This is our gift to you: “Economics in One Lesson” by Henry Hazlitt
You will find the downloadable pdf version below.
Our gift is the effort to get a copy into your possession in the hopes that you will read it. We also encourage you to forward copies to everyone that you know, including family, friends, business associates, and in particular give copies to every young person that you can. The book is an easy read, but contains wisdom that is often hard to come by these days.
Here is why we feel that this book is so important:
Most of the critical problems that we are facing in this country today stem from a rampant ignorance of basic economics. A Congress and an electorate that understood simple economics would never have allowed us to get into the budgetary wastefulness and debt crisis that the country now faces. Many people fail to understand that the laws of economics are like the laws of gravity–you ignore them at your peril.
Unfortunately most of our schools don’t teach this, and our children graduate without the necessary knowledge needed to make sound financial and life altering decisions in later life. This book is only a start, but it can be the seed that germinates into the fruit that drives the quest for knowledge and truth. This is true regardless of your political leanings or religious beliefs, and we truly hope that you will benefit from it.
Here is the book description as listed at the Mises Institute, where this and many other related books can be found:
“Henry Hazlitt wrote this book following his stint at the New York Times as an editorialist. His hope was to reduce the whole teaching of economics to a few principles and explain them in ways that people would never forget. It worked. He relied on some stories by Bastiat and his own impeccable capacity for logical thinking and crystal-clear prose.
He was writing under the influence of Mises himself, of course, but he brought his own special gifts to the project. As just one example, this is the book that made the idea of the “broken window fallacy” so famous. Concise and instructive, it is also deceptively prescient and far-reaching in its efforts to dissemble economic fallacies that are so prevalent they have almost become a new orthodoxy.
This is the book to send to reporters, politicians, pastors, political activists, teachers, or anyone else who needs to know. It is probably the most important economics book ever written in the sense that it offers the greatest hope to educating everyone about the meaning of the science.
Many writers have attempted to beat this book as an introduction, but have never succeeded. Hazlitt’s book remains the best. It’s still the quickest way to learn how to think like an economist. And this is why it has been used in the best classrooms for more than sixty years.”
So what are China’s next strategy moves in the Asia-Pacific Region? What does the PLA really think about the U.S. military and its capabilities? –a bizarre perception that encourages them to push harder now.
China has now been successful at establishing its Air Defense Identification Zone (ADIZ) in the South China Sea. In the process, we have seen a bizarre, almost schizophrenic, series of contradictory communications on the subject coming out of Washington that have enhanced China’s successful roll-out.
Following the roll-out, China’s lone aircraft carrier (sans aircraft) departed for the South China Sea for a “show the flag” cruise. Next, we witnessed a near collision by U.S. and Chinese naval ships in the South China Sea.
This program is Part 2 of the conversation between David Day and China-Hand Michael Sacharski. Mr. Sacharski has spent some 3+ decades in China, met and worked with various members of its leadership and has fascinating perspectives to share about China’s ADIZ planning & gameplan, its unexpected success in the imposition of its new ADIZ in the East China Sea, and what strategic moves we can now expect China to make in the Asia-Pacific Region in the near term. Mr. Sacharski is the CEO of Pacific Enterprise Capital.
What is the nuclear deal that has been negotiated with Iran and just how did the U.S. get here?
There are serious questions as to whether it will succeed as there are areas where it does come up remarkably short. What does this initial deal really mean for future US relations with Iran, with Israel, and all the countries of the Middle East? What opportunities and risks does it hold for the US and the world?
David Day engages in a fascinating and educational conversation with Professor Jeswald Salacuse from the Fletcher School of Law and Diplomacy of Tufts University, and David Santoro, the nuclear expert at Pacific Forum CSIS in Honolulu. Dr. Salacuse is the former Dean of the Fletcher School, a prolific writer on the topic of international negotiations.
Are there unusual crossovers of the new China ADIZ (Air Defense Identification Zone) with both Taiwan and South Korea? There are and the Taiwan piece is perhaps something that most people do not know. Is China’s new ADIZ over the Senkaku islands a precursor to further ADIZs China may have in mind? What is this new Air Defense Zone that China has imposed in the East China Sea all about? How did we get here? What about the schizophrenic, wires-crossed responses coming out of the Pentagon and the State Department?
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“Asia in Review” host David Day engages in a fascinating conversation with special guest Michael Sacharski. Mr. Sacharski has lived and worked in China as an American executive and entrepreneur for some 3+ decades and shares some interesting insights into the Chinese thinking behind this new strategy. Mr. Sacharski is the CEO of Pacific Enterprise Capital.
