“Economics in One Lesson”: A Discussion with Hoover Institution Fellow David R. Henderson

Posted on November 19, 2021

***View a Recording of the Event***

GREENWICH — State Representative Kimberly Fiorello recently hosted a lecturer from Stanford University’s Hoover Institution for a discussion of Fairfield County-native Henry Hazlitt’s Economics in One Lesson, first published 75 years ago.

David R. Henderson, a research fellow with the Hoover Institution and professor of economics at the Naval Postgraduate School, served as guest host for the discussion, which touched upon the unforeseen consequences of government stimulus and inflation in the context of Connecticut’s current struggles with rising prices.

State residents watched the average price of consumer goods jump 6.2% in October, according to the U.S. Bureau of Labor Statistics, the highest recorded rate of inflation since 1990.

While lawmakers at the state level are limited in their ability to combat inflation, Fiorello says they do have an obligation to pursue meaningful property and fuels tax relief for the individuals most victimized by this regressive ‘inflation tax’.

She also pointed to Gov. Lamont’s recent comments in support of modest property tax relief as evidence that government can, and should be doing more — not only to reduce taxes, but to double-down on fiscal controls that limit reckless government spending.

“Without diving into graphs or data, Henry Hazlitt has laid down principles for citizens to hold government accountable for its faulty economic policies,” Rep. Fiorello said. “If we’re experiencing inflation, citizens shouldn’t look to government to tell them whether or not it’s just a transitory phase — we should be enraged, and we should be demanding relief from what is really another tax on us all.”

“They say politics is downstream from culture. Unfortunately, our politicians’ spending habits are just reflections of what We the People are asking for,” she continued. “We truly need more people to read this book and demand differently.”