The bestselling citizen's guide to 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.

An accessible, jargon-free resource outlines the principles behind each major type of economy including capitalist, socialist, and feudal, in terms of the incentives each creates.

Vorwort
The bestselling citizen's guide to economics

Autorentext

Thomas Sowell is a senior fellow at the Hoover Institution, Stanford University. He is the author of dozens of books including Charter Schools and Their Enemies, winner of the 2021 Hayek Book Prize. He is the recipient of numerous other awards, including the National Humanities Medal, presented by the President of the United States in 2003.
 

Klappentext

**The bestselling citizen's guide to economics

“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, New York Times bestselling author of Build the Life You Want**

Basic Economics is a citizen's guide to economics, written for those who want to understand how the economy works but have no interest in jargon or equations. Bestselling economist Thomas Sowell explains the general principles underlying different economic systems: capitalist, socialist, feudal, and so on. In readable language, he shows how to critique economic policies in terms of the incentives they create, rather than the goals they proclaim. With clear explanations of the entire field, from rent control and the rise and fall of businesses to the international balance of payments, this is the first book for anyone who wishes to understand how the economy functions.

This fifth edition includes a new chapter explaining the reasons for large differences of wealth and income between nations.

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.
 

Zusammenfassung
A revised, 5th edition of this bestselling guide to the economy.