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.
I am no longer intimidated by economics!
I won't become an expert like Mr Sowell is, but I will understand and be able to debate people and occasionally win. If Sowell had been a liberal, would he have been able to write something as understandable and jargon free as this? I think not!
What an author!
I enjoyed this book so much I listened to it twice and am now debating with friends and colleages concerning the allocation of scarce resources with alternate uses. This book states concepts that are complex but illustrates them with relatable examples. It seems that Mr. Sowell really wanted the reader to understand what he was talking about, rather than try to show how smart he is. None the less, he eloquently accomplishes both. What an incredible and genius economist!
Makes economics interesting and even entertaining. Very refreshing to have the concepts set forth in an easy to understand way that seems uncolored by any underlying agenda - liberal or conservative. I felt comfortable that the facts were set forth as they were - not massaged to make a particular point.