Basic Economics: A Common Sense Guide to the Economy -- Thomas Sowell, Hardcover

The bestselling citizen's guide to economics

Basic Economics is a citizen's guide to economics, written for those who want to understand how the economy works but have no interest in jargon or equations. Bestselling economist Thomas Sowell explains the general principles underlying different economic systems: 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.

This fifth edition includes a new chapter explaining the reasons for large differences of wealth and income between nations.

Drawing on lively examples from around the world and from centuries of history, Sowell explains basic economic principles for the general public in plain English.

Author: Thomas Sowell
Publisher: Basic Books
Published: 12/31/2014
Pages: 704
Binding Type: Hardcover
Weight: 2.15lbs
Size: 9.30h x 6.10w x 2.30d
ISBN: 9780465060733

Review Citation(s):
Choice 05/01/2015 pg. 1556

About the Author
Thomas Sowell is a senior fellow at the Hoover Institution, Stanford University. He is the author of dozens of books including Charter Schools and Their Enemies, winner of the 2021 Hayek Book Prize. He is the recipient of numerous other awards, including the National Humanities Medal, presented by the President of the United States in 2003.