“Production Versus Consumption” shows why the production of wealth, not the artificial creation of the need and desire to consume, is the fundamental problem of economic life. It develops the implications of these opposing basic economic premises for understanding the economic effects of machinery, war, government spending, population growth, advertising, technological progress, and inflation. The subject of a full Newsweek column by Henry Hazlitt, when it originally appeared, the essay is an antidote to much of the error in contemporary “macroeconomics” courses and in public opinion about economics.
It is available for 99¢ as a Kindle book at http://amzn.to/1cmUnGd.