(These notes are just the tip of the iceberg. “Economics in One Lesson” is one of the most brilliant, yet approachable, books on economics ever written, and you can download it in PDF format for free HERE.
Note: All notes below are direct quotations from the book unless surrounded by parentheses.)
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The whole of economics can be reduced to a single lesson, and that lesson can be reduced to a single sentence. The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups. (5)
[The argument that war helps the economy] confuses need with demand. The more war destroys, the more it impoverishes, the greater is the postwar need. Indubitably. But need is not demand. Effective economic demand requires…
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Utopia, you are standing in it! 
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