details several fallacies such as high taxes, evils that take indue in the public projects, minimum wage rate, effects of bailout, price control, tariffs on imports, rent control, trade meat activities, regulations and economic effects of governing actions. Parity pricing, disbanding a large number of troops, commodity stabilization and pretension are fallacies that are not given much weight but are included in this book.Hazlitt does not object public program spending but rejects the use of public projects as a plan of injecting money into the economy. He argues that public projects should be justified based on their importance to the economy. specie outsourced from the clandestine sector by the government in the form of taxes is used to fund public projects. use the bridge example, Hazlitt argues that crea ting a job in the public sector kills another job in the private sector. In such projects there are things which are not permitted to come into existence. In paragraph 3 of this book, Hazlitt argues that, the secondary effect on public projects is in the form of how money used to fund these projects is deviate to other areas. Unfortunately, such news most likely will not be reported on considering the kind of news that are being aired nowadays.Government never does as well in making loans as the private sector does. This is because people tend to be more careful with their give birth money (Hazlitt. Para8). Unfortunately, most of the time this fact is always hidden because swelled loans made by the government are hidden in most federal spending. On the other hand, when banks collapse due to bad loans, it is announced all over the news. Political considerations further hide the bad loans as a conduce of government lending. This