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.
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.
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.