Share <Embed>

Buy New

$33.40

List Price: $39.95
Save: $6.55 (16%)

$33.40 + $28.98 shipping

Only 1 left in stock - order soon.

Ships from and sold by AceBook.

Turn on 1-Click ordering for this browser

This item ships to France.

Deliver to France

Buy Used

$18.88

FREE Shipping on orders over $25.

Deliver to France

Used: Acceptable | Details

Sold by FlippingPages

Fulfilled by Amazon

Turn on 1-Click ordering for this browser

Added to

Unable to add item to List. Please try again.

Sell yours for a Gift Card
We'll buy it for up to $2.23
Learn More
Trade in now

Other Sellers on Amazon

Add to Cart

$33.95
+ $24.95 shipping

Sold by: TopValuePro

Add to Cart

$33.99

Sold by: West Coast Bookseller

Add to Cart

$33.75

Sold by: Pink-Panther

Have one to sell? Sell on Amazon

Flip to back Flip to front

Listen Playing... Paused You're listening to a sample of the Audible audio edition.
Learn more

See all 2 images

Basic Economics: A Common Sense Guide to the Economy Hardcover – April 3, 2007

by Thomas Sowell (Author)

670 customer reviews

See all 5 formats and editions Hide other formats and editions

Price

New from

Used from

Hardcover

"Please retry"

$33.40

$14.11

Paperback, Large Print

"Please retry"

—

$66.80

$31.95

Preloaded Digital Audio Player, Unabridged

"Please retry"

—

There is a newer edition of this item:

Basic Economics
$27.19
(670)
In Stock.

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.

Customers who bought this item also bought

Page 1 of 1 Start overPage 1 of 1

This shopping feature will continue to load items. In order to navigate out of this carousel please use your heading shortcut key to navigate to the next or previous heading.

Milton Friedman

330

Paperback
$11.96
Thomas Sowell

282

Paperback
$5.00
Ralph Ketcham

120

Mass Market Paperback
$7.95
Russell Roberts

95

Paperback
$16.52
Thomas Sowell

458

Paperback
$10.98
David Barton

218

Paperback
$12.95

Customers who viewed this item also viewed

Page 1 of 1 Start overPage 1 of 1

This shopping feature will continue to load items. In order to navigate out of this carousel please use your heading shortcut key to navigate to the next or previous heading.

Thomas Sowell

670

in Economic Theory
Hardcover
$27.19
Thomas Sowell

145

Hardcover
$28.97
Thomas Sowell

670

Hardcover
$39.33
Thomas Sowell

458

Paperback
$10.98
Thomas Sowell

282

Paperback
$5.00
Thomas Sowell

285

Paperback
$19.99

Editorial Reviews

Review

"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"

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.

Hardcover: 640 pages
Publisher: Basic Books; 3rd edition (April 3, 2007)
Language: English
ISBN-10: 0465002609
ISBN-13: 978-0465002603
Product Dimensions: 6.1 x 1.6 x 9.2 inches
Shipping Weight: 1.8 pounds (View shipping rates and policies)
Average Customer Review: 670 customer reviews
Amazon Best Sellers Rank: #439,304 in Books (See Top 100 in Books)
- #8217 in Books > Business & Money > Economics

Would you like to tell us about a lower price?
If you are a seller for this product, would you like to suggest updates through seller support?

Be the first video

Your name here

Customer reviews

Write a customer review

See all 670 customer reviews

Rated by customers interested in

Economics

4.6 out of 5 stars

Book Series

4.7 out of 5 stars

Is this feature helpful?

Thank you for your feedback.

Top customer reviews

There was a problem filtering reviews right now. Please try again later.

George Willikers

Proof You Shouldn't Judge a Book by its Cover

January 16, 2015

Format: HardcoverVerified Purchase

What sets Thomas Sowell apart from many economists and intellectuals is his ability to present complex ideas with both clarity and simplicity. As he himself once noted, "If academic writings were difficult because of the deep thoughts involved, that might be understandable, even if frustrating. Seldom is that the case, however. Jaw-breaking words often cover up very sloppy thinking." For Sowell, economics is no exception.

