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Summary: The best and clearest explanation of basic economics
Review: This book is a masterpiece. Dr. Sowell writes so clearly and compellingly that I actually feel gratitude toward him for this contribution. I have bought extra copies and have give them to some friends who have also enjoyed this book.When you take time to read this book you will see clearly the forces that shape the way humans actually behave in the use and allocation of resources. No matter the political system, human intent or fantasy, these realities cannot be ignored. Power shortages, under and un-employment, crops rotting in the field are all expressions of human mis-understanding and mis-applying the "laws" described so wonderfully in this great book. My advice is get some friends together, buy several copies and have a discussion group. You will all benefit from Dr. Sowell and from teaching each other these basic but critical principles.
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Summary: Economic fallacies BE GONE! Hallelujah! I can see!
Review: Thomas Sowell cuts through the poop that we Americans have been eating for far too long! THRILL!! As he exposes the extremely faulty logic behind government regulation! GASP!!! As he explains concepts such as economies of scale in a way understandible to Mr. Joe Average. I know what your thinking..."It's a book about ECONOMICS man! I'll die of boredom reading that thing!" This book will blow your brains out(metephorically of course!). I thought I knew a lot about economics. I thought I understood the concepts of supply and demand. I also thought that government regulations could improve the economy! Boy was I WRONG! Get this book! You'll never look at a grocery store the same way again! You'll be a more educated voter! Impress your friends! Annoy a communist! Hallelujah! I have seen the light!!
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Summary: Demystifies Economics
Review: I admit it. Before reading Dr. Sowell's book I had no real idea of what economics entail. This book presents a subject that frightens most people and explains it in plain English.
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Summary: Economics in Plain English
Review: The best book I've ever read, concerning Economics. One of the best non-fiction books I've ever read. Mr Sowell is very articulate and does not preach/teach. He explains Economics with verbal examples that are easily understood but not simplistic. If you read this book, you will learn something about Economics, while actually enjoying the experience.
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Summary: Best introduction to economics
Review: Thomas Sowell may be the most widely read economist in the U.S. His books and essays are invariably well written and free of jargon, and clearly explain economic principles that other writers only complicate or confuse. This book is a tour of the key elements of economics, written for a general audience, without equations or math. The book discusses many things that seem counterintuitive until you read Sowell's explanation. He debunks many theories that are widely used by public figures and reporters seeking to make a political point rather than state possibly unpopular truths. Here are a few highlights: 1. Pages 135-136: Very few people stay in a particular income bracket all their lives. In fact more than half of the households in the bottom 20% of the income curve in 1975 moved into the top 20% during the following two decades. And, there are only 39 million persons in the households in the bottom 20% but 64 million people in the households in the top 20%. 2. Pages 244-246: An excellent discussion of the fact that the actual economic incentives created by laws often deviate from the intended goals of the laws. 3. Pages 271-278: A lucid discussion of the difference between absolute economic advantage of one country over another versus comparative advantage. The latter is why international trade always is beneficial, and restrictions on trade always harm the interests of the people of the country doing restricting. For example, when the U.S. imposed quotas on imports of steel in the 1980s, this did not help the domestic steel industry increase its sales. Rather, manufacturers of products that used significant amounts of steel moved their manufacturing out of the U.S. to where the price of steel was lower. 4. Pages 290-293: How the colonies of the European countries in the 19th and early 20th centuries were bad for the colonial powers: almost without exception, the British, Germans, Belgians, ... put far more money into their colonies than they got out. The book is easy to read and stimulates thinking about economic issues. I recommend it without reservation.
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Summary: Thomas Sowell, superb as always
Review: In his usual way, Thomas Sowell clearly explains basic economics to the layman. The book has no formulae or graphs, being aimed at a qualitative understanding of the issues, but it has extensive examples. The only reason I gave this book 4 stars instead of 5 is that the proofreading is pathetic. There are words omitted or substituted ("effect" for "affect"). In a particularly egregious case, he describes a difference as "to percent". What is that? A typo for "two", for "10", or perhaps for "50"? In another case, the reference for a book is entirely omitted -- there's just a space followed by a period. Dr. Sowell deserves a more careful publisher.
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Summary: The consumate peoples economist strikes again
Review: Thomas Sowell continues to show his mastery of the subject of economics. This book is another in a long line of books by Sowell that attempt to delineate between the conservative and liberal-progressive political theories of economics. He covers the basics and not just from the standpoint of business and investment. He brackets the why's and wherefore's of price controls and subsidies, both pertinent in light of today's energy crisis in California. In the last sections of the book he try's to simplify Macro and international economics, and with more than a modicum of success. He poignantly suggests that politicians, judges, attorneys and soft science intellectuals steep themselves in the rudiments of basic economic theory; the better to avoid their succumbing to the syndrome he outlines in his book "Vision of the Anointed". This book is a must for all citizens, college graduates included. This goes double for graduate students in the social sciences. Unfortunately, the reason the message in the book will not be taken to heart by those most in need is that they gain their sense of self from feeling morally superior to those who they see as just striving to get rich. To ingest Sowell's message would require agonizing self-reappraisal and that's not in the cards for them. Too bad for that as their changed worldview could help change the political debate and result in greater living standards for all citizens of the world.
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Summary: Good but a bit verbose
Review: I majored in economics a long time ago and picked up this book to refresh my memory on some principles of economic theory. It's good, but it could be great in the hands of a competent copy editor. Some concepts and examples are repeated in multiple chapters, which is fine for the reader who is only perusing selected chapters, but demeaning to anyone who reads it cover to cover. I'm a fan of Thomas Sowell's columns, but he tends to ramble in this book, and there are some inexcusable typos and grammatical errors. That said, it's a decent overview of economics suitable for all ages. I'd recommend it to my own friends and relatives who are looking for a layman's guide to economics that relies on real-world examples and anecdotes instead of intimidating graphs and equations. A good starting point for anyone who wants to understand how economic theory relates to business, investments, and politics.
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Summary: Very Nice Introduction
Review: Despite what some readers might infer from its title, this book does not introduce readers to modern economic THEORY so much as it shows how one of the finest economic minds of the last 50 years analyzes reality. It's a terrific read. Sowell's writing is crisp; his analytical powers are sharp. I very much enjoyed reading Sowell's keen economic analyses of different phenomena. BASIC ECONOMICS is, really, a more-accessible version of Sowell's magnificent KNOWLEDGE AND DECISIONS. The book shows signs of being rushed into print -- several misspellings and one or two incomplete references in the endnotes. But these minor annoyances don't at all detract from the enjoyment of this fine work.
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Summary: ECONOMICS ESSENTIALIZED INTO 1 SENTENCE
Review: SOWELL SHOWS HOW ECONOMICS IS THE STUDY OF HOW FREE INDIVIDUALS ALLOCATE SCARCE RESOURCES WITH ALTERNATE USES. AND WITH EXAMPLES, HE SHOWS THE MISERY THAT RESULTS WHEN IT'S NOT FREE INDIVIDUALS DOING THE ALLOCATING.
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