Basic Economics is a citizen’s guide to economics-for those who want to understand how the economy works but have no interest in jargon or equations. Sowell reveals the general principles behind any kind of economy-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.
About the Author
Thomas Sowell has taught economics at a number of colleges and universities, including Cornell, University of California Los Angeles, and Amherst. He has published both scholarly and popular articles and books on economics, and is currently a scholar in residence at the Hoover Institution, Stanford University.
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