Basic Economics

A Citizen's Guide to the Economy

By: Thomas Sowell

Narrated by: Brian Emerson

Length: 18 hrs and 31 mins

Publisher's summary

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 expanded edition of a new kind of introduction to economics for the general public, without graphs, statistics, or jargon. However, the enlargement of this edition is not just more of the same. In addition to being updated, Basic Economics has also become more international, with the inclusion of economic problems from more countries around the world, because the basic principles of economics are not confined by national borders. Each chapter reflects the experiences of many different peoples and cultures.

©2004 Thomas Sowell (P)2006 Blackstone Audiobooks

Critic reviews

"Clear and concise....Among economists of the past 30 years, [Sowell] stands very proud indeed." (The Wall Street Journal)
"Basic Economics is not only valuable for a general lay-person audience, it would also benefit lawyers, politicians, and, yes, economists, as well." (Washington Times)

Very Good Book. It Is Economics Though.

Good economics book in terms you can understand. The only thing I didn't care for was there seemed to be some background noise at all times. Worth the listen if you're into it.

Fantastic book, decent narrator

Highly recommend this title for anyone who wants to understand how real economics works worldwide.

My only complaint is with the narrator. This would be 10x more enjoyable to listen to if Thomas Sowell read it.

Not a textbook, but a great one.

Narrator is fine. I require my kids to read this. I l am amused reviewer,s, often white, talking about how this isn't for those who have "inequalities" and only for "neocons" and why he's only expected in conservative think-tanks Lol. Clearly they don't know the author is a black former Democrat Marxist who grew up poor in Harlem after being born in the South yet graduated magna cum laude from Harvard and has taught at Cornell, UCLA and Stanford. Yes, tell the author all about what he doesn't know...

If only...

If only everyone could listen to this audiobook and understand what eonomics is and how it works. As Sowell says in his book, (paraphrasing)... Every single penny that charitable instituions and non-profits receive is a direct result, and benefit, of capitalism and our market system economy.

Sowell makes the case that the U.S. market economy is the most successful economic system that has ever existed and has brought the highest standard of living to U.S. citizens and a great portion of the world's population.

Where was this information when I was in school?

I wish this guy were in charge of our economy

This is a must read for anyone who would like to know more about basic economics.

Econ 101 worthy of a President

Set aside Samuelson, Friedman, Hayek, Keynes, Smith, and read this book! Sowell combines the best of all these experts, explaining economics in clear prose, using appropriate historical examples, and his profound knowledge in the field. The book is so good, I recommended President Obama and his staff read it to understand how appropriate economic theory and lessons in historical fact, properly applied, can change the world and make it a better place. Perhaps some in Congress might eventually read it too -- but I'm not holding my breath...

This book is not a single resource for understanding economics

Economics is a very difficult subject to grasp. It would take many sources to understand all of the concepts and complications. I expected this book to be easier to understand for someone like me who knows very little about the subject. However at times I found the subjects to be difficult to understand. The authors knowledge and vocabulary is advanced in the subject. Anyone seeking a thorough understanding should seek additional references. This is not a one stop book for understanding such a complex topic.

The best economics book

This is by a wide margin the best economics text I've ever encountered.

Economics books tend to fall into two main camps: the purely theoretical textbook, and the politically-motivated screed. The former is better, but is often a bit dry -- people outside of academia really care how abstract theories affect them. Sowell does a great job in both presenting the academically rigorous definitions and concepts, but also tying them to modern politics and current events.

There are a few places where he's a little overly right-wing; economics is about how to efficiently distribute resources, not always how to "fairly" distribute resources, and most economists are careful to note when an efficient policy might not be the socially optimal one. However, overall, Sowell is pretty clear about the effects of various policies.

The one thing I disliked was that it's a little basic, but for 95% of readers with no experience with academic economics, this is at the perfect level. If I had the text book vs. audio book, it would have been a lot easier to skip around.

could have been shorter

Though the things the book discusses are interesting, I feel the contents of the book could have been covered in 1/3 of the time. The authors keeps saying the same thing in several different ways... Probably an abridged version might have been better... but I still dont regret listening to it as it made the fundamentals of economics -- atleast the free market economics clear.

Required Reading for Senator McCain

A long-time fan of Dr. Sowell's articles, I greatly enjoyed the way he presents economics principles in such a practical and understandable way. Subjects like commodities markets and the federal reserve that seemed beyond the realm of understanding for mere mortals become almost simple to grasp as the basic principles are presented in a logical and uncomplicated fashion. Wish it was required reading for more public officials, espcially senators running for president who confess not knowing much about the economy.