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 ...
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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 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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Professor Sowell has written an exceptionally clear exposition on economics, in this book. It is not filled with graphs and calculus. Instead it focuses on historical examples to explain the precepts of economic theory. Very effective.
Robert G
Apr 5, 2012
Basic Economics
Wish I had read this book before taking college economics. Very readable. Excellent explanation of economic principles. You will look at all the current political comments on the economy in a different light after you read this book.