Economics in One Lesson | Episode 109 | Everything is Everything

For almost 80 years, one book has been the go-to book for understanding economics — and the world. Henry Hazlitt wrote that book. Welcome to Episode 109 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Amit and Ajay discuss Economics in One Lesson by Henry Hazlitt — a book you must read if you want to understand the subject! Pick it up here: https://amzn.in/d/02K9l4h or here (free pdf): https://tinyurl.com/aauetmk3 Note: Amit and Ajay have launched their online course LIFE LESSONS. Click here to sign up: https://lifelessons.co.in/ TABLE OF CONTENTS:  00:00 Packaging 00:13 Intro: The Economist Who Puked on a Forest 02:27 Chapter 1: Economics in One Lesson 10:58 Chapter 2: The Key Lesson 13:20 Chapter 3: The Parable of the Broken Window 19:46 Chapter 4: Public Works 27:24 Chapter 5: Taxes and Incentives 33:08 Chapter 6: The Folly of Credit by the State 35:43 Chapter 7: The Fear of New Technology 49:45 Chapter 8: Jute ka Jhoot 53:57 Chapter 9: The Blunder of Rent Control 1:08:09 Chapter 10: Three Broad Lessons 1:11:34 Chapter 11: The Toolkit OTHER USEFUL RESOURCES: 1. Amit on Twitter:   / amitvarma   2. Ajay on Twitter:   / ajay_shah   3. The Seen and the Unseen -- Amit's audio podcast: https://seenunseen.in/ (Also on all podcast apps. And YouTube, though less than 1% of listens come from here:    / @theseenandtheunseen  ) 4. Ajay's organisation, XKDR Forum, on YouTube:    / @xkdr   5. In Service of the Republic -- Vijay Kelkar & Ajay Shah: https://amzn.eu/d/hwGILb3 6. The Art of Clear Writing -- Amit's writing course: https://indiauncut.com/clear-writing/ 7. The India Uncut Newsletter -- Amit's newsletter at https://indiauncut.substack.com/ 8. Life Lessons -- a course taught by Amit Varma & Ajay Shah: https://lifelessons.co.in/ 9. The LEAP Blog: https://blog.theleapjournal.org/#gsc.... 10. Beware of These Five Fallacies! — Ep 45 of EIE:    • Beware of These Five Fallacies! | Episode ...   11. Stay Away From Luxury Beliefs — Ep 46 of EIE:    • Stay Away From Luxury Beliefs | Episode 46...   12. Don't Mess With the Price System — Ep 66 of EIE:    • Don't Mess With the Price System | Episode...   13. Basic Economics — Thomas Sowell: https://amzn.in/d/dDQASVv 14. Lant Pritchett Is on Team Prosperity — Episode 379 of The Seen and the Unseen:    • Ep 379: Lant Pritchett Is on Team Prosperity   15. Four Papers That Changed the World — Ep 41 of EIE:    • Four Papers That Changed the World | Episo...   16. The Use of Knowledge in Society — Friedrich Hayek: https://www.econlib.org/library/Essay... 17. The Evolution of Everything — Episode 96 of The Seen and the Unseen (w Matt Ridley):    • Ep. 96: The Evolution of Everything   18. The Evolution of Everything — Matt Ridley: https://amzn.eu/d/ffAfxcr 19. That Which Is Seen, and That Which Is Not Seen — Frédéric Bastiat: https://tinyurl.com/33kv55t7 20. How to Do Development — Ep 57 of EIE:    • How to Do Development| Episode 57 | Everyt...   21. Economic growth is enough and only economic growth is enough — Lant Pritchett: https://tinyurl.com/3nuts7kk 22. Understanding the State — Eo 25 of EIE:    • Understanding the State | Episode 25 | Eve...   23. Where Has All the Infrastructure Gone? — Ep 55 of EIE:    • Where Has All the Infrastructure Gone? | E...   24. The Forgotten Man: A New History of the Great Depression — Amity Shlaes: https://amzn.in/d/4efdOAa 25. Rethinking Innovation Policy — Ep 59 of EIE:    • Rethinking Innovation Policy | Episode 59 ...   26. Who Lends to the Indian State? — Ajay Shah & co-authors: https://tinyurl.com/yhs96eu9 27. The Globalisation Episode — Ep 95 of EIE:    • The Globalisation Episode | Episode 95 | E...   28. Is Globalization Doomed? — Ep 96 of EIE:    • Is Globalization Doomed? | Episode 96 | Ev...   29. Price Controls Lead to Shortages and Harm the Poor — Amit Varma: http://indiauncut.com/price-controls-... 30. Prices, Fast and Slow — Ajay Shah: https://www.nipfp.org.in/media/medial... 31. Don't Mess With the Exchange Rate — Ep 67 of EIE:    • Don't Mess With the Exchange Rate | Episod...   32. The Seen/Unseen episode on Rent Control with Alex Tabarrok: https://seenunseen.in/episodes/2017/4... 33. The Mystery Of Capital — Hernando de Soto: https://amzn.in/d/fvopHhk 34. Daniel Hannan’s tweet: https://x.com/DanielJHannan/status/19... 35. Milton Friedman on the minimum wage:    • Milton Friedman on Minimum Wage   36. India Awakes:    • India Awakes with Johan Norberg - Full Video   37. The early Seen/Unseen episode on DeMon with Suyash Rai:    • Ep. 02: Demonetisation   Produced by Amit Varma Shot by Vaishnav Vyas & Nomsita MS Haritashya:   / vaishnav.vyas   Edited by Nomsita MS Haritashya:   / nomsitaharitashya   Thanks to Gaurav Chintamani for helping with sound:   / gaurav_chintamani   Chapter image & lightbulb video by Simahina.