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Basic Economics, Fourth Edition: A Common Sense Guide to the Economy Audible – Unabridged

4.7 out of 5 stars 225 customer reviews

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Product Details

  • Audible Audio Edition
  • Listening Length: 23 hours and 51 minutes
  • Program Type: Audiobook
  • Version: Unabridged
  • Publisher: Blackstone Audio, Inc.
  • Audible.com Release Date: December 28, 2010
  • Language: English
  • ASIN: B004HFK0YU
  • Amazon Best Sellers Rank:

Customer Reviews

Top Customer Reviews

Format: Hardcover
Basic Economics has become an institution in itself. With this, its fourth edition, the publisher offers the same great essential survey of economics with more examples and new material in the form of a chapter on the history of economics. If there was anything lacking in the first three editions, it was this general history of the study. The history is provocative and rings of new theories like that in Juggernaut: Why the System Crushes the Only People Who Can Save It.

In Basic, Sowell mainly addresses the various principles of economics through the problems and concerns of modern society such as the effect of price controls, the role of profits and losses, and international trade.

Altogether, Sowell covers some very complex and relevant topics. The theme that becomes clear upon reading this book, however, is that all of these issues have at their root very basic principles based on supply and demand, and the inherent risks of "unintended consequences" that stem from government intervention. As he states in the introduction, basic economics apply in many different kinds of economies--capitalist, socialist, feudal, and so on.

The upgrade over the 3rd edition is definitely worth the extra cost (this coming from someone who has read both). For anyone debating whether to add Thomas Sowell to their shelves, this would be a great start.
14 Comments 198 of 205 people found this helpful. Was this review helpful to you? Yes No Sending feedback...
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Format: Hardcover
There's a story Milton Friedman use to tell when he was the Nobel Prize winning Professor of Economics at the University of Chicago. He would say that an economist is a man that knows a thousand ways to make love, but has never been with a woman. The truth of this statement is embodied in just about every concept you will study in economics, and the people responsible for those concepts. It is as though they go out of their way to be as confusing as possible. They use language that only a fellow economist could hope to understand but probably doesn't.

This book by noted scholar Thomas Sowell seeks to DEMYSTIFY ECONOMICS, and it gets the job done very well. If you ever wanted to understand economics but could not get the job done, guess what? You now have your chance. This book is clear, readable, to the point, deep, logical, and gripping. You will never read the weekly jobs report or economic output release from the government in the same way again, what's more, you will understand it. We have all been involved with jargon. Some esoteric thinker lays a paragraph on you in such a way that you don't understand a word he is saying. It's all intentional. Here's your chance to get even. You read this book; it will be you laying out the economic concepts for your friends. Here's just a taste of what you will learn.

There are SEVEN distinct sections to the book. All of them will hold your attention. They are:

I Prices and Markets

II Industry and Commerce

III Work and Pay

IV Time and Risk

V The National Economy

VI The International Economy

VII Special Economic Issues

The author chooses his words in such a way as to make the topic highly readable.
Read more ›
6 Comments 205 of 214 people found this helpful. Was this review helpful to you? Yes No Sending feedback...
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Format: Hardcover Verified Purchase
I took four semesters of economics in college. The textbooks were tedious and really not that informative. Suffice it to say that I learned far more about economics reading this book than I ever learned in college. And I had a lot more fun doing it, too.

When you get right down to it, economics is nothing more than common sense. But the catch is that for any issue relating to economics, you actually have to think about it a little, rather than just impulsively going with the first thing that comes to mind. Most of us have had our brains befuddled with lots of false and misleading information that has been presented to us over the years by politicians, reporters and teachers. That makes it difficult to simply sit back and think clearly and logically about economic issues.

This is just the book to fix all that. It covers just about every aspect of economics imaginable. And all of it in clear, straight-forward language with lots of examples and no jargon. Sowell doesn't try to impress the reader with how smart he is, but is more Socratic - as in "you really knew this stuff all along, if only you'd thought about it".

I cannot recommend this book enough. Economic illiteracy dominates officialdom from the President on down. It is probably hopeless to get people who already think they know everything read "Basic Economics". But for anyone reading this review there is hope. You will never regret it.
Comment 19 of 20 people found this helpful. Was this review helpful to you? Yes No Sending feedback...
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Format: Hardcover
Thomas Sowell is to Economics as is William Shakespeare to the English language. He connects; he makes it clear and beautiful and the truth rings, cannot be muted.
Why the world is not falling at the feet of Dr. Sowell, (at least the economic world), is beyond my capabilities of conjecture. Oh! I forgot. He seems to be black of skin, and his economic views are greatly conservative, so that pretty much closes the door.
OH! How I wish that this GREAT THINKER and teacher of economics and politics was known and read by everyone who is forced to go to government schools. I have heard that Dr. Sowell is a self-described curmudgeon who does not take kindly to social or political bovine fertilizer, or other flim-flam, therefore it would be pretty much impossible for him to do so, but I always prayed that Dr. Sowell would be our second "black" president, after William Jefferson Clinton.
For my money, and yours too, any book written by Dr.Sowell should be treasured, read to your children and kept in your heart.
5 Comments 90 of 110 people found this helpful. Was this review helpful to you? Yes No Sending feedback...
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