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Basic Economics 3rd Ed: A Common Sense Guide to the Economy (Hardcover)

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Key Phrases: greater physical scarcity, myths about markets, incremental substitution, United States, Basic Economics, Third World (more...)
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Editorial Reviews

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"Clear and concise... Among economists of the past 30 years, (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"

Product Description

This completely revised and updated third edition of Thomas Sowell's instrumental work includes a new chapter on government finance. 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.
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Product Details

  • Hardcover: 640 pages
  • Publisher: Basic Books; 3 edition (April 2, 2007)
  • Language: English
  • ISBN-10: 0465002609
  • ISBN-13: 978-0465002603
  • Product Dimensions: 9.4 x 6.2 x 1.8 inches
  • Shipping Weight: 1.8 pounds (View shipping rates and policies)
  • Average Customer Review: 4.4 out of 5 stars  See all reviews (81 customer reviews)
  • Amazon.com Sales Rank: #2,954 in Books (See Bestsellers in Books)

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    #58 in  Books > Business & Investing > Popular Economics
    #72 in  Books > Business & Investing > Economics
    #99 in  Books > Professional & Technical > Accounting & Finance

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Thomas Sowell
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Front Cover | Front Flap | Table of Contents | First Pages | Index | Back Flap | Back Cover | Surprise Me!
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Inside This Book (learn more)
Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
greater physical scarcity, myths about markets, incremental substitution, systemic causation, job security laws, international trade restrictions, rent control laws, widget industry
Key Phrases - Capitalized Phrases (CAPs): (learn more)
United States, Basic Economics, Third World, Soviet Union, The Economist, New York, West Africa, Montgomery Ward, European Union, General Motors, San Francisco, The Role of Profits-and Losses, Controlled Labor Markets, The Role of Prices, Government Functions, World War, Government Finance, Adam Smith, International Transfers of Wealth, Gross Domestic Product, Ivory Coast, Wall Street, Western Europe, Hong Kong, Great Depression
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Basic Economics 3rd Ed: A Common Sense Guide to the Economy
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Basic Economics 3rd Ed: A Common Sense Guide to the Economy 4.4 out of 5 stars (81)
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Intellectuals and Society
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Intellectuals and Society 4.6 out of 5 stars (16)
$19.77
Applied Economics: Thinking Beyond Stage One
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Applied Economics: Thinking Beyond Stage One 4.5 out of 5 stars (24)
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A Conflict of Visions: Ideological Origins of Political Struggles
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A Conflict of Visions: Ideological Origins of Political Struggles 4.7 out of 5 stars (65)
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4.4 out of 5 stars (81 customer reviews)
 
 
 
 
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115 of 126 people found the following review helpful:
5.0 out of 5 stars The one book to read for a good understanding of economics, June 11, 2007
By J. Combs (Centreville, VA USA) - See all my reviews
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This is simply the best book on understanding rudimentary economics available. This book takes a sophisticated subject and makes it very clear and understandable. While not as detailed as a textbook on the subject would be, it gets across the main theories of economics with real examples that can be understood and related to by almost anyone. This is simply the best and most readable source available to get a basic understanding of economic principles.
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69 of 77 people found the following review helpful:
5.0 out of 5 stars Fascinating inquiry into a seemingly benign subject, June 7, 2007
By oribiasi (Cleveland, OH USA) - See all my reviews
When one thinks of economics, one is typically confronted with the kind of malaise that Jimmy Carter once spoke of. However, Sowell's book is filled with concrete examples of how to apply some basic and interesting principles of economics in daily life, and he explains why these principles are so fundamental to our lives. I think all high-school graduates with any sense should read this before signing up for credit cards or getting a job, and certainly any college student looking for work as well. A fantastic read, which is certainly difficult to do when one is speaking about the economy.
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46 of 50 people found the following review helpful:
5.0 out of 5 stars A "must read"...., August 23, 2007
By DIY_Man "Guru" (Charlotte, NC USA) - See all my reviews
Everyone without a degree in Economics should read this book. This is a very easy and practical way to understand basic economic principles. Sowell is a master at making seemingly complex concepts into something very understandable by removing all the unecessary jargon and replacing it with real life examples we can all understand. I'e read this book twice. The second reading two years later than the first. I got as much out of it the second time as I did the first. I'll share this book around the family, but will definately be getting it back again.
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Most Recent Customer Reviews

5.0 out of 5 stars A Good Book for Explaining a Complicated Subject
The premise is of the book is that there are a limited number of resource and economics explains how those resources are allocated in a economy. Read more
Published 2 days ago by Shellback

5.0 out of 5 stars Complicated Economics made understandable
Thomas Sowell is a master at taking complicated subject matter and making it easy to understand. He uses real situations, telling you what happened and why it succeeded or... Read more
Published 1 month ago by Prebdog

5.0 out of 5 stars Excellent book! All voters and politicians need to read this!
We need all voters to read this book before casting their vote. I wish our politicians also read this book! Read more
Published 1 month ago by D. Sweeley

5.0 out of 5 stars basic economics thomas sowell
Basic Economics by Thomas Sowell is an excellent book that provides anyone interested in economics a wonderful and practical understanding of the subject. Read more
Published 1 month ago by Barbara K. Lancara

1.0 out of 5 stars Very one-sided, single-minded
As a few others have noted, Sowell's Basic Economics would be better called "Basic Conservative Economic Dogma". Fine. Read more
Published 1 month ago by H. Sansom

5.0 out of 5 stars Worth it!! Read it!
Best book on economics I have ever read. Thoughtful, intelligent, and relevant. His examples are wonderful (and really brush up my political history). Read more
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5.0 out of 5 stars A Book Every Liberal Should Read
I'm left of center with libertarian sympathies. I voted for Obama. I have suggested readings for conservatives (Collapse by Jared Diamond and Naked Economics by Charles Whelan). Read more
Published 3 months ago by Joe J. Kern

5.0 out of 5 stars Every Citizen Should Read this Book
Politicians bank on the average citizen being ignorant of economics and economic consequences. Everyone who votes should read this book so they aren't bamboozled by smooth... Read more
Published 4 months ago by jayemaye

1.0 out of 5 stars Still waiting to get it
I enjoy reading Thomas Sowell. However, I have yet to receive this item, Amazon.com. So please do not send a customer review request to me while I am still waiting (two months... Read more
Published 5 months ago by D. Coe

5.0 out of 5 stars Basic Economics For The Masses
If you're looking for an economics book that has price floor/ceiling charts, present discounted value (PDV) formulas (or any formulas), or a textbook explanation of price... Read more
Published 5 months ago by VulcansHammer

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Basic Economics: A Common Sense Guide to the Economy

This is a: book economics basic text pro-free market pro-libertarian pro-small government

Thomas Sowell manages to put across the difficult and oft-mangled economic basics in language that is straightforward to the point of plain, without maths and graphs (and I would welcome a ’Basic Econs’ 4th ed. if it had some equations and graphs).

Edition: 3;  Publisher: Perseus Books Group;  Number Of Pages: 627; ...

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Created on Jun 27, 2007, last edited on Jun 27, 2007.

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