In Basic Economics, he reminds you that economics is the study of the use of scarce resources which have alternative uses. And with this fundamental truth in mind we see a master expositor at work. He derives many economic principles from this easily forgotten fact, offering you real-life examples along the way. This book was, of course, written for the layman. In fact, no prior knowledge of economics is needed before you read it. Yet the book is of such breadth and depth that economist Dr. Walter Williams says "it provides an understanding of some economic phenomena that might prove elusive to a Ph.D. economist."

As you read and become familiar with how Sowell thinks, you will yourself begin to think like an economist. You will learn to judge policies not by their proposed goals, but by the incentives they are likely to create, which may have the opposite effect of their intended goals. You will learn to think about not only a policy's immediate effects, but also its effects in the long run, and not only its effects to a specific group of people, but to everyone. In the process, many of your long-held cherished beliefs may be challenged.

Consider, for instance, minimum wage laws. Sowell explains why increasing the price an employer must pay his employees--though put into law for benevolent reasons--can have unintended bad effects, like an increase in unemployment. He also explains why, for similar reasons, rent control decreases the quality of apartment buildings, or why lowering the price of gas can cause a shortage.

This 5th edition of Basic Economics includes a new chapter on international disparities in wealth. An insightful chapter, Sowell explains why some countries enjoy luxury while others suffer poverty, pointing to such commonly overlooked factors as geography and culture. Another addition is that this book ends with a section of questions covering important economic issues. If you don't know the answer to a question, it tells you where in the book you can find it. This is especially helpful for someone forgetful like me, who must regularly return to refresh on economics. It's also helpful for quizzing yourself to see how well you understood the information.

To say that Sowell's books have boring covers and titles is an understatement. But they provide strong evidence for the claim that "you shouldn't judge a book by its cover." I recommend this book as a must-read to everyone, not just to aspiring economists. (I also highly recommend Henry Hazlitt's Economics in One Lesson.) However, I would be remiss if I did not include in this review any drawbacks, and there's a big one. Basic Economics will leave you more pessimistic for your country than before you opened it.

272 people found this helpful273 people found this helpful

Helpful

Comment

K. Wolf

A must read for literally everyone. Everyone. Everyone.

February 26, 2018

Format: HardcoverVerified Purchase

Many of the other 5 star reviews explain better in words than I could just how profoundly important, yet easy to read, this book is. My only contribution to these reviews is to say that I see this book as being like "Freakonomics for grown ups". It offers excellent insight into economic phenomenons with relatable examples, without simply scratching the surface of the implications of such, as Freakonomics does.

Basic Economics has mass market value without obvious mass market appeal. A must read for literally everyone. Everyone. Everyone.

16 people found this helpful17 people found this helpful

Helpful

Comment

Kidnem

One of the best books i've read

March 14, 2018

Format: HardcoverVerified Purchase

5 years ago I leaned towards leftism. As I took a more logical approach to life (getting to the actual root of things) and widened my perspective of economics (and life in general), I've leaned more towards libertarianism. This book was one of my biggest influences and changed many of my views on politics, economics, and approaching life in general. Thomas gets you to think about all sides of the equation and not just what the intellectuals or politicians want you to see (no matter the party). I felt smarter after reading this book since it has now been embedded in my head to question everything.

24 people found this helpful25 people found this helpful

Helpful

Comment

psychoinhell

It is more like drinking a fine wine or smoking an expensive cigar

January 27, 2016

Format: HardcoverVerified Purchase

This took me forever to read! It is not that it is difficult to read or understand. It is more like drinking a fine wine or smoking an expensive cigar. You intentionally take your time to enjoy the knowledge that is being imparted to you, to fully absorb it.
Say what you will about that comment, I have a MBA and many of the concepts he share or shot down, should have been obvious to me. Yet I ignored what should have been common sense to believe what is propaganda that is repeated constantly until we are start to believe that 2 + 2 = 5.
Well Dr Sowell screams to remind you that it is 4.
Must have for anyone that hasn't taken economics to the graduate level.

