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ECONOMICS IN ONE LESSON
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THIS BOOK is an analysis of economic fallacies that are at
last so prevalent that they have almost become a new
orthodoxy. The one thing that has prevented this has been
their own self-contradictions, which have scattered those
who accept the same premises into a hundred different
"schools/* for the simple reason that it is impossible in
matters touching practical life to be consistently wrong. But
the difference between one new school and another is
merely that one group wakes up earlier than another to the
absurdities to which its false premises are driving it, and
becomes at that moment inconsistent by either unwittingly
abandoning its false premises or accepting conclusions from
them less disturbing or fantastic than those that logic would
demand.