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Basic Economics: A Citizen's Guide to the Economy
By Thomas Sowell
384 pages
- Contributors:
- Publisher:
- Basic Books
- Place of publication:
- New York
- Publication year:
- 2000
- Subjects:
Synopsis
Here at last is a citizen's guide to economics -- a book for those who want to understand how their country's economy works but have no interest in graphs, jargon, or equations. Thomas Sowell reveals the general principles behind any kind of economy -- capitalist, socialist, feudal, or otherwise. In readable language, he helps the reader 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 ...
Here at last is a citizen's guide to economics -- a book for those who want to understand how their country's economy works but have no interest in graphs, jargon, or equations. Thomas Sowell reveals the general principles behind any kind of economy -- capitalist, socialist, feudal, or otherwise. In readable language, he helps the reader 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 really functions.
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Table of contents
The first page of every section is available free to non-members – click a section heading to start reading now!
- Title Page iii
- Contents vii
- Preface ix
- Acknowledgements xi
- Chapter I - What Is Economics? 1
- Part I - Prices 5
- Chapter 2 - The Role of Prices 7
- Chapter 3 - Price Controls 21
- Chapter 4 - An Overview 39
- Part II - Industry and Commerce 57
- Chapter 5 - The Rise and Fall of Businesses 59
- Chapter 6 - The Role of Profits -- and Losses 73
- Chapter 7 - Big Business and Government 89
- Chapter 8 - An Overview 105
- Part III - Work and Pay 125
- Chapter 9 - Productivity and Pay 127
- Title Page iii
- Contents vii
- Preface ix
- Acknowledgements xi
- Chapter I - What Is Economics? 1
- Part I - Prices 5
- Chapter 2 - The Role of Prices 7
- Chapter 3 - Price Controls 21
- Chapter 4 - An Overview 39
- Part II - Industry and Commerce 57
- Chapter 5 - The Rise and Fall of Businesses 59
- Chapter 6 - The Role of Profits -- and Losses 73
- Chapter 7 - Big Business and Government 89
- Chapter 8 - An Overview 105
- Part III - Work and Pay 125
- Chapter 9 - Productivity and Pay 127
- Chapter 10 - Controlled Labor Markets 149
- Chapter 11 - An Overview 167
- Part IV - Time and Risk 173
- Chapter 12 - Investment and Speculation 175
- Chapter 13 - Risks and Insurance 193
- Chapter 14 - An Overview 207
- Part V - The National Economy 213
- Chapter 15 - National Output 215
- Chapter 16 - Money and the Banking System 223
- Chapter 17 - The Role of Government 237
- Part VI - The International Economy 267
- Chapter 19 - International Trade 269
- Chapter 20 - International Transfers of Wealth 283
- Chapter 21 - An Overview 297
- Part VII - Popular Economic Fallacies 303
- Chapter 22 - Non-Economic Values 305
- Chapter 23 - Prices and Purchasing Power 315
- Chapter 24 - Business and Labor 329
- Chapter 25 - An Overview 343
- Sources 347
- Index 359