The fourth edition of Thomas Sowell’s magisterial text on economics, Basic Economics: A Common Sense Guide to the Economy
The fourth edition has a new chapter on the history of the development of economics itself and the issues raised by that history. It also has a new, extensive section on the economics of corporations in the chapter on big business and government. Other chapters have also been updated, and the book has gotten quite a bit beefier, now totaling 689 pages (including the index).
A few editorial reviews:
Clear and concise…among economists of the past thirty 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
“Basic Economics is a healthy main course disguised as a rich dessert. The expanded Fourth Edition now weighs in at well over 600 pages. Readers will celebrate the girth. Tom Sowell’s smooth writing, irresistible logic, deep knowledge and flawless economics make each page an explanatory treat to experts and novices alike.” —Thomas Hazlett, Professor of Law & Economics and Director, Information Economy Project, George Mason University
“Badly needed…. Anyone who has been subjected to biased and dreary economics textbooks should read Basic Economics as a bracing corrective.”—Claremont Review of Books
“Basic Economics demonstrates in every chapter why Thomas Sowell is one of America’s greatest thinkers. It is must-reading for anyone who wants the truth about how the laws of economics govern so many of the events in our daily lives.”—Arthur C. Brooks, President, American Enterprise Institute and author of The Battle: How the Fight between Free Enterprise and Big Government Will Shape America’s Future
“Alchian said the true test of whether one understands his subject is whether he can explain it to someone who doesn’t know a darn thing about it. Mr. Sowell wasn’t Alchian’s student, but Basic Economics demonstrates his ability to make economics understandable to a person who hasn’t set foot in an economics class. It’s a book rich with explanations and examples of everyday economics issues.”—Walter Williams, George Mason University
“The unyielding truths of economics befuddle social engineers of all stripes. Sowell, in exemplary fashion, strips the mystery from those truths, making them intuitive—even obvious.” —David Boaz, Executive Vice President, Cato Institute and author of Libertarianism: A Primer
