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Basic Economics: A Common Sense Guide to the Economy

Thomas Sowell
 
89 %
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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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Reviews (See all 113) Write a reviewfor this

It's a hit!

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)

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 subject that I expected to be very dry, Mr Sowell did an excellent job in keeping my attention. It was a relief to hear clarification of many thoughts that I have had in the past. A big one is the whole rent control thing in NYC. I saw this first-hand, never knew anyone of low income to benefit from it, and always felt that it accomplished the exact opposite of intentions of its implementation. But of course, this book covered much more than that. The book is rich in examples of the fundamentals. One could say that it sometimes gives too many examples and that the book could be much shorter than it is, but I found the repetition of concepts to be great for an audiobook while commuting, as the occasional distractions of driving would not be enough to throw me off from the book. The book has peaked my interest in economics and I see myself continuing my education in this area in the near future. (show less)

 
 
by Facebook-användare
No, it's a flop!

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.

     
     
    by Facebook-användare on Oct 29, 2009 at 04:47PM

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  • Atom Jones

    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.

     
     
    by Atom Jones on Aug 16, 2009 at 09:42PM

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  • 0

    This is a good book and many of the negative reviews simply illustrate how often arrogance and ignorance go hand-in-hand.

    Facebook-användare 3 days ago
     
     
     
     
     
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