Basic Economics: A Citizen's Guide to the Economy

Overview

Basic Economics has been written with the thought that learning economics should be not only a relaxed experience, but also an enjoyable one.

This is the revised and enlarged edition of a new kind of introduction to economics for the general public-without graphs, statistics, or jargon. In addition to being updated, Basic Economics has also become more internationalized by including economic problems from more countries around the world, because the basic principles of economics...

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Overview

Basic Economics has been written with the thought that learning economics should be not only a relaxed experience, but also an enjoyable one.

This is the revised and enlarged edition of a new kind of introduction to economics for the general public-without graphs, statistics, or jargon. In addition to being updated, Basic Economics has also become more internationalized by including economic problems from more countries around the world, because the basic principles of economics are not confined by national borders. While most chapter titles remain the same, their contents have changed considerably, reflecting the experiences of many different peoples and cultures.

Author Biography: Thomas Sowell is the Rose and Milton Friedman Senior Fellow on Public Policy at the Hoover Institution, Stanford University. He has taught economics at colleges and universities across the country and has published articles and books on economics in the United States and overseas.

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Editorial Reviews

Deseret News
All Democrats should be required to read Thomas Sowell's book 'Basic Economics'...
George Will
Basic Economics is not only valuable for a general lay-person audience; it would also benefit lawyers, politicians and, yes, economists. . .
American Spectator
Sowell fans will find it a good read and a good resource.
Laissez-Faire Books
Basic Economics complements Henry Hazlitt's great classic Economics in One Lesson.
Library Journal
Syndicated columnist Sowell (economics, Hoover Inst.) is the author of 31 books and monographs on a broad range of topics, including race, culture, education, social policy, philosophy, and economics. In this groundbreaking work, he explains the basics of economics without resorting to the graphs, equations, and jargon that typically fill the textbooks and literature in the field. Along the way, he explains exactly what economics is and what its guiding principles are. Sowell covers a broad range of topics, from scarcity, the balance of trade, and price controls to minimum-wage laws, competition, profits and losses, and the role of government. Intended as a primer for the citizen not trained in the basics of economic theory, this book is flawed only in a somewhat confusing organization that leads to repetition. Recommended for public libraries. Norm Hutcherson, California State Univ., Bakersfield Copyright 2001 Cahners Business Information.
Booknews
Sowell, one of America's best-known economists and a fellow of the Hoover Institution at Stanford University, explains the economy in plain English for general readers, covering everything from rent control to the international balance of payments. He uses examples drawn from around the world and from different time periods to show how whole societies create property or poverty for their people by the way they organize their economies. Chapters are in sections on prices, industry and commerce, work and pay, time and risk, the national economy, the international economy, and popular economic fallacies. Annotation c. Book News, Inc., Portland, OR (booknews.com)
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Product Details

  • ISBN-13: 9780786146222
  • Publisher: Blackstone Audio, Inc.
  • Publication date: 10/28/2006
  • Format: Cassette
  • Edition description: Unabridged, 13 Cassettes
  • Product dimensions: 4.40 (w) x 6.20 (h) x 2.60 (d)

Meet the Author

Thomas Sowell is a senior fellow at the Hoover Institution, Stanford University, and the recipient of many awards, including the Bradley Prize in 2003. During his long career at numerous academic institutions and think tanks he has taught and written abou

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Table of Contents

Preface
1 What is Economics? 1
Pt. I Prices and Markets
2 The Role of Prices 7
3 Price Controls 21
4 An Overview 41
Pt. II Industry and Commerce
5 The Rise and Fall of Businesses 63
6 The Role of Profits - and Losses 78
7 Big Business and Government 99
8 An Overview 119
Pt. III Work and Pay
9 Productivity and Pay 141
10 Controlled Labor Markets 159
11 An Overview 176
Pt. IV Time and Risk
12 Investment and Speculation 191
13 Risks and Insurance 210
14 An Overview 229
Pt. V The National Economy
15 National Output 245
16 Money and the Banking System 257
17 The Role of Government 271
18 An Overview 295
Pt. VI The International Economy
19 International Trade 307
20 International Transfers of Wealth 327
21 An Overview 346
Pt. VII Special Economic Issues
22 "Non-Economic" Values 359
23 Myths About Markets 372
24 Parting Thoughts 390
Questions 397
Sources 407
Index 433
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