Basic Economics 4th Edition: A Common Sense Guide to the Economy (Hardcover)
The fourth edition of "Basic Economics" is both expanded and updated. A chapter on the history of economics itself has been added, and the implications of that history have been examined. A new section on the special role of corporations in the economy has been added to the chapter on government and big business, among other additions throughout the book.
"Basic Economics," which has now been translated into six languages, has grown so much that a large amount of material in the back of the book in previous editions has now been put online instead so the book itself and its price will not have to expand. The central idea of "Basic Economics," however, remains the same: that 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.
“Clear and concise…among economists of the past thirty 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.” – The Washington Times
“’Basic Economics’ is a healthy main course disguised as a rich dessert. The expanded Fourth Edition now weighs in at well over 600 pages. Readers will celebrate the girth. Tom 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 and economics and director of the 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’ demonstrates 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 of the American Enterprise Institute and author of "The Battle: How the Fight Between Free Enterprise and Big Government Will Shape America’s Future"
“Alchian said the true test of whether one understands his subject is whether he can explain it to someone who doesn’t know a darn thing about it. Mr. Sowell wasn’t Alchian’s student, but 'Basic Economics' demonstrates his 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 Williams, George Mason University
“The unyielding truths of economics befuddle social engineers of all stripes. Sowell, in exemplary fashion, strips the mystery from those truths, making them intuitive—even obvious.” – David Boaz, executive vice president of the Cato Institute and author of "Libertarianism: A Primer"
About the Author
Economics professor and author Dr. Thomas Sowell is a senior fellow at the Hoover Institute in Stanford, Calif., and a regular columnist for WND. Born in North Carolina and raised in Harlem, Sowell did not complete high school with his class but eventually joined the Marine Corps and became a photographer in the Korean War. After leaving the service, Sowell entered Harvard University, worked a part-time job as a photographer and studied the science that would become his passion and profession: economics. After graduating magna cum laude in 1958, he went on to receive his master's in economics from Columbia University in1959 and a doctorate in economics from the University of Chicago in1968.
Sowell has taught at Cornell University, Rutgers University, Amherst College, Brandeis University and the University of California at Los Angeles. Noted for his ability to explain complex concepts succinctly, he began contributing columns to newspapers in the 1970s and published a wide variety of writing on various subjects. His books include “Basic Economics: A Common Sense Guide to the Economy,” “Applied Economics: Thinking Beyond Stage One,” “Dismantling America,” “Economic Facts and Fallacies” and “The Housing Boom and Bust.” In 1990, he won the prestigious Francis Boyer Award presented by the American Enterprise Institute.
- Reading level: Ages 16 and up
- Hardcover: 786 pages
- Publisher: Basic Books; Fourth Edition (December 28, 2010)
- Language: English
- ISBN-10: 0465022529
- ISBN-13: 978-0465022526
- Product Dimensions: 9.4 x 6.5 x 2.2 inches
- Shipping Weight: 2.2 pounds
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