In this broadcast,“Asia-in- Review” Host Hong Jiang explores Russia’s recent foreign policy and geopolitical shifts into Asia followed by its fascinating energy moves into the Region with international business lawyer & professor, David Day.
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The program starts with the recent Russian foreign policy moves into the Middle East after the U.S. Syria debacle, followed by the new Russian military arms sales to Egypt, and some discussion of Russia’s client nuclear state, Iran. The Russian geopolitical moves into Asia are next, as Hong Jiang discusses with Mr. Day, Putin’s recent trip to Vietnam, along with Russia’s (1) Kilo class submarine sales to Vietnam,(2) mutual defense pact, and then (3), new joint venture operations between Vietnam’s PetroVietnam and Russian energy companies for joint oil & gas exploration efforts in both the South China (“East Sea” in Vietnam) and the Artic Seas.
Next, the conversation turns to the critical and fascinating energy “pivot” that Russia is now engaged in, shifting its focus from its former European gas and oil pipeline customers to new pipeline developments with Japan, South Korea, and yes, even North Korea.
Russia’s foreign policy regarding The Korean Peninsula is also probed.
Haiyan has devastated parts of the Philippines beyond recognition. Where are we? What is happening on the ground? What kind of recovery period are we looking at?
“Asia in Review” host David Day engages in an important and fascinating conversation about this terrible disaster with special guests Vice Consul Joy Santos of the Philippine Consulate, Ray Shirkhodai, the Executive Director of the Pacific Disaster Center on Maui, along with Dr Heather Bell, also of the Pacific Disaster Center.
In the wake of the state funeral for Vietnam’s legendary General Vo Nguyen Giap, we thought it appropriate to share with you some heartbreaker photos taken in August of 1945 in the mountains outside of Hanoi. They are heartbreakers only if you recognize what could have been, instead of the carnage that followed.
We do not ascribe blame for the failure to build on this relationship but only want to point out that it did not happen and perhaps, could have.
American OSS Deer Team with Ho Chi Minh & Vo Nguyen Giap August, 1945 Pac Bo, Vietnam
In the photo above, American OSS (Predecessor to the CIA) “Deer Team” members pose with (then) Viet Minh leaders Ho Chi Minh and Vo Nguyen Giap during a military training at Tan Trao, in the mountains north of Hanoi in August, 1945. Deer Team members standing, l to r, are Rene Defourneaux, (Ho Chi Minh), Allison Thomas, (Vo Nguyen Giap), Henry Prunier and Paul Hoagland, far right. Kneeling, left, are Lawrence Vogt and Aaron Squires. (Rene Defourneaux).
Ho Chi Minh, Vo Nguyen Giap (in the white suit), and the Deer Team 1945
Toward the end of World War II, the U.S. Office of Special Operations (the OSS), the precursor to the CIA, started doing business with the communist-dominated Viet Minh, led by the ascetic and mysterious globe trotter Ho Chi Minh. The aim was to use the Viet Minh to drive the Japanese out of what had been French Indochina. But events were moving way too fast for coherent American policy to be made.
In return for the Viet Minh’s help against the Japanese, the OSS provided the Communist-dominated group with weapons, radio sets, medicines and training. The two groups quickly became very friendly and fought as comrades-in-arms in capturing the Japanese garrison at Tan Trao. They celebrated by getting drunk together. Along the way there would be such incongruous (in retrospect) actions as an OSS medic saving the life of the very sick Ho Chi Minh.
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The Japanese, traumatized by Hiroshima and Nagasaki, surrendered much earlier than expected. Ho’s forces declared independence the very same day that General MacArthur accepted the formal Japanese surrender on the deck of the USS Missouri, September 2, 1945. In so doing, Ho’s Viet Minh looked to America for friendship and even included some phrasing from the American Declaration of Independence in their own, with Ho carefully checking the words of Thomas Jefferson with his OSS colleagues by radiophone from a shophouse in Hanoi’s Old Quarter as it was being drafted.
