Final answer:
Henry Hazlitt was a free-market capitalist economist who advocated for minimal government intervention in the economy. He was influenced by and aligned with classical economic thinkers like Friedrich Hayek and Adam Smith, and is well-known for his book 'Economics in One Lesson'.
Step-by-step explanation:
Henry Hazlitt was an influential economist known for his advocacy of free-market capitalism and criticism of government intervention in the economy. Hazlitt, a journalist, philosopher, and economist, was particularly influential in the mid-20th century and is best known for his book Economics in One Lesson, which elucidates the principles of classical liberalism and laissez-faire economics. His writing was inspired by economists such as Friedrich Hayek and Adam Smith, emphasizing the importance of individual choice and the dangers of central planning.
Hazlitt's economic philosophy was grounded in the concept that individual decision-making and market forces lead to more efficient and beneficial outcomes than those orchestrated by government policies. He was critical of Keynesian economics, which advocates for government intervention to moderate the boom and bust cycles of the economy.
In addition, Hazlitt's work took aim at policies he felt impeded economic growth and personal freedom. He maintained a consistent message that usurping the function of the free market with government control often leads to unintended consequences that can be detrimental to society. Hazlitt’s writings continue to be influential among proponents of classical economics and limited government intervention.