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

From the Publisher

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.

Ideas On Liberty

Thomas Sowell is one of the fine scholars of our time.

Policy

If there is a single recent book that can advance economic literacy in this country, it is Thomas Sowell's latest book, Basic Economics . . . Sowell has managed to make economics humane again, relevant and interesting to young people and ordinary citizens . . . Buy a copy and read it immediately-no: buy two, and give one to a school teacher, a journalist, or a politician near you!

Wall Street Journal

Clear and concise . . . Among economists of the past 30 years, [Sowell] stands very proud indeed.

Business Wire

At last there is a citizen's guide to the economy, written by an economist who uses plain English . . . A comprehensive survey.

Claremont Review

Badly needed . . . Anyone who has been subjected to biased and dreary economics textbooks should read Basic Economics as a bracing corrective.

The American Spectator

Basic Economics might do a great service in the hands of the lay voter for whom it is intended. Sowell fans will find it a good read and a good resource. His enemies will be no more inclined than usual to forgive him for deflating their most dearly held myths.

The Washington Times

Dr. Thomas Sowell has just released his latest treasure . . . Basic Economics is not only valuable for a general lay-person audience; it would also benefit lawyers, politicians, and, yes, economists, as well.

American Spectator

Sowell fans will find it a good read and a good resource.

Laissez-Faire Books

Basic Economics complements Henry Hazlitt's great classic Economics in One Lesson.

George Will

Basic Economics is not only valuable for a general lay-person audience; it would also benefit lawyers, politicians and, yes, economists. . .

Deseret News

All Democrats should be required to read Thomas Sowell's book 'Basic Economics'...

Library Journal

Syndicated columnist Sowell (economics, Hoover Inst.) is the author of 31 books and monographs on a broad range of topics, including race, culture, education, social policy, philosophy, and economics. In this groundbreaking work, he explains the basics of economics without resorting to the graphs, equations, and jargon that typically fill the textbooks and literature in the field. Along the way, he explains exactly what economics is and what its guiding principles are. Sowell covers a broad range of topics, from scarcity, the balance of trade, and price controls to minimum-wage laws, competition, profits and losses, and the role of government. Intended as a primer for the citizen not trained in the basics of economic theory, this book is flawed only in a somewhat confusing organization that leads to repetition. Recommended for public libraries. Norm Hutcherson, California State Univ., Bakersfield Copyright 2001 Cahners Business Information.

Booknews

Sowell, one of America's best-known economists and a fellow of the Hoover Institution at Stanford University, explains the economy in plain English for general readers, covering everything from rent control to the international balance of payments. He uses examples drawn from around the world and from different time periods to show how whole societies create property or poverty for their people by the way they organize their economies. Chapters are in sections on prices, industry and commerce, work and pay, time and risk, the national economy, the international economy, and popular economic fallacies. Annotation c. Book News, Inc., Portland, OR (booknews.com)

Product Details

• Table of Contents

Table of Contents