The Most Important Economic Principle You Need To Know

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1. Henry Hazlitt does not provide sufficient insight and guidance. The reason is that he  forgot the teachings of the political economists, in particular Adam Smith and Henry George. Hazlitt is right to champion free trade. He is right to call for an end to monopolies. Unfortunately, he joins too many other economists of the 20th century by ignoring what Winston Churchill called "the mother of all monopolies": the monopoly of land. A far better analysis of what constitutes a truly free market economic system is found in the writings of Henry George.
2. I like this.
3. It's like this:  When more people work for themselves, more people are inevitably allowed to have more things, than if the opposite.  That pretty much sums up the historical revelations we find from the field of economics since the beginning of time.
4. The first law of economics is people respond to incentives.  Pay them not to work, they won't work!  Institute an aggressive regressive tax structure, they will take their earnings in ways that are taxed least or defer payment or simply stop earning at some point to avoid paying punitive rates.  Let people keep more of what they make, they will spend and/or invest more in the free market.  Let them keep less and they will spend and/or invest less in the free market.
   
   I trust millions of us to make decisions in a free market with MORE of our money more than I trust our "annointed" leaders to spend OUR money wisely to the benefit of all of us.  (The fact is liberals don't give a shit about the rest of us, they care about power and furthering their own narrow agendas at all of our expenses.  Sadly, too many republicans are the same.)
5. Thomas Sowell wrote the best primer on economics. Glad someone is trying to teach econ to the pj media crew, that was always a weak point for them. This guy is not good at explaining it, or covering the issues. Get some Milton Friedman clips, call up Sowell and Williams. Walter Williams is the man. 
6. is it me, or is that background making these guys look like they are floating in front of the screen?
7. Lesson 1 can be, and should be applied to any kind of decision or policy, not just economics. It is unfortunate that politicians have never, ever worked like that, in fact in today's world they don't even read the things they vote for on Capitol Hill.
8. I thought it would be Demand rules production, production rules supply and supply rules demand... or something like that.
9. 1. The laws of economics are not much more flexible than the laws of physics. If you put a blanket on your back, you still can't fly. If you legislate against economics, you'll create a black market - for goods, labor, whatever.
   2. The first lesson in economics is the law of Supply and Demand, which, simplified, is the Law of Diminishing Returns; in other words, Common Sense.
10. They've brought Clark Kent back to PJTV!
11. Called common sense. Liberals & Keynesian economics lack common sense & have always been shown to be used as bargaining chips for the good of the party. This country was founded on fee economy principles. They have their faults. By in large they're much less a problem that what liberal economics brings. Which is socialism & communism. The end effect & the unintended consequences of turning over free choice to the GOV to hold. 
12. Allan Barton, Terry Jones and Yaron Brook are back! HOORAY!
13. What a coincidence, I'm reading this book right now. Greetings from germany!
14. Lesson 1:  If you have money, you can spend money.  If you don't have money, you can't spend money.
    Lesson 2:  If you have more money, you can spend more money.  If you have less money, you can spend less money.
    Lesson 3:  If the government taxes more money from your paycheck, you have less to spend.  If the government taxes less money from your paycheck, you have more to spend.
    Lesson 4:  Why the fuck would you support a party that taxes you more, if it results in you having less?
15. Since he is an on screen speaker, I would think he would go to speech therapy to stop sounding like Elmer Fudd. I'm not hatin but good grief man there are ways to work on that.
16. As an economist this book sound like nonsense (i.e. oversimplifying a very broad field that is constantly evolving) if you want to learn some real economies read great texts like the Wealth of Nations, General Theory and Road to Serfdom. Also anything by Milton Friedman or Irving Fisher.  
17. The quote was not read correctly.
18. 1) Don't spend what you don't have.
    2) Don't use gun violence to take from others.
    3) Don't use gun violence to force your will on others.
    4) Don't accept political campaign support bribes.
    5) Don't "help" some by harming others.
    6) Don't force your "help" on others who don't want it.
    
19. Well, I guess the left wing doesn't understand this economic principle when they made ObamaCare...
20. Keep government from spending money if they don't have it. Then make them lower taxes. Also make every law have a sunset clause that makes it go away every ten years and then only the most needed and important laws will get renewed and all the other busy work laws will have to be sacrificed.