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The fourth edition of Basic Economics is both expanded and updated. A new chapter on the history of economics itself has been added, and the implications of that history examined. A new section on the special role of corporations in the economy has been added to the chapter on government and big business, among other additions throughout the book.Basic Economics, which has now been translated into six languages, has grown so much that a large amount of material in the back of the book in previous editions has now been put online instead, so the book itself and its price will not have to expand. The central idea of Basic Economics, however, remains the same: that the fundamental facts and principles of economics do not require jargon, graphs, or equations, and can be learned in a relaxed and even enjoyable way.
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“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 About the Author:
Thomas Sowell l has taught economics at Cornell, UCLA, Amherst, and other academic institutions. He is currently a scholar in residence at the Hoover Institution, Stanford University. He has published in academic journals and in such popular media as the Wall Street Journal, Forbes, and Fortune, and he writes a syndicated column that appears in newspapers across the country.
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