Basic Economics, Revised Edition,
by Thomas Sowell. The traditional approach to teaching
economics emphasizes the heavy use of charts, graphs, math and a host of
specific jargon. While this approach can prove to be useful for
students who go on to major in economics or business, most other
students learn very little about employing the powerful tools of
economic analysis to everyday life. This 2004 book, written by one of
the most prolific of economic authors, is intended to introduce the
reader to powerful and effective economic reasoning without using a
single graph or equation. Sowell focuses primarily on how scarce
resources require allocation within a society, and he shows how
effectively various economic systems work (in terms of meeting a
society's desires). He carefully examines the role of prices in
resource allocation within market economies, and he illustrates just how
effective prices are in organizing a productive economy. Although
Professor Sowell would have benefited from a better proofreader (the
occasional typos can be distracting), this book provides the lay person
with one of the clearest, most useful expositions of relevant economic
theory that exists. |

ISBN:
0465081452
Format: Hardcover, 496pp
Pub. Date: Dec 2003
Publisher: Basic Books
"Voters by the millions
want to know basic economics, not for passing tests but for grading
politicians, and for understanding how the world works...They have
waited a long time for this book, by one of the nation's best and most
trenchant minds."
Michael Novak |