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Basic Economics 3rd Ed: A Common Sense Guide to the Economy By Thomas Sowell ( Basic Books )
Release Date: 2007-04-02
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List Price: $39.95
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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.
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 Should be required reading
Dr. Sowell's "Basic Economics" should be required reading for anyone graduating from college in any field or running for public office at any level. If you can't pass a test based on reading the book, no degree or no spot on the ballot. Not likely to happen, I know, but we'd all have a higher standard of living if it did. Had I the finances, I'd give a copy to every member of Congress and the state legislatures, and every governor and federal or state educational policy maker,not to mention Sens. Obama and McCain.
Robert A. Hall
Massachusetts Senate, 1973-83.
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Basic Economics ( wilb471 )
As usual Thomas Sowell has written a book "Basic Economics" that can provide a vital assist in understanding economics by the average American without the need for an extensive background in the complicated subject.
Fundamental understanding of the basics of economics by Americans is essential to the understanding of the use of our limited resources by making choices in using those resources. Thomas Sowell provides the essential knowledge of the subject matter through this 3rd edition that will provide the average person with the ability to follow the ups and downs of various economic decisions with some understanding of what is behind those ups and downs as related to the use of our limited resources.
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Basic Economics
Thomas Sowell should be required reading in schools. No one articulates complex subjects in such simple, understandable terms than this man. He's a great read. Simply great.
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Should Be Mandatory
My background is in computer science and engineering, not economics. I've been on a kick reading economics books lately. This book is by far the clearest and easiest to understand of the few that I've read. The topics are laid out very thoroughly with language that is easy to understand for a layman without being tedious. He makes the basics of economics understadable enough that I had many "doh, why wasn't I taught this in school" moments. I quickly got a "big picture" view of what I had previously thought were daunting topics.
I wish I would have read this in High School and if I were "teacher for a day" it would be required reading. Highly recommended.
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Required Reading ( threelilies )
This book is required reading for anyone wanting to vote in any country.
He starts with how prices, supply, and demand interact which is really basic economics and applies these principles to other aspects of economics such as labor, commodities shortages, housing prices, money supply, interest rates and international trade among others. Along the way he points out the unintended consequences of interrupting the signals that prices send in an economy.
Again, you don't have to agree with everything, but if you don't at least understand what is in this book you shouldn't be voting.
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