Basic Economics
Basic Economics
Thomas Sowell
Ben Shapiro
[If you read this book and Economics in One Lesson"] you'll know more than all or your classmates combined about the basic workings of free markets and economics." - Ben Shapiro
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Basic Economics

Basic Economics: A Citizen's Guide to the Economy

Thomas Sowell
By
Thomas Sowell
4.4
1263
ratings on Goodreads

In "Basic Economics," Thomas Sowell demystifies the complex world of economic principles, making them accessible to anyone with a curiosity about how economies operate. Stripping away the intimidating facade of graphs, equations, and jargon, Sowell embarks on a lucid exploration of the fundamental laws that underpin capitalist, socialist, and even feudal systems. Through engaging narrative, he uncovers the motivations behind economic policies, urging readers to evaluate them based on the incentives they generate rather than the lofty goals they aim to achieve. This book serves as an indispensable guide for those seeking to grasp the mechanics of economic forces in daily life and the global stage. Sowell's masterful exposition extends beyond mere theory, delving into practical applications that affect everything from rent control and business cycles to international trade and the balance of payments. With "Basic Economics," he offers a lens to view the economic rationale behind policy decisions and market outcomes, providing readers with the tools to critically assess the economic arguments and decisions that shape our world. Whether you're a student, a professional, or simply a curious mind, Sowell's clear, insightful prose promises to enlighten your understanding of economics, without requiring a background in the subject. This book stands as a beacon for anyone eager to navigate the complexities of economic policies and principles with confidence and discernment.

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Released
2000
1 Jan
Length
448
Pages

1

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[If you read this book and Economics in One Lesson"] you'll know more than all or your classmates combined about the basic workings of free markets and economics." - Ben Shapiro
Unfortunately, the real minimum wage is always zero, regardless of the laws, and that is the wage that many workers receive in the wake of the creation or escalation of a government-mandated minimum wage, because they lose their jobs or fail to find jobs when they enter the labor force. Making it illegal to pay less than a given amount does not make a worker’s productivity worth that amount—and, if it is not, that worker is unlikely to be employed.
— Thomas Sowell, Basic Economics

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