Basic Economics

In this fifth edition of Basic Economics , Thomas Sowell revises and updates his popular book on common sense economics, bringing the world into clearer focus through a basic understanding of the fundamental economic principles and how they explain our lives. Drawing on lively examples from around the world and from centuries of history, Sowell explains basic economic principles for the general public in plain English. Basic Economics , which has now been translated into six languages and has additional material online, remains true to its core principle: 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.

"Basic Economics reveals 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, "Basic Economics demonstrates Thomas Sowell's 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 E. Williams, John M. Olin Distinguished Professor Economics, George Mason University, "Basic Economics is a healthy main course disguised as a rich dessert...Thomas 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, "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, 4th Edition] covers the whole range of economic concerns...It eliminates the usual graphs and equations, presenting readable text instead that any reader might find convincing."--Book News, Inc.

Thomas Sowell is the Rose and Milton Friedman Senior Fellow at the Hoover Institution and has taught economics at Cornell, UCLA, and Amherst. Author of Intellectuals and Society and the classic Basic Economics, among others, Sowell lives in Stanford, California.