For all those interested in Economics in One Lesson - The new infoposter "ECONOMICS" is now available: - the poster gives an overview of the development of economic theory from its beginnings. - the poster shows the historical roots of economic ideas and their application to contemporary economic policy debates. View and order at http://www.cee-portal.at/PrestaShop Best regards Martin Kolmhofer

1. Economics in One Lesson Introduction to Economics Metropolitan University Prague Martin Kolmhofer 2011/2012

2. The Lesson

9. The Broken Window

14. Public Work Means Taxes

18. Public Work Means Taxes

19. Public Work Means Taxes

20. The Blessings of Destruction

22. The Blessings of Destruction

23. The Blessings of Destruction

24. Taxes discourage Production

26. Taxes Discourage Production

27. Taxes Discourage Production

28. Credit Diverts Production

31. Credit Diverts Production Government-guaranteed home mortgages?

32. The Curse of Machinery

34. The Curse of Machinery 18 th century – industrial revolution - UK - textile industry - (Luddites)

35. The Curse of Machinery

37. Spread-The-Work Schemes

39. Spread-the-Work-Schemes Example: 35 hour week in France since 2000

41. Disbanding Troops and Bureaucrats

43. “ Purchasing Power" argument? When your money is taken by a thief, you get nothing in return. When your money is taken through taxes to support needless (?) bureaucrats, precisely the same situation exists. A man walks in a bar and asks the bartender to lend him 100 USD. He promises to spend them all in the bar… Conclusion: Always consider where the money that creates “purchasing power” comes from

46. The Fetish of Full Employment

50. The Fetish of Full Employment

51. Who’s protected by Tariffs?

54. The Drive for Exports

56. The Drive for Exports

59. Parity Prices

63. Saving the X Industry

67. How the Price System Works

68. How the Price System Works Example: Automatic "governor" on a steam engine: Every departure from the desired speed itself sets in motion the forces that tend to correct that departure.

71. All Scarce Goods Must Be Rationed Somehow

72. Stabilizing Commodities

76. Government Price Fixing

77. Government Price Fixing Price Ceilings

80. Minimum Wage Laws

83. Enough to Buy Back the Product

85. Enough to Buy Back the Product

86. The Function of Profits

91. The Mirage of Inflation

92. The Mirage of Inflation Setting the alarm clock earlier?

94. The Mirage of Inflation

95. The Assault on Savings

100. The Assault on Savings Virtually low interest rate leads to misallocation of resources. Projects cannot be completed because real savings are missing. (Construction Bubbles…)