Although the book is rather lengthy, it is pretty simple to understand.
Basic Economics doesn’t have any of that and the author doesn’t use Ivy League vocabulary. Many times economics books are filled with language that average readers can’t understand, or worse, pages of math formulas that no one will look at for more than a few seconds. Sowell does a great job writing this book for non-academics. You actually start to see how they might actually make things worse. The outcomes of these well intentioned government laws, and aspects of government economic policy, will shock you! In fact, after reading this, it made me think twice before supporting many of the initiatives that lawmakers press for. He discusses economic policies and elaborates on such topics as subsidized housing, rent control laws, affirmative action and more. If you think that the political side of economics is enough to make you want to put down this book, then think again! Sowell is a master storyteller when it comes to relating how a government’s best intention can actually have negative outcomes. It’s a perfect example of explaining the basics of economics to a wide audience that has little previous knowledge. Whether it’s on the highly debated topic of minimum wages or the effect of unions, this book breaks down complex arguments into easily digestible economic outcomes. This is the main strength of this book compared to others in its field it lays out some of the easiest examples to understand that I have ever seen. It covers some things you probably never even considered as being economic based. This book does a great job of providing examples of cause and effect relationships. If everyone read this book, and learned about the basics of economics, we would have a much more prosperous economy. Every section is almost like a complete book in and of itself while the whole book is a collective masterpiece of economic teaching for Main St.
Each section also provides a background of the topic being discussed along with examples to illustrate how we see these principles in action in our everyday lives. Core Principlesīasic Economics is broken down into key sections so that you can digest each relevant economic principle at your own pace. He is currently a professor of economics at Stanford University, but after reading this book, I think he has many more students outside of his classroom. In addition to being a well-educated and globally respected economist, he has the ability to break down complex economics terminology into easy to understand examples that everyday people like you and I can understand.
He started out in poverty and became one of the premier American economists of our time. Thomas Sowell is a brilliant economist who had a rough history before he succeeded in life because of hard work.
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