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Economics, as defined by The American Heritage Dictionary, is “the social science concerned with the production, distribution, exchange, and consumption of goods and services”. Economists focus on the way in which individuals, groups, business enterprises, and governments seek to achieve efficiently any economic objective they select. Hazlitt’s primary objective in writing Economics in One Lesson, is, as he presented and reiterated it in his introductory and concluding chapters, “the analysis of economic fallacies…for …

…to agriculture. Today, as the population strives to become better citizens through educating themselves, people have undertaken the responsibility to expand their horizons and learn of topics that are generally outside of their field spectrum. Although a certain (though minimal) amount of knowledge of economy is required when reading Economics in One Lesson, it is deemed very successful at presenting the essential concepts of economics while elaborating on the common fallacies associated with its study.