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Economics In One Lesson
| Author: | Hazlitt, Henry
Shared by: Daniel, ebookhood |
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| Language: | English | |
| Number of downloads: | 56 | |
| Number of readers who love this book: | 1 | |
Reviews on Amazon
A simple, straightforward analysis of economic fallacies that are so prevalent they have almost become a new orthodoxy.
Ebook preview
... Most of us must have noticed the automatic "governor" on a steam engine. It usually consists of two balls or weights which work by centrifugal force. As the speed of the engine increases, these halls fly away from the rod to which they are attached and so automatically nar- row or close off a throttle valve which regulates the in- take of steam and thus slows down the engine. If the engine goes too slowly, on the other hand, the balls drop, widen the throttle valve, and increase the engine's speed....