Basic Economics : A Common Sense Guide to the Economy

Thomas Sowell

Economics

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The bestselling citizen's guide to economicsBasic Economics is a citizen's guide to economics, written for those who want to understand how the economy works but have no interest in jargon or equations. Bestselling economist Thomas Sowell explains the general principles underlying different economic systems: 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. This fifth edition includes a new chapter explaining the reasons for large differences of wealth and income between nations. Drawing on lively examples from around the world and from centuries of history, Sowell explains basic economic principles for the general public in plain English.

Thomas Sowell

Thomas Sowell born June 30, 1930) is an American author, economist, political commentator, social theorist, and senior fellow at the Hoover Institution of Stanford University. Sowell was born in Gastonia, North Carolina, to a poor family. After his family migrated to the North, he grew up in Harlem, New York. Due to financial issues and deteriorated home conditions, he dropped out of Stuyvesant High School and served in the Marine Corps during the Korean War. Upon returning to the United States, Sowell took night classes at Howard University before attending Harvard University, graduating magna cum laude in 1958.[3] He earned his master's degree in economics from Columbia University the next year and received a doctorate in economics from the University of Chicago in 1968.

Title	Basic Economics : A Common Sense Guide to the Economy
Author	Thomas Sowell
Publisher	Basic Books
Number of Pages	688
Category	Economics
First Published	JAN 2015