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Economics in One Lesson

Summary:
Connecticut State Representative Kimberly Fiorello released the 1-hour video of my discussion with her and her constituents about Henry Hazlitt’s 1946 book, Economics in One Lesson. Some highlights follow. 0:00 to about 1:30: Intro from Kimberly. From about 1:30 to about 12:00: My opening remarks. I cover labor unions, minimum wages, and tariffs. 14:00: How absence of the minimum wage helped Hazlitt early in his career. 16:00: Hazlitt’s answer on why it’s so hard for people to understand economics. 24:20: FEMA. 26:20: Answering Andy’s question about time horizons. 29:40: Andy’s suggestion for required courses in high school. 30:10: Wendy’s question. 32:40: One strategy for persuasion. Persuasion as therapy. 34:45: Taxes. 39:00: Inflation. 42:10: Interaction

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Economics in One Lesson

Connecticut State Representative Kimberly Fiorello released the 1-hour video of my discussion with her and her constituents about Henry Hazlitt’s 1946 book, Economics in One Lesson.

Some highlights follow.

0:00 to about 1:30: Intro from Kimberly.

From about 1:30 to about 12:00: My opening remarks. I cover labor unions, minimum wages, and tariffs.

14:00: How absence of the minimum wage helped Hazlitt early in his career.

16:00: Hazlitt’s answer on why it’s so hard for people to understand economics.

24:20: FEMA.

26:20: Answering Andy’s question about time horizons.

29:40: Andy’s suggestion for required courses in high school.

30:10: Wendy’s question.

32:40: One strategy for persuasion. Persuasion as therapy.

34:45: Taxes.

39:00: Inflation.

42:10: Interaction between inflation and marginal tax rates.

45:20: Scotty Post on trying to persuade on rent control and minimum wages.

48:55: Bracket creep in Connecticut.

49:50: Ramya on climate change.

52:30: Effect of cheap immigrant labor.

54:50: David Card and Nobel Prize.

57:50: Andy on handicapping Thomas Sowell for the Nobel Prize.

1:00:36: My ending comments on why Hazlitt’s book is still relevant: the issues don’t go away.

David Henderson
David R. Henderson (born November 21, 1950) is a Canadian-born American economist and author who moved to the United States in 1972 and became a U.S. citizen in 1986, serving on President Ronald Reagan's Council of Economic Advisers from 1982 to 1984.[1] A research fellow at Stanford University's Hoover Institution[2] since 1990, he took a teaching position with the Naval Postgraduate School in Monterey, California in 1984, and is now a full professor of economics.[3]

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