Economics in One Lesson

American Mercury
, x
American Scholar, The
, xiv
Anderson, Benjamin M.
“A Refutation of Keynes’ Attack
on the Doctrine that Aggregate
Supply Creates Aggregate
Demand,” in 
Financing American
Prosperity,
152n
Value of Money, The
, 148n
Arkwright, Richard, 34
armed forces, disbandment of, 51–52
Bastiat, Frédéric
broken window example, viii, ix,
11–12, 13
Ce qu’on voit et ce qu’on ne voit fas
,
xii
savings vs. spending example,
159–62
Bituminous Coal Act of 1937, 84
black market, 110–11
Bogey of Economic Maturity, The
(Ter-
bough), 164n, 171n
broken window example (Bastiat),
viii, ix, 11–12, 13
bureaucrats, disbandment of, 52–54
capital absorption, 169–71
Ce qu’on voit et ce qu’on ne voit fas
(Bas-
tiat), xii
coal industry, 83–84
Cohen, Morris R.
Reason and Nature
, xii
commodities, controls for, 26, 78, 79,
97–103
Commonsense of Political Economy
(Wicksteed), xii
cotton-spinning industry, 34
credit, government, 25–32, 71–73
See also
commodities, controls for
Crusoe economics, 91
deficit financing by government,
51–52, 155–56
demand and supply, 15–16, 91–92,
97, 99, 138, 181
depressions, errors concerning causes
and cures
disbandment of bureaucrats,
52–54
“enough to buy back the prod-
uct” concept of wages, 133
industry failures, 83
inflation as cure for, 147, 151
machinery and unemployment, 36
185
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parity prices as cure for, 76
and savings, 163, 164, 167
wage/cost/price maladjustments,
153–54
destruction, fallacy regarding eco-
nomic benefits of, 13–16
disbandment of government person-
nel, 51–54
division of labor, 15, 33, 91, 179, 181
See also
subdivision of labor
Douglas, Major, xiii
Douglas, Paul H.
Theory of Wages, The
, 136
economic equilibrium, 138–39
economic fallacies, summary of cen-
tral concepts, 3–7
Edwards, Corwin, 36–37
employment, full, 41, 55–57, 78, 139,
152
“enough to buy back the product”
concept of wages, 133–39
ever-normal granary, 99–100
exports, 69–73, 80, 147
See also
tariffs
fallacies, economic, summary of cen-
tral concepts, 3–7
farms and farming
controls for production, 97–103
government credit, 25–29
parity prices, 75–81
Federal Wage-Hour Law, 47
Federalist Papers
(Hamilton), 110
Felkin, William
History of the Machine-Wrought
Hosiery Manufacturers
, 34
Financing American Prosperity
, 152n
foreign exchange, 70, 151
foreign governments, government
loans to, 71–73
full employment, 41, 55–57, 78, 139,
152
Full Production bills, 56
gold standard, 70, 151
government, deficit financing by,
51–52, 155–56
government credit, 25–32, 71–73
See also
commodities, contols for
government personnel, disbandment
of, 52–54
government price-fixing.
See
price-fix-
ing by the government
government subsidies.
See
subsidies,
government
Guffey Act, 84
Hamilton, Alexander
Federalist Papers
, 110
Hansen, Alvin, xiii
History of the Machine-Wrought Hosiery
Manufacturers 
(Felkin), 34
hoarding of money, 162–64
Home Owners Loan Corporation,
31–32