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Basic Economics 3rd Ed: A Common Sense Guide to the Economy
by: Thomas Sowell

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Binding: Hardcover
Dewey Decimal Number: 330
EAN: 9780465002603
ISBN: 0465002609
Label: Basic Books
Manufacturer: Basic Books
Number Of Items: 1
Number Of Pages: 640
Publication Date: April 02, 2007
Publisher: Basic Books
Sales Rank: 1502
Studio: Basic Books

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Product Description:

Basic Economics is a citizen’s guide to economics-for those who want to understand how the economy works but have no interest in jargon or equations. Sowell reveals the general principles behind any kind of economy-capitalist, socialist, feudal, and so on. In readable language, he shows how to critique economic policies in terms of the incentives they create, rather than the goals they proclaim. With clear explanations of the entire field, from rent control and the rise and fall of businesses to the international balance of payments, this is the first book for anyone who wishes to understand how the economy functions.

Customer Reviews

Average Rating: out of 5 stars

Rating:

- A must-read
This book is a must-read for anyone desiring to understand economics. I think it's an essential read if you want to know what's really going on in our economy. This book is an easy read too. It's written for everyone no matter what your intellectual capacity is. Don't let the mainstream media tell you what's going on in our economy, understand it for yourself. I knew practically nothing about economics before reading this book. Thomas Sowell is a master at making the seemingly complex easy to understand. This book is on Rush Limbaugh's list of must-reads.

Rating:

- The book everyone should read
Thomas Sowell has demonstrated once again that economics does not have to include lengthy, convoluted concepts, charts or jargon. 'Basic Economics' should be in every high school and college library. Economic teachers/professors would be wise to include this gem for classroom instruction as there are excellent concepts and historical content presented logically with great care and clarity.

I applaud this work as it avoids the usual sterile presentation of economics. The book is indeed engaging while maintaining the goal of being informative and factual. Plus, it is so very timely.

Much of what Sowell states in this book can be applied to our current economic situation. In fact, this book was published 18 months ago and provides solid, factual examples and relevant information on what happens when governments provide 'bail-outs' along with reactions of various economic systems to failed ... Read More

Rating:

- difficult, yet worthwhile read
Sowell systematically lays out the basis for free market economics.

I must admit, I was exceedingly ignorant of economics as a whole prior to reading this and "Classic Economics", also by Sowell.

This is one of the most important books I've ever read.

Rating:

- Required Reading for Inquiring Americans
The phrase, "required reading" is thrown around a lot by the zealots of one particular novel or series. The term is purely subjective, and I rarely yield to their fervor when someone says, "everyone needs to read this book." Fiction is a wholly personal experience, the derived enjoyment purely reliant on each readers interpretation of the text. Basic Economics, however, is something entirely different. This book should be required reading for all Americans. I can say unequivocally that I have not read a more illuminating or insightful text in my life. Thomas Sowell is an economics professor at Stanford and an ardent supporter of objective and empirical approaches when studying the economy. Basic Economics is his attempt at stripping down economics to their most basic principles, supply and demand, profits and losses, etc; In doing so, he reveals many of the fallacies surrounding a free market economy, and contrasts ... Read More

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