The Vietnamese Declaration of Independence that Ho Chi Minh drafted begins:
“To the compatriots of the entire country,
All men are created equal; they are endowed by their Creator with certain inalienable Rights; among these are Life, Liberty, and the pursuit of Happiness. This immortal statement was made in the Declaration of Independence of the United States of America in 1776. In a broader sense, this means: All the peoples on the earth are equal from birth, all the peoples have a right to live, to be happy and free…”
Ho Chi Minh delivering the Declaration of Independence for the Democratic Republic of Vietnam, September 2, 1945 Ba Dinh Square, Hanoi
Ho was clearly influenced by the political writings and values of the American Founders. Up on the stage at Ba Dinh Square in Hanoi, clear for all to see, OSS Major Archimedes Patti stood behind Ho. There are photos of Patti saluting the Vietnamese flag as the band played the Vietnamese and the US national anthems. Then, coincidentally, a clearly-marked U.S. plane flew over Ba Dinh Square during the ceremony. Was it by accident or design? It remains a mystery. Either way, it was apparent to everyone in the square that day that Ho Chi Minh (and Vo Nguyen Giap) had powerful backers and that the forces of Ho Chi Minh were clearly the political and spiritual leader of the Vietnamese revolution against the country’s French overlords.
Meanwhile, Chiang Kai-Shek’s undisciplined and rapacious troops, defeated Japanese forces, some French military people and colons and a few bemused Americans all milled around in Hanoi waiting for resolution of the dangerous and confused situation in which Indochina found itself at the end of World War II.
The U.S. adventure in Hanoi ended quickly, and it swiftly became clear that the French would fight to regain their lucrative colonies in Indochina. After all, because the mother country was, at the time, reduced to rubble–it was critical for France that she quickly re-open her colonial cash pipeline from Vietnam in the rubber, tin and other profitable Vietnamese exports of that era.
Following the Japanese surrender on September 2, 1945, the French began to return to Hanoi and Saigon and made it clear that they had no intention of abandoning the colony. In an effort to block the French return, Ho Chi Minh sent several telegrams to Washington seeking assistance against the French. These telegrams were written by Ho personally, and typed on his own typewriter. The telegrams were addressed to President Truman, sent via the State Department, but, oddly, never delivered to Truman. Here is one of several Ho sent in 1946:
Ho Chi Minh Telegram to President Truman February 1946
At the same time, bewildered U.S. policy makers in the inexperienced Truman administration were dealing with domestic pressures to send U.S. forces home and anxiety about upsetting the French. While the precise point at which the Truman Administration turned its back on Vietnam is unclear, we do know that France was desperate to re-start its colonial cash flow and de Gaulle, always playing hard to get, was dragging his feet during the negotiations on French participation in the precursor to NATO, the Western Union, initiated formally in 1948.
President Truman did not share Roosevelt’s strong democratic principles. He was more concerned with keeping the French happy as a major business and security partner, as well as helping stand that country back upon its feet again. Plus, there was already on the horizon the “Great Imagined Fear” of the Russians, and de Gaulle knew how to play his cards just right. De Gaulle, in mid-march 1945, had already said in discussion with the (then) Roosevelt administration:
“What are you driving at? Do you want us to become, for example, one of the federated states under the Russian aegis? The Russians are advancing apace as you well know. When Germany falls they will be upon us. If the public here comes to realize that you are against us in Indochina there will be terrific disappointment and nobody knows to what that will lead. We do not want to become Communist; we do not want to fall into the Russian orbit, but I hope that you will not push us into it.”
[by, say, letting the Vietnamese have democratic control over their own country].
Truman and the U.S. State Department made no response to Ho Chi Minh’s numerous telegrams seeking assistance against the French. Washington feared that in the chaos and economic distress of immediate post-war France that the communists would take power there. So it pulled back from what had seemed to have been its support for Vietnamese nationalism under the Viet Minh and began to support the French.
The die was cast for a future conflict and, as Minister of Defense during the Vietnam War, Vo Nguyen Giap, would play a crucial role against his old comrades from the United States.
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To learn a little more about this history, check out the following articles:
“The first social responsibility and professional ethic of media staff should be understanding their role clearly and being a good mouthpiece.
Journalists who think of themselves as professionals, instead of as propaganda workers, are making a fundamental mistake about identity.”
–Hu Zhanfan, President of CCTV
All news media in the People’s Republic of China is state-controlled, with the larger ones (Xinhua, People’s Daily, CCTV) reporting directly to the Communist Party’s Central Propaganda Department (CPD). The watchdog group, “Reporters without Borders,” ranked China 174 out of 179 countries in its 2012 worldwide index of press freedom. Journalists face harassment and prison terms for violating government censorship rules. Chinese media disseminators usually employ their own monitors to ensure political acceptability of their content.
