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Basic Economics 2nd Ed: A Citizen's Guide to…
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Basic Economics 2nd Ed: A Citizen's Guide to the Economy, Revised and… (original 2001; édition 2003)

par Thomas Sowell

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1,513248,997 (4.2)22
Thomas Sowell explains the principles of economics in plain jargon for the general public, answering questions like: Why are homeless people sleeping on the sidewalks of New York in the winter, when the abandoned apartment buildings have four times as many dwelling units as there are homeless people in the city? Why did Russians have to import food to feed people in Moscow, when Russia itself had vast amounts of some of the richest farmland in Europe?… (plus d'informations)
Membre:sci901
Titre:Basic Economics 2nd Ed: A Citizen's Guide to the Economy, Revised and Expanded Edition
Auteurs:Thomas Sowell
Info:Basic Books (2003), Edition: Rev Exp, Hardcover, 448 pages
Collections:Votre bibliothèque
Évaluation:
Mots-clés:to-read

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Basic Economics: A Common Sense Guide to the Economy par Thomas Sowell (2001)

  1. 10
    Applied Economics par Thomas Sowell (Utilisateur anonyme)
  2. 00
    Economism: Bad Economics and the Rise of Inequality par James Kwak (themulhern)
    themulhern: An early chapter of "Economism" is a masterly exposition of economists' ideas of supply and demand curves. The first chapter of "Basic Economics" uses supply and demand curves,without ever mentioning them. Without "Economism"'s explanation I would not have been able to construct a sensible understanding of Sowell's dairy products example. With it, it all made sense. Funny thing is that I think the authors of these two books are in vehement disagreement about economics itself; but they both happen to be excellent writeres.… (plus d'informations)
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» Voir aussi les 22 mentions

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A dense book. The author made a choice to leave out the charts and graphs; I had to fill them in mentally or I could not follow his arguments. An excellent writer, pithy and smart.
  themulhern | Apr 30, 2021 |
While this book has a wealth of information about economics and helped me understand some of the reasoning behind various economic activities going on in our world, I have 2 huge problems with this book that prevent me from recommending it to other people:

1. It is very biased and takes on the capitalist agenda completely, never missing a single opportunity to comment on the futility and ineffectiveness of socialist economies and the MAGICAL powers of capitalist economies to regulate itself and be efficient. I did not appreciate this one-minded approach.

2. It is very repetitive. It explains a concept or an idea followed by an example followed by a re-explanation followed by another example then another re-explanation and so on. Every chapter in the book more ore less follows that formula. I know this is used to hammer the point, but this is just a bit too much hammering. ( )
  AmrAlSayed0 | May 27, 2020 |
"Basic Economics" is an excellent, plain language introduction to the basics and fundamentals of economics. Technical words, phrases, and theories are avoided, making this book appropriate for anyone interested in expanding their horizons despite whatever their background.

Absolute must read by those interested in better understanding how the world works around them. ( )
  clayton.j.erickson | Sep 23, 2019 |
I really enjoyed this book. Though it doesn't really use any charts or graphs, the book uses down to earth language that explains economics in easy terms. It is rather eye-opening in one sense, but there isn't really any room for human emotion in the whole economics game. I have read some Ayn Rand novels, and it really feels like a manifesto by one of her characters. The market prunes the fat and improves efficiency in multiple ways. By allowing the supply and demand system to take care of things, prices aren't artificially propped up by people as long as there is competition for that dollar or other unit of currency.

The thing that is really detrimental to the economy is government regulation. Professor Sowell uses multiple examples of places that were rich in resources but inefficient in using them, and as this book says, Economics is the use of scarce resources that have alternative uses. The main part is alternative uses. Later in the book he gets into comparative advantage, absolute advantage and economies of scale, but more of the book is spent talking about the government regulation that props up prices and changes incentives.

As Professor Sowell mentions, usually you want to keep up with repairs and maintenance on your home and other pieces of property. Farmers in the United States have incentive to sell only the best produce and other products they can make or else the market will force them to do something else with their time. The propping up of prices and offering of subsidies to low income groups over-complicates the system and changes the whole game. In a Social Marxist nation such as the Soviet Union, the farmers had no incentives to sell their best product and toss out the rotten stuff.

So long story short, politics is bad. Sure the Government has a role, but there are things that it just doesn't need to do. A framework of law and order is the main thing, providing a safe place for products to move from one place to another without thieves and other malcontents absconding with them. ( )
  Floyd3345 | Jun 15, 2019 |
I feel very satisfied to have completed this chunkster that has been on my list for several years.
Basic Economics is pretty much a textbook, and I wish it was the one I had been taught from in high school. Thomas Sowell is definitely smart and I imagine he's an excellent economist. He's an even better teacher. He also has the ability to write a difficult subject so that it is quite readable and understandable. He argues that economics is something we should all understand better, that thinking carefully about both the goals of economic policies and the incentives they create is vital to really knowing if something is going to be a good policy or not. I understand economics much better now, but I will be keeping this book handy. ( )
  nittnut | Aug 30, 2018 |
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Preface: This is an introduction to economics for the general public. The growing sophistication of professional economists has not been accompanied by any greater spread of knowledge about basic economic principles among the population at large.
Text: To know what economics is, we must first know what an economy is.
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Thomas Sowell explains the principles of economics in plain jargon for the general public, answering questions like: Why are homeless people sleeping on the sidewalks of New York in the winter, when the abandoned apartment buildings have four times as many dwelling units as there are homeless people in the city? Why did Russians have to import food to feed people in Moscow, when Russia itself had vast amounts of some of the richest farmland in Europe?

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