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.
“Clear and concise…Among economists of the past 30 years, [Sowell] stands very proud indeed.” (Wall Street Journal)
Who knew a book on economics would be so readable? I gave the book 5 stars because the material is so important. The reader is decent, but it's a book where it is a bit harder to judge the reader's talents...
This book should be read (or listened to) by every high school senior in the United States, and anyone older who has not yet been exposed to the clear sanity of Thomas Sowell. The country would immediately shift to a more conservative stance, and our reliance on government would be reduced.
Very well written, and read by the narrator, a must buy for any serious follower of politics.
I was looking for a basic text on economic theory that help me understand the "science." After listening to the first half of this book, I stopped when the author said there might be a role for the government regulating work place safety because if a tired engineer on a train fell asleep and caused it to crash, non-workers might be hurt.
Far from being a text on economic theory, it's an unapologetic rant on free market capitalism. Collective bargaining hurts the economy, but it's OK for large companies to use their buying power to threaten suppliers.
If you feel that free market capitalism will cure cancer, then this book is for you. If you think economics is more than just optimizing production, look for something with more nuanced thinking.
I had high hopes for this book, but was badly disappointed. I was expecting an unbiased and interesting presentation of economic concepts; I got a partisan diatribe that drones on and one. Read some of the other less flattering reviews here; they're spot on.
Perhaps but it failed to offer differing perspectives.
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.
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