Sunday, May 17, 2009
Hazlitt's "Economics in One Lesson" in Bulgarian
It is pleasant to brag and I think there is nothing wrong with a little bragging after having done a good job.
Some time ago I wrote how nice it would be to make Henry Hazlitt's Economics in One Lesson known to the Bulgarian reader. Recently, the book was published in Bulgarian in my translation. The price is 10 leva; more details at the sites of the publishers MaK and Iztok-Zapad.
Economics in One Lesson defends the free market with simple and logical arguments understandable for a broad circle of readers (i.e. no special expertise in economics is needed). I am glad that the book is published in Bulgaria right now, in the midst of the global economic crisis. Unfortunately, market disturbancies mess with people's heads and we are seeing more and more economists who are expected to be in their right mind to insist on stronger government intervention in economy and even for total government control. Here in Bulgaria, we have been there and done this. Let's prefer experience, logic and common sense.
The above text is a literal translation of my May 9 post on the subject on my Bulgarian blog. After that post, I had a discussion with a Bulgarian-American commenter. She expressed disagreement with me and said that every single sane economist is now demanding more government intervention. She also cited a Nobel Prize-winning economist who seriously stated that free market must be abandoned and replaced with another economic system. I didn't quite understand what exactly this new system was supposed to be; it seemed that only the mighty intellect of a Nobel Prize winner could do such a feat. Because my rule is to avoid advertising the enemy for free, I won't give the name of the guy here. I am writing about him just to show that the problem turned out to be much more serious than I was anticipating. Where are the sane and honest economists? Please speak out and try to bring people back to their senses! We lay folks cannot and should not fight your battle. I am too often bashing arrogant ignorant people to risk presenting myself as one of them, a lay person criticizing experts. Anyway, with my translation of Hazlitt's book I have already done my best.
Instant update: I decided, however, to reveal the identity of my renowned in-absentia opponent - Paul Krugman.