18 people found this helpful19 people found this helpful

Helpful

Comment

David Taylor

Ddemonstrates effective critical thinking to how economies work

August 26, 2017

Format: HardcoverVerified Purchase

Somehow or another, Thomas Sowell only recently came across my radar. And since, I've listened to countless of his speeches, talks, and interviews on YouTube. I decided to purchase this 5th ed. of Basic Economics and I have not been disappointed. He writes in a very readable and compelling style so that his presentation of economics is very interesting and applicable. I am learning many things about how the economy works. For instance, living in Florida under the annual danger of hurricanes where the Governor can step in to prevent "price gouging," I was particularly interested in Sowell's explanation of the benefits of "price gouging" in that it creates an incentive for sellers to rush "to the area where the hurricane is likely to strike, before the hurricane actually gets there" in order to make additional profit. While this seems heartless, it benefits the economy because much needed supplies are provided and sellers get to make a little extra money doing it. Insert "price gouging" controls and these additional resources never arrive. Remove these controls and, as Sowell says, "Skyrocketing local prices can overcome the reluctance to take on these local obstacles that entail additional costs. Moreover, each supplier has incentives to try to be the first to arrive on the scene, since that is when prices will be highest, before additional suppliers arrive and their competition drives prices back down." Sowell goes on to say "But if only the usual prices in normal times can be expected, there is less incentive to incur the extra costs of rushing things to an area where disaster is expected to strike." What Sowell admits, is that everyone is greedy - the buyer and seller alike - so go ahead and keep the scales of greed balanced rather than over-balance it to one side or the other because "people tend to do more for their own benefit than for the benefit of others." When price controls like this are in effect - tipping the scales of greed in the favor of the buyer - people are more likely to buy much more than they may need leaving very few supplies for others while sellers are disincentivized from supplying more because there is no reward in it for them. But if the market were permitted to set its own prices, it would force us greedy buyers to ration how much we buy thus leaving resources for others to buy, forcing everyone to ration on their own. This was an argument I'd never heard of before and would love see any data on how it has played out anywhere, assuming it has been permitted to.

I'm still plowing through the book though I've read several chapters but not in order. I certainly recommend this book because it demonstrates effective critical thinking to how economies work.

9 people found this helpful10 people found this helpful

Helpful

Comment

What other items do customers buy after viewing this item?

Hardcover

Thomas Sowell

670

$27.19
Hardcover

Thomas Sowell

145

$28.97
Paperback

Thomas Sowell

458

$10.98
Hardcover

Thomas Sowell

670

$39.33

Buy New

$33.40

Turn on 1-Click ordering for this browser

Buy Used

$18.88

Turn on 1-Click ordering for this browser

Other Sellers on Amazon

Basic Economics: A Common Sense Guide to the Economy Hardcover – April 3, 2007

There is a newer edition of this item:

Customers who bought this item also bought

Customers who viewed this item also viewed

Sponsored products related to this item (What's this?)

Editorial Reviews

Review

About the Author

Product details

Related Video Shorts (0)

Be the first video

Sponsored products related to this item (What's this?)

Customer reviews

Read reviews that mention

Top customer reviews

There was a problem filtering reviews right now. Please try again later.

Customer images

Most recent customer reviews

What other items do customers buy after viewing this item?

Buy New $33.40

Turn on 1-Click ordering for this browser

Buy Used $18.88

Turn on 1-Click ordering for this browser

Sorry, there was a problem.

Sorry, there was a problem.

Other Sellers on Amazon

Basic Economics: A Common Sense Guide to the Economy Hardcover – April 3, 2007

There is a newer edition of this item:

Customers who bought this item also bought

Customers who viewed this item also viewed

Sponsored products related to this item (What's this?)

Editorial Reviews

Review

About the Author

Product details

Related Video Shorts (0)

Be the first video

Sponsored products related to this item (What's this?)

Customer reviews

Read reviews that mention

Top customer reviews

There was a problem filtering reviews right now. Please try again later.

Customer images

Most recent customer reviews

What other items do customers buy after viewing this item?

Buy New

$33.40

Buy Used

$18.88