I listened to the audio version of this book while commuting to and from work. My biggest complaint is that my commute is not long enough. For a ... (show more)
Basic Economics: A Common Sense Guide to the Economy
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 busi... (show more)
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. (show less)
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I picked up this book hoping to extend the economics education i got in college. What I got instead was an ideologically charged diatribe of the go... (show more)
I picked up this book hoping to extend the economics education i got in college. What I got instead was an ideologically charged diatribe of the government and a love-fest of the free market.
Everything is backed up with anecdotal evidence and sweeping statements made with much hand waving. It sells itself on the fact that it has no "equations, graphs [or] jargon," but I find that to be a weakness. While it doesn't need be filled with graphs and such, some proofs would be nice. Instead he simply asserts things and moves on.
It does make some good points, but it is incredibly preachy and in most cases over simplified. If this is your only source of economics knowledge, you will become a free marketer, but other economics theories do make the case for government interventions in certain conditions. At $30 US this book is overvalued despite what he says, which is why I picked it up with the help of government intervention (the public library). (show less)
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Basic economic concepts from the former "marxist" now "arch-conservative" economic writer Thomas Sowell. Uses the following quote extensively "From a study by a team of Russian Economists" as validity for the many failures of central planning and why the free-market system is never wrong, except in the years 2006-2008 or anytime the phrase "Market Failure" is used.
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Easy to read. Easy to understand. The lessons found here will last a lifetime of observation and scrutiny. If you want to learn about economics and don't want unnecessary verbiage, this is the book for you.
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This is a good book and many of the negative reviews simply illustrate how often arrogance and ignorance go hand-in-hand.
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