Basic Economics: A Common Sense Guide to the Economy

Basic Economics: A Common Sense Guide to the Economy

Basic Economics: A Common Sense Guide to the Economy

Basic Economics: A Common Sense Guide to the Economy

Excerpt

This is a book for the general public or for beginning students in economics. Just as many people do, this book has put on weight with the passing years, as new chapters have been added and existing chapters expanded for clarification and updated to stay abreast of changing developments in economies around the world. This edition has a new chapter on the history of the development of economics itself and the issues raised by that history. It also has added an extensive section on the economics of corporations in the chapter on big business and government, as well as other new material in other chapters.

Readers’ continuing interest in these new editions at home, and a growing number of translations into foreign languages overseas,* suggest that there is a widespread desire for readable information on economics, as distinguished from the jargon, graphs, and equations that are all too common in many writings on the subject. Through its various editions, the fundamental idea behind Basic Economics remains the same: Learning economics should be as uncomplicated as it is informative.

Most of us are necessarily ignorant of many complex fields, from botany to brain surgery. As a result, we simply do not attempt to operate in, or comment on, those fields. However, every voter and every politician that they vote for affects economic policies. We cannot opt out of economic issues and decisions. Our only options are to be informed, uninformed, or misinformed, when making our choices. Basic Economics is intended to make it easier to be informed. The fundamental principles of economics are not hard to understand but they are easy to forget, especially amid the heady rhetoric of politics and the media. The vivid real-life examples used

* Previous editions have been translated into Chinese, Hebrew, Japanese, Swedish, Korean, and Polish.

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