Basic Economics (Hardcover)

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Description


The bestselling citizen's guide to economics

Basic 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.

About the Author


Thomas Sowell is a senior fellow at the Hoover Institution, Stanford University. He is the author of dozens of books including Charter Schools and Their Enemies, winner of the 2021 Hayek Book Prize. He is the recipient of numerous other awards, including the National Humanities Medal, presented by the President of the United States in 2003.
 

Praise For…


“Clear and concise… Among economists of the past thirty years, Thomas Sowell stands very proud indeed.”—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

Basic Economics is a healthy main course disguised as a rich dessert…Thomas Sowell’s smooth writing, irresistible logic, deep knowledge, and flawless economics make each page an explanatory treat to experts and novices alike.”
 —Thomas Hazlett, Professor of Law & Economics and Director, Information Economy Project, George Mason University

“Badly needed…Anyone who has been subjected to biased and dreary economics textbooks should read Basic Economics as a bracing corrective.”—Claremont Review of Books

Basic Economics reveals in every chapter why Thomas Sowell is one of America’s greatest thinkers. It is must-reading for anyone who wants the truth about how the laws of economics govern so many of the events in our daily lives.”—Arthur C. Brooks, President, American Enterprise Institute and author of The Battle: How the Fight Between Free Enterprise and Big Government Will Shape America’s Future

Basic Economics demonstrates Thomas Sowell’s ability to make economics understandable to a person who hasn’t set foot in an economics class. It’s a book rich with explanations and examples of everyday economics issues.”—Walter E. Williams, John M. Olin Distinguished Professor Economics, George Mason University

“The unyielding truths of economics befuddle social engineers of all stripes. Thomas Sowell, in exemplary fashion, strips the mystery from those truths, making them intuitive—even obvious.”—David Boaz, Executive Vice President, Cato Institute and author of Libertarianism: A Primer

“[Basic Economics, 4th Edition] covers the whole range of economic concerns…It eliminates the usual graphs and equations, presenting readable text instead that any reader might find convincing.”—Book News, Inc.

“Sowell’s volume [Basic Economics, 4th Edition] does a fantastic job in cultivating the reader’s ‘economic imagination’…[Sowell] does a masterful job in helping to fill in the process of economic adjustment that blackboard equilibrium analysis often leaves out.”—Choice

“Thomas Sowell's classic provides an engaging — and at times entertaining — crash course through economics and its application to public policy and personal finance…Sowell helps readers understand how economics applies to everyday life. It isn’t about revenue, profits, stocks and bonds, as much as it is about making choices…His language is eloquent, as well as accessible…Basic Economics is a useful guide for someone who wants to know more about how the business world operates and also how to interpret public policy proposals.”
 —Deseret Morning News

“It [Basic Economics, 4th Edition] is also one of the most — if not the most — lucid, comprehensive and eminently readable overviews of economics fundamentals you are ever likely to encounter.”—Redstate (blog)

“A valuable book…Basic Economics is a comprehensive, yet understandable explanation of how economics works…Sowell presents economics in prose that is easily understood and engaging to read…Basic Economics is one of those books anyone wishing to be an informed citizen should read — and it is interesting enough to make enjoyable reading.”
 —The Daily News, Galveston County Texas
Product Details
ISBN: 9780465060733
ISBN-10: 0465060730
Publisher: Basic Books
Publication Date: December 2nd, 2014
Pages: 704
Language: English

How to read more

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How To Read More

If you love reading, but for some reason you read less and less, know that everything is fine. It happens.
Our lives today have so many things that distract us - how can we not put books away when all these movies, TV shows, YouTube videos, social networks and endless surfing in online stores are around ...
Yes, it's really hard to resist, but you certainly can!

In this article, we want to share with you some tips to read more often and more successfully.
These are some notes and some practices that we have collected for our SUNDOG BOOKS readers club.
And maybe it will bring more books into your life!

Why do we want/need to read more?

To start reading more, you have to understand why you need it.
And you will be surprised, but your goals can be quite varied:

- for work
If you read a lot on duty, then you definitely need to speed up the process. The logic here is simple: read faster → work faster → more time for books for yourself.

- for education
you need this for your educational career or sometimes you just want to read to learn. And, with all the new alternative ways to gain knowledge (podcasts, online courses and videos), the book still does an excellent job of this task too.

- for self-development
all exercises for increasing speed, one way or another, improve cognition and memory.

- for fun
because good books always = fun!

Book lovers have an additional special goal for reading more often. If you love literature, you will understand what we mean: you want to catch everything - to follow modern literature, and not forget about the classics, look into non-fiction and children's publications. And there’s so much you want to reread! The goals are ambitious, but attainable if you read a lot.

 

And so - How to read more:
We will tell you about the methods that we use ourselves. Perhaps some will suit you as well.

 

15 minutes a day

You've probably already heard this rule: if you want to start a healthy habit, devote 15 minutes a day to it. Once upon a time, we all read irregularly, in jumps and starts. Sometimes we cannot open a book we have begun weeks ago. Therefore, you should decide to create a rule: devote at least 15 minutes a day to reading. Try reading before bed, or maybe during lunchtime, or even when you are having your morning coffee.

You will see progress immediately. You will notice that almost always your 15 minutes will grow into half an hour or more. But the most remarkable thing is that in three weeks your hands themselves will be looking for a book.

 

50 First Pages
This method advises - If the book hasn't hooked you from the first 50 pages, put it aside! Life is too short to read uninteresting books.

It is necessary to change the approach to books. At first it will be hard for you to stop and put the book down. Even if we put the book away, it will seem to reproach us from the shelf, mocking us as quitters. But in the end we should come to one simple thought: if it doesn’t hook your attention, you should not force yourself to read it.

***Fifty pages is not a bad test. Not the most objective, but definitely effective. It helps to determine whether it interests you or not, and whether to spend time on things that do not excite.

 

Reader's Diary

This should be used to improve the quality of reading - to make it more conscious. For starters, it can be a simple notebook with headings:

  • Author
  • Year of publication
  • Main characters
  • Scene
  • Plot
  • Theme
  • Quotes

And, yes, a reader's diary is not a thing about quantity, but about quality. But, it can also motivate. When you open your diary and start looking at quotes (especially quotes), you immediately really want to read.

 

Maybe a Book Bet?
Several people can participate. Members of the betting group can come from friends, family, and also your colleagues. And of course you can set your own rules for participation, but we'll give you a simple example:

Everyone in the group should read and review a book over the course of a month with weekly updates. Anyone who does not finish a review buys the book for all other participants for the next month.

 

Speed Reading

Another effective way to increase the amount you read is speed reading. The logic here is simple - the faster you read, the more books you can enjoy.

*There are many online courses on speed reading, and you can also study on your own using instructional books. But, it is worth noting that this is a serious learning process that will require some effort on your part.

 

Outcome

Reading every day is quite attainable, the main thing is to try to make it a habit.
Sometimes, instead of heading for Facebook, try opening a book and soon you won’t even remember why you needed to wander around social media.
And also - don't forget about audiobooks. They are a cool way to take the load off your eyes sometimes and just immerse yourself in the story. Some books are really strong in voice acting.

 
 
 

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