Basic economics : a common sense guide to the economy / Thomas Sowell.

Format:

Book

Author/Creator:

Sowell, Thomas, 1930-

Language:

English

Subjects (All):

Economics.

Physical Description:

viii, 627 pages ; 25 cm

Edition:

Third edition.

Place of Publication:

New York : Basic Books, [2007]

Summary:

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.

Contents:

What is economics?

pt. I. Prices and markets. The role of prices ; Price controls ; An overview

pt. II. Industry and commerce. The rise and fall of businesses ; The role of profits

and losses ; Big business and government ; An overview

pt. III. Work and pay. Productivity and pay ; Controlled labor markets ; An overview

pt. IV. Time and risk. Investment and speculation ; Risks and insurance ; An overview

pt. V. The national economy. National output ; Money and the banking system ; Government functions; Government finance; An overview

pt. VI. The international economy. International trade ; International transfers of wealth ; An overview

pt. VII. Special economic issues. Myths about markets; "Non-economic" values ; Parting thoughts.

Notes:

Includes bibliographical references (pages 569-613) and index.

ISBN:

9780465002603

0465002609

OCLC:

76897806