Summary
Thomas Sowell's "Basic Economics" is a non-fiction book that aims to teach economics in plain English. It focuses on how societies organize their economies to create prosperity or poverty.
Content
The book covers topics such as prices, competition, trade-offs, taxes, industry, commerce, work, pay, time, risk, national economy, and international economy. Sowell uses simple language, anecdotes, and examples to illustrate complex economic concepts.
Praise
Reviewers have praised "Basic Economics" for its clear and engaging explanations. They have described it as "an exhilarating tour of economic fundamentals" and "an excellent gift" for those interested in economics.
Criticism
However, some critics have argued that Sowell's economics is not truly objective and that he downplays the role of inequality in society.
Impact
"Basic Economics" has been widely read and reviewed, and has helped make economics more accessible to the general public. It has also been used as an introductory textbook in some schools and universities.