Basic Economics, Fourth Edition

A Common Sense Guide to the Economy

By: Thomas Sowell

Narrated by: Tom Weiner

Length: 23 hrs and 50 mins

Publisher's summary

The fourth edition of Basic Economics is both expanded and updated. A new chapter on the history of economics itself has been added, and the implications of that history examined. Among other additions throughout the book, a new section on the special role of corporations in the economy has been added to the chapter on government and big business.

Basic Economics, which has now been translated into six foreign languages, has grown so much that a large amount of material previously found in the back of the book has now been put online instead so that neither the book itself nor its price will have to expand. The central idea of Basic Economics, however, remains the same: The fundamental facts and principles of economics do not require jargon, graphs, or equations and can be learned in a relaxed and even enjoyable way.

©2011 Thomas Sowell (P)2010 Blackstone Audio, Inc.

Critic reviews

“Clear and concise…Among economists of the past 30 years, [Sowell] stands very proud indeed.” ( Wall Street Journal)

Great Educational Stories

What did you love best about Basic Economics, Fourth Edition?

The author does a great job in telling basic stories to explain complicated economic theory. He goes into great detail about how we arrived at the current economy that we function in today and ties it back to historical occurrences that have helped shape our world.

What other book might you compare Basic Economics, Fourth Edition to and why?

This book is very similar to many current, popular business titles in that the author has a collection of smaller, real situations that illustrate and reinforce the overall theme of the book.

What does Tom Weiner bring to the story that you wouldn’t experience if you just read the book?

I was indifferent on the narrator. I can read it clearly in 3X and that is what is important to me in a narrator's voice.

Was there a moment in the book that particularly moved you?

Not really, but I was always looking forward to the next story and how economics either impacted or were impacted by the decisions made.

The title says it all.

Would you try another book from Thomas Sowell and/or Tom Weiner?

I would try another book by Thomas Sowell. This one is a good summary of basic economic concepts, that are explained well. The narration by Tom Weiner is excellent.

Would you recommend Basic Economics, Fourth Edition to your friends? Why or why not?

I would recommend Basic Economics to a friend that is looking for a book that explains the basic concepts of economics. It is easy to follow and Sowell makes the concepts easy to understand by using common sense examples.

What does Tom Weiner bring to the story that you wouldn’t experience if you just read the book?

Weiner brings the book to life. It started off slow, but Weiner kept me in it with his narration and authentic style.

Was Basic Economics, Fourth Edition worth the listening time?

Basic Economics was worth the 24 hours of listening time either as an introduction to economics or a tune up for someone who is in the real world having studied these concepts in college.

Myth Buster

Dr. Sowell presents economics in such clear and concise terms. Concepts, truths and fallacies all made crystal clear by detailed examples from economic history. Economics comes alive in this presentation.
The narration was so superb, He could make tax code interesting!

Fantastic introduction to economics

Thomas Sowell does a fantastic job of explaining economics in simple non-technical terms that anyone can understand. He points out the many misconceptions about economics and helps the reader / listener understand events attributed to economics in a better context.

This should be required reading for every high school student. Certainly this offers the level of understanding every voting of our society must have before they can make informed decisions.

Great Summary of Economics!

I really enjoyed this book. Thomas Sowell introduces economic concepts that really broadened my understanding of how the economy works. This is narrated very well. Listened to this on trips to work.

Highly recommend!!

Simplistic perspective

Would you recommend this book to a friend? Why or why not?

Perhaps but it failed to offer differing perspectives.

What could Thomas Sowell have done to make this a more enjoyable book for you?

In the last portion of the book when Thomas Sowell explained the different branches of Economics and it's history, I found that more worthwhile than everything prior.

You need this information

Where does Basic Economics, Fourth Edition rank among all the audiobooks you’ve listened to so far?

This book is one of the more important books I've consumed in recent years. As an art student, there was never a focus on economics, finance, politics, or math, so I never picked this stuff up in my formal education. The complexities of The Economy always seemed out of reach and too, well, dry, and uninteresting. I took an economics class in college (made a C) and it was not as interesting as this book (or as easy to understand). Sowell simplifies the concepts and relates them to every day life, making the whole thing very accessible. I would recommend this book to anyone that has never had an interest in the details, but still wants a basic understanding.

What does Tom Weiner bring to the story that you wouldn’t experience if you just read the book?

The narrator's speech was so clear that I was able to listen to this book at 2x speed and didn't miss a word.

Any additional comments?

If you think politicians are liars, you're right, and this book will reinforce that belief. It will also give you an appreciation of the complexity of the economy as a whole and the struggles economists deal with when it comes to policy and trying to get politicians to do the right thing.

fantastic - love this book

What made the experience of listening to Basic Economics, Fourth Edition the most enjoyable?

well taught - engaging

What did you like best about this story?

clear teaching - excellent content

Which character – as performed by Tom Weiner – was your favorite?

the narrator was fine - not hard to listen to

Did you have an extreme reaction to this book? Did it make you laugh or cry?

maybe some smiles & plenty of insights

Any additional comments?

like it

Very enlightening.

If you could sum up Basic Economics, Fourth Edition in three words, what would they be?

Masterfully crafted to make an academic subject interesting for 30+ hours of listening.

What other book might you compare Basic Economics, Fourth Edition to and why?

Listening to this book has been quite unique.

Very good exposition of basic principles

The books discusses lots of basic economy principles and that is very well done and instructive, and does make you think about some things in new light. I felt that, while a liberal in social issues, I tended to be more conservative in economic terms and that has been strengthened with this book.

However, one of my motivations for reading it is to have a greater understanding of economy news such as the financial crisis and the Euro crisis, and I don't think I am closer to that than I was before reading this book. This is a problem I noticed with other introductory economy books; they dwell on the elegant abstract principles but don't help a whole lot in understanding the gritty details in real life.

Tom Weiner narration is great: elegant, without getting in the way of the content.