Review of Economics in Two Lessons – Why Markets Work so Well, and Why They Can Fail so Badly by John Quiggin 2019, Princeton University Press

John Quiggin is dissatisfied with Henry Hazlitt’s great book Economics in One Lesson and in the book under review he makes an elaborate attempt to set its author straight. Quiggin’s book, that sees solutions only through the concerted effort of governmental authority, misses some of the important lessons provided not only by Hazlitt but also by such economists as Hayek, Huerta de Soto and others, lessons that constantly have to be learnt and relearnt. Quiggin’s book has shown by omission that his case, to be made complete and convincing, is in urgent need of a third lesson in economics: on why government works so badly even when it intervenes in cases where markets work badly