Since 1946 Henry Hazlitt's bestselling Economics in One Lesson has popularized the belief that
economics can be boiled down to one simple lesson: market prices represent the true cost of
everything. But one-lesson economics tells only half the story. It can explain why markets
often work so well but it can't explain why they often fail so badly?or what we should do when
they stumble. As Nobel Prize-winning economist Paul Samuelson quipped When someone preaches
?Economics in one lesson ' I advise: Go back for the second lesson.? In Economics in Two
Lessons John Quiggin teaches both lessons offering a masterly introduction to the key ideas
behind the successes?and failures?of free markets. Brilliantly accessible this book unlocks
the essential issues at the heart of any economic question.
