Publisher Description
Thomas Sowell has a different idea about how economics should be taught. With this groundbreaking introduction to economics, Sowell has thrown out the graphs, statistics, and jargon. Learning economics, he believes, should be relaxing—and even enjoyable.
Sowell reveals the general principles behind any kind of economy—capitalist, socialist, feudal, and so on. In understandable 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.
In this edition, Basic Economics has been revised and expanded to address the new concerns of the twenty-first century. It’s focus has become more international, including the range of economic problems faced by foreign countries around the world. Each chapter reflects the experiences of many different peoples and cultures. In his straightforward style, Sowell demonstrates that the basic principles of economics are not confined by national borders.
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“It is too bad that most people aren’t interested in REALLY becoming informed about how the world of economics works. Instead, they listen to the pundits on the news channels, or their political idols, or their sociology professors (who may not even be able to give a basic definition of economics)…on and on. They follow like sheep, and are herded by dogs who insure that they never expand their knowledge. So, if you really want to make your own informed decisions, read this book. Yes, it is basic economics, which is what I really needed right now. I was a little fuzzy on the college economics courses I took over 30 years ago. And, of course, the world has changed…and Sowell describes the changes in relationship to economic theories/definitions. He writes in a very easy to understand manner. But I am very fearful after reading this book….fearful that we shall very soon look just like Greece…..”
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Pam (5 out of 5 stars)
