Thomas Sowell's "Basic Economics: Principles and Policy" (Page 127)

Ilias Stamatis: I think this book is definitely worth a read, even if one doesn't agree 100% with everything that is in there.

United Kingdom on Sep 16, 2023

Gerard: "Economics is the study of the use of scarce resources which have alternative uses." Sowell sticks to that the entire book. Really provides a foundational knowledge of economics that there's not much to argue over.

United States on Sep 06, 2023

Sopheap: Good

United States on Aug 25, 2023

Alex: :) Great book and it came fast :)

Canada on Aug 22, 2023

Bill H: For the economic illiterates out there (maybe 95% of the population) this is required reading. It is surprising how a little knowledge can go a long way, considering that so many illiterate people have a say in each other's lives. The concepts aren't difficult and it doesn't take long to read.

United States on Aug 21, 2023

jason bell: Sowell is one of my heroes, so I am heavily biased towards his point of view, so I’ll be brief.

This is one of the greatest works in economics- as he says “basic economics” that I’ve ever read. If you want to get a general grasp on local , national and global economics this is the book for you. It not only explains the basics but it exposes common lies and talking points that we often hear in the mainstream.

I took 3 courses in economics in college and a few hours with this book was far more educational (and at considerably lesser cost) than my courses were.

It’s not a quick read and it’s not super-easy, it will require some thought on the reader’s part, but there are very few formulas or graphs that economists usually hide their false conclusions in.

For parents of teenagers (my son was 18 when I had him read it) I would definitely recommend the book. But even for old folks like myself, it was a great read.

My edition was hardcover, arrived quickly and in good condition. Amazon packed it perfectly.

United States on Aug 14, 2023

Callum: I'm studying economics so thought some extracurricular reading could help. If you consider yourself anywhere on the far-left to centre on economics this book will challenge your pre-conceived notions in a fairly non-moralistic fashion with plenty of examples to back up claims.
My only gripe would be that many of the arguments presented assume 'perfect competition' which, in practice, is often far from reality.

United Kingdom on Jun 16, 2023

SandySandy: if you want to read "one" book in economics then this is the one. Great book. Please read it cover to cover.

“What each individual wills is obstructed by everyone else, and what emerges is something that no one willed.”― Engels Friedrich

Thomas Sowell breaks down the myth that Govt knows the best in his treatise aptly named basics economics. Furthermore, he proves through data that most actions taken by the govt show its effects many years or even decades after incumbent politicians are gone thus they themselves have never pay the price their own follies. Unlike the "govt" a Business will go "bust" within a few months if it doesn't allocate capital appropriately. The euro tunnel and Concord plane were both colossal sink holes but the govt continued its hemorrhage policy because it pandered to "good" press.

He covers India and China in detail. Nehru quotes “I hate the word profit” This was the pernicious mindset which led India to a socialist and nationalization path which kept India poor for a very long time even after independence. Meanwhile China also suffered immensely under the “socialist” reforms under Mao and only emerged out of its poverty...

India on Oct 29, 2022

Richard B. Schwartz: This is a superb introduction to Economics, written without mathematical symbols or equations. It is written for the general reader and should be accessible to any interested general reader. It is a doorstop at nearly 700 pp. but it reads quickly and holds the attention well.

TS begins with a single concept and plays it out in a multiplicity of contexts: resources are scarce and can be put to multiple uses. Wood can be used to make desks, paper, mulch, etc. Beginning with that notion he explores prices, markets, work, pay, time, risk, the national economy, international economy, and so on. He provides a brief history of Economics and even asks a set of questions that a teacher (particularly a home schooler) might utilize.

Beginning as a Marxist, TS studied Economics with Milton Friedman at the University of Chicago. He is a 'Chicago-style' economist as well as one of the country's top public intellectuals. A few of his key comments will indicate his general orientation. He is skeptical of governmental intrusions and controls and is quick to point out the fact that many intelligent and educated people have a way of forgetting the basic laws of economics. Economics is...

United States on Jun 29, 2020

mister tom: (Zum Zeitpunkt der Rezension las ich 50% des Buches;
Negatives kommt am Ende zur Sprache)

Das Buch wurde von Thomas Sowell, der in den 1960ern als Schwarzer an Harvard studierte, und die affirmative actions aufs schärfste verurteilt, geschrieben! Alleine das ist Grund genug das Buch in die Hand zu nehmen.

Sowell erklärt sehr genau (teilweise zu genau) wie die Wirtschaft funktioniert, bzw. wie sich verschiedene Eingriffe des Staates in die Wirtkschaft auswirken. Er zeigt mit einer unglaublichen Anzahl an Beispielen aus den verschiedensten Teilen der Welt und zu unterschiedlichsten Zeiten, wie das Prinzip von Angebot und Nachfrage bis ins Detail funktionieren.
Man merkt ihm dabei an, dass er seine Theorien nicht auf Ideologien basiert, sondern auf Beobachtungen des Marktes.

Ein Beispiel: Mietpreisdeckelung. Es hat mich zutiefst erstaunt, wie Sowell mit Beispielen erklärte, dass eine staatlich verordnete Mietpreisbremse mehr negative Konsequenzen nach sich zieht, als wenn man den Markt freie Hand lässt.
Noch mehr erstaunte mich, dass alles was er über Mietpreisdeckelung in seinem Buch vorhersagt 1:1 in Wien beobachtbar ist!
Wenn ein Staat die...

Germany on Sep 18, 2018