**Over a million copies sold!** **A fundamental influence on modern libertarianism, this** **classic guide to the basics of economic theory defends capitalism and the free market from economic myths that persist to this day. “A magnificent job of theoretical exposition.”—Ayn Rand** Considered among the leading economic thinkers of the “Austrian School,” which includes Carl Menger, Ludwig von Mises, Friedrich (F.A.) Hayek, and others, Henry Hazlitt wrote *Economics in One Lesson* in 1946. Concise and instructive, it is also deceptively prescient and far-reaching in its efforts to dissemble economic fallacies that are so prevalent they have almost become a new orthodoxy. Economic commentators across the political spectrum have credited Hazlitt with foreseeing the collapse of the global economy which occurred more than fifty years after the initial publication of *Economics in One Lesson*. Hazlitt’s focus on non-governmental solutions, strong—and strongly reasoned—anti-deficit position, and general emphasis on free markets, economic liberty of individuals, and the dangers of government intervention make *Economics in One Lesson* every bit as relevant and valuable today as it has been since publication.