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For almost 80 years, one book has been the go-to book for understanding economics — and the world. Henry Hazlitt wrote that book. Welcome to Episode 109 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah. In this episode, Amit and Ajay discuss Economics in One Lesson by Henry Hazlitt — a book you must read if you want to understand the subject! Pick it up here: https://amzn.in/d/02K9l4h or here (free pdf): https://tinyurl.com/aauetmk3 Note: Amit and Ajay have launched their online course LIFE LESSONS. Click here to sign up: https://lifelessons.co.in/ TABLE OF CONTENTS: 00:00 Packaging 00:13 Intro: The Economist Who Puked on a Forest 02:27 Chapter 1: Economics in One Lesson 10:58 Chapter 2: The Key Lesson 13:20 Chapter 3: The Parable of the Broken Window 19:46 Chapter 4: Public Works 27:24 Chapter 5: Taxes and Incentives 33:08 Chapter 6: The Folly of Credit by the State 35:43 Chapter 7: The Fear of New Technology 49:45 Chapter 8: Jute ka Jhoot 53:57 Chapter 9: The Blunder of Rent Control 1:08:09 Chapter 10: Three Broad Lessons 1:11:34 Chapter 11: The Toolkit OTHER USEFUL RESOURCES: 1. Amit on Twitter: / amitvarma 2. Ajay on Twitter: / ajay_shah 3. The Seen and the Unseen -- Amit's audio podcast: https://seenunseen.in/ (Also on all podcast apps. And YouTube, though less than 1% of listens come from here: / @theseenandtheunseen ) 4. Ajay's organisation, XKDR Forum, on YouTube: / @xkdr 5. In Service of the Republic -- Vijay Kelkar & Ajay Shah: https://amzn.eu/d/hwGILb3 6. The Art of Clear Writing -- Amit's writing course: https://indiauncut.com/clear-writing/ 7. The India Uncut Newsletter -- Amit's newsletter at https://indiauncut.substack.com/ 8. Life Lessons -- a course taught by Amit Varma & Ajay Shah: https://lifelessons.co.in/ 9. The LEAP Blog: https://blog.theleapjournal.org/#gsc.... 10. Beware of These Five Fallacies! — Ep 45 of EIE: • Beware of These Five Fallacies! | Episode ... 11. Stay Away From Luxury Beliefs — Ep 46 of EIE: • Stay Away From Luxury Beliefs | Episode 46... 12. Don't Mess With the Price System — Ep 66 of EIE: • Don't Mess With the Price System | Episode... 13. Basic Economics — Thomas Sowell: https://amzn.in/d/dDQASVv 14. Lant Pritchett Is on Team Prosperity — Episode 379 of The Seen and the Unseen: • Ep 379: Lant Pritchett Is on Team Prosperity 15. Four Papers That Changed the World — Ep 41 of EIE: • Four Papers That Changed the World | Episo... 16. The Use of Knowledge in Society — Friedrich Hayek: https://www.econlib.org/library/Essay... 17. The Evolution of Everything — Episode 96 of The Seen and the Unseen (w Matt Ridley): • Ep. 96: The Evolution of Everything 18. The Evolution of Everything — Matt Ridley: https://amzn.eu/d/ffAfxcr 19. That Which Is Seen, and That Which Is Not Seen — Frédéric Bastiat: https://tinyurl.com/33kv55t7 20. How to Do Development — Ep 57 of EIE: • How to Do Development| Episode 57 | Everyt... 21. Economic growth is enough and only economic growth is enough — Lant Pritchett: https://tinyurl.com/3nuts7kk 22. Understanding the State — Eo 25 of EIE: • Understanding the State | Episode 25 | Eve... 23. Where Has All the Infrastructure Gone? — Ep 55 of EIE: • Where Has All the Infrastructure Gone? | E... 24. The Forgotten Man: A New History of the Great Depression — Amity Shlaes: https://amzn.in/d/4efdOAa 25. Rethinking Innovation Policy — Ep 59 of EIE: • Rethinking Innovation Policy | Episode 59 ... 26. Who Lends to the Indian State? — Ajay Shah & co-authors: https://tinyurl.com/yhs96eu9 27. The Globalisation Episode — Ep 95 of EIE: • The Globalisation Episode | Episode 95 | E... 28. Is Globalization Doomed? — Ep 96 of EIE: • Is Globalization Doomed? | Episode 96 | Ev... 29. Price Controls Lead to Shortages and Harm the Poor — Amit Varma: http://indiauncut.com/price-controls-... 30. Prices, Fast and Slow — Ajay Shah: https://www.nipfp.org.in/media/medial... 31. Don't Mess With the Exchange Rate — Ep 67 of EIE: • Don't Mess With the Exchange Rate | Episod... 32. The Seen/Unseen episode on Rent Control with Alex Tabarrok: https://seenunseen.in/episodes/2017/4... 33. The Mystery Of Capital — Hernando de Soto: https://amzn.in/d/fvopHhk 34. Daniel Hannan’s tweet: https://x.com/DanielJHannan/status/19... 35. Milton Friedman on the minimum wage: • Milton Friedman on Minimum Wage 36. India Awakes: • India Awakes with Johan Norberg - Full Video 37. The early Seen/Unseen episode on DeMon with Suyash Rai: • Ep. 02: Demonetisation Produced by Amit Varma Shot by Vaishnav Vyas & Nomsita MS Haritashya: / vaishnav.vyas Edited by Nomsita MS Haritashya: / nomsitaharitashya Thanks to Gaurav Chintamani for helping with sound: / gaurav_chintamani Chapter image & lightbulb video by Simahina.