Basic Economics

02 Dec 2014

by Thomas Sowell

An accessible, jargon-free resource outlines the principles behind each major type of economy including capitalist, socialist, and feudal, in terms of the incentives each creates.

Pages: 704

Publisher: Basic Books

Overall: 56% of the 25 mentions are positive, 36% are neutral and 8% are negative.

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25 mentions sorted by:
  • It also helps those with moderate money buy more property than they can afford in the free market; and thus hoard it. Then there is no housing for the truly poor because what should be low income housing has been hoarded. It becomes a first come first serve market. Same thing happened after rent control was used to help soldiers get homes. There was a massive national shortage even thought the physical supply never changed. Here is the book; I highly recommend the read.
    1 points in /r/Libertarian by IcecreamDave | 27 May 2017
  • Currently making my way through Thomas Sowell's work. Brilliant man; highly recommended!
    -3 points in /r/ChapoTrapHouse by chainlinks | 15 May 2017
  • Here you go!
    -1 points in /r/news by closeitagain | 11 May 2017
  • It would be way too difficult and there's a very good chance you wouldn't come close to finishing it. If you really have no background in economics whatsoever; the best introduction is Thomas Sowell's Basic Economics; assuming you don't want to buy an actual college textbook. It's a great combination of explaining the intuition of economic principles and illustrating them with numerous real world examples.
    2 points in /r/austrian by classicalecon | 08 May 2017
  • Det er godt at vi generelt er enige. Det var også derfor jeg gik lidt tilbageholdende til dig; fordi jeg kun følte at det var insinuationer; og ikke eksplicitte påstande. Det er også fuldstændig rigtigt; hvad du siger. En virksomhed bliver ikke nødvendigvis bedre bare fordi at man gør den privat; og ikke gør andet. Det allervigtigste element er konkurrencen. Det er ligemeget om en virksomhed er privat eller offentlig; hvis der er lige stor mangel på konkurrence.

    Hvad jeg så bare lader til at være lidt uenig med dig i er; hvor ofte private monopoler opstår. Vi er vel enige om; at man ikke er et monopol baseret kun på den simple observation af hvor meget af et givent marked man sælger til. Så hvorvidt man er et ægte monopol; har vel primært at gøre med hvor høj graden af adgangsbarrierer er og hvor meget konkurrencen er sænket i forhold til hvor den ville være under "reelle frie markedsvilkår" - selvom det jo naturligvis er en ting der er essentielt umulig at kvantificere.

    Private monopoler er yderst yderst sjældne; fordi de ikke selv kan kontrollere mængden af konkurrence i et frit marked. Det der næsten altid sker i monopoler og i monopollignende situationer; er at virksomhederne skaffer hjælp fra staten; så staten kan lave regler og reguleringer inden for et bestemt erhverv; så udbudet af konkurrenter kan kontrolleres.

    Jeg er desværre ikke interesseret i at gå meget mere i dybden hvad dette angår; men hvis man har lyst til at lære lidt om basal økonomi i sin fritid; så kan jeg bestemt anbefale Basic Economics af Thomas Sowell.
    1 points in /r/Denmark by LE_REDDIT_HIVEMIND | 27 Apr 2017

  • You parents sound incredibly ignorant and should consider reading a basic economics book. I recommend this.
    1 points in /r/investing by RIC_FLAIR-WOOO | 23 Mar 2017
  • The best book for you to start out with would probably be Thomas Sowell's classic; Basic Economics.

    Other users are surely right you'd be well served by a principles textbook (and the Cowen / Tabarrok book is probably the best; as another user suggest); but you might not be that interested in the subject yet. It's 1000 pages long and you don't need to know everything in it. Yet; if you try to pick and choose chapters; you probably won't find them that interesting.

    Sowells is under 600 pages and explains basic economic principles with clear logic and more empirical evidence than you'll find in a principles textbook. The caveat is that he slants toward the conservative / libertarian spectrum; but there's still nothing strictly wrong with what he says in the book as I recall. You'll also find it endlessly more entertaining than a principles text or anything else; for that matter.

    If nothing else it will introduce you to the economic way of thinking and support that with real world illustrations. This should give you a really good idea whether or not you want to continue further into the discipline of economics or you want to study something else.
    3 points in /r/AskEconomics by classicalecon | 08 Mar 2017

  • For economics; the best introduction by far is Thomas Sowell's Basic Economics.

    If you want something not quite so lengthy; other excellent introductions are Hazlitt's Economics in One Lesson and Gwartney's Common Sense Economics.
    2 points in /r/Conservative by classicalecon | 02 Oct 2016