Called by H.L. Mencken, one of the few economists in history who could really write, Henry Hazlitt achieved lasting fame for this brilliant but concise work. In it, he explains basic truths about economics and the economic fallacies responsible for unemployment, inflation, high taxes and recession. Coveting considerable ground, Hazlitt illustrates the destructive effects of taxes, rent and price controls, inflation, trade restrictions and minimum wage laws. And, he writes about key classical liberal thinkers like John Locke, Adam Smith, Thomas Jefferson, John Smart Mill, Alexis de Tocqueville and Herbert Spencer.