Hong Jiang Deputy Director (Hawaii) New Tang Dynasty Television (NTDTV) Assoc Prof, UH Manoa
The People’s Republic of China (PRC) has roughly 700 credentialed news media representatives United States. The number of U.S. reporters in China is generally less than 20. The Chinese reporters are, for the most part, government agents who are allowed free rein in the U.S. to fulfill their mission. Their U.S. counterparts in China work for independent news organizations and are routinely harassed, including having their visas denied or delayed, sources beaten and arrested, travel restricted, and their physical safety threatened.
Kerry Gershaneck fmr US Govt Public Affairs Official fmr U.S. Marine Officer Senior Assoc, Pacific Forum CSIS Adj. Prof. Hawaii Pacific University in Communications Strategic Communications Expert
In this program, “Asia in Review” host David Day engages in a fascinating conversation on this sensitive topic with special guest Ms. Hong Jiang, the Deputy Regional Director (for Hawaii) from the independent US-based TV network, New Tang Dynasty Television (NTDTV) and an Associate Professor at University of Hawaii at Manoa; Also joining Ms. Jiang is Mr. Kerry Gershaneck, a former senior US government Public Affairs official who teaches Strategic Communication at Hawaii Pacific University.
The show focuses on the implications of this news media coverage imbalance and how it plays into the larger “information war” between the US and the PRC that former Secretary of State Clinton alluded to in testimony before Congress. Ms. Jiang and Mr. Gershaneck address the question of whether this imbalance now gives the PRC a significant advantage in its “Soft Power” and other “influence operations” directed at the U.S. and what the U.S. can begin to do to level the Information playing field with the PRC.
This show is a fascinating, in-depth conversation about the collapse of one of China’s key
Michael Sacharski, CEO Pacific Enterprise Capital
Princelings, Mr. Bo Xi Lai. What is different about this program is that the guest, Mr. Michael Sacharski, is a 3+decade American China Hand who has met and spent time with Mr. Bo on several occasions.
The conversation probes Bo’s extraordinary revolutionary pedigree, his rise as a charismatic, anti-corruption mayor of Dalian, moving to other key political positions before his final post as the crime-busting mayor of the huge city of Chongqing. The program includes a conversation about how Mr. Bo departed from the consensus style of the typical senior, Chinese leadership and his political differences with members of the senior leadership. Interestingly, this discussion includes warnings to Bo from the Party about his wife, Gu Kai Lai (who is also a Princeling). The conversation includes a discussion of how this trial came about, why the Party is conducting the trial, and the relationship of Mr. Bo’s courtroom defiance to his own father’s conduct during his persecution by the Red Guards during the Cultural Revolution. This interview with Mr. Sacharski examines the interesting quanxi relationship that exists running from Bo Xi Lai’s father, Bo Yi Bo, to Jiang Zemin (Zhang Zemin) to a number of Politboro members, including Xi Jin Ping, and back to Bo Xi Lai, the son.
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Hosted by David Day, Mr. Sacharski draws upon his extraordinary meetings with the charismatic Mr. Bo and his knowledge of the history and inner workings of the Party to give the viewer a far more complete picture of this, China’s trial of the 21th century. The discussion concludes with a look towards Mr. Bo’s future and the likelihood that his opera is not over…down, but not out.
America’s relationship with Taiwan has waxed and waned since 1949, when Nationalist forces fled there following defeat by the Communists on mainland China in a lengthy and bloody civil war.
Kerry Gershaneck, former US Marine Officer stationed in Taiwan
Following this disastrous defeat and retreat, the US provided the security umbrella and economic incentives that helped propel the Taiwan into one of Asia’s leading economic “Tigers”. Taipei, in turn, supported US foreign policy and military policies. In recent years, however, a number of factors have caused that once-close relationship to drift. Some analysts say that actions by Taiwan and the US have placed Taiwan on a trajectory towards absorption by the PRC.
As one analyst noted, “Taipei is doing more damage to its own ability to deter mainland coercion and military attack than any weapon the People’s Liberation Army could conceive. This damage represents a serious threat to Taiwan’s national security, and by extension to the national security of the U.S. and Japan.” And the U.S., for its part, appears increasingly ready to sacrifice its national security and regional stability–and its fundamental beliefs as a nation–by refusing to reverse this drift.
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David Day hosts this illuminating conversation with Kerry Gershaneck, a former US government official previously responsible for both “front line defense” of Taiwan and for developing key security cooperation programs with its military forces.
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