This book is highly recommended by many in the popular economics category. It’s not a single lesson, as the title suggests, but a collection of a dozen or so short chapters, each of which can be treated as a lesson on a separate economic topic. Its accessible format makes it easier to navigate more complex topics.
After just a few pages, you can recognize the strong inspiration from Frederic Bastiat’s mid-19th-century work - “That Which Is Seen and That Which Is Not Seen”. Hazlitt presents economic phenomena and issues in a similarly simple and vivid manner to the Frenchman. These issues are illustrated through examples that everyone can observe and experience. These are not out-of-context and isolated studies or economic simulations, but rather real, everyday issues such as trade between countries, inflation, unemployment, and employment.
This is a simple, understandable book that illustrates timeless economic issues. My only complaint is that it’s “too simple.” Hazlitt’s examples are often explained from the perspective of “crystalline” capitalism. That is, the free market should regulate and optimize employment, inflation, and wage levels. Therefore, the author’s claims cannot be accepted uncritically, but it is nevertheless a very valuable book.