Book Review: Basic economics by Thomas Sowell

Introduction

Basic Economics- A Common Sense Guide to the Economy,

4th Edition

Thomas Sowell (Author)

Basic Books, December 2010.

786 Pages. $39.95 U.S.

ISBN 978-0-465-02252-6

Economics is generally perceived to be a difficult subject, encompassing many details and in-depth analysis. This could not only be mind boggling for students, but can also result in unclear, confused concepts. However, Thomas Sowell has made the student's life easy. While it is extremely important to study the economy principles and fundamental for better understanding of a society's production, distribution and consumption patterns of goods and services, it is equally important to develop clearly defined concepts in the minds of learners, avoiding unnecessary jargons and equations. This has been realized by Thomas Sowell in his much acclaimed learner-friendly publication: Basic economics- a Common Sense Guide to the Economy (4th Edition). The Book covers basic parameters of Economics and surveys on its guiding principles. The special feature of this issue is a whole chapter dedicated to explaining the history of economics and its implications. The main purpose of the author behind this publication is to familiarize the students and general public with the basics of economics in an easy tone that can be clearly grasped by anyone and everyone who wishes to study what principles underlie the vast field of economics on what can be its implications on any society. The book has been focused on making this learning experience enjoyable as well as insightful. The USP of the book remains its learner-friendliness, easy-to-understand explanations, and its scope that has been very well covered. This one is highly recommended for high school students and general public.

General Subject Matter: Economics

Theme: Guiding principles of economics and its Implications

Thesis: The fundamental concepts and principles of economics can be understood in an uncomplicated and interesting manner (Sowell, 2004).

About Thomas Sowell (The Author)

Thomas Sowell is an American economist, social theorist and an author who was born on June 30th, 1930. Currently he is working as a senior fellow for Hoover Institute at Stanford University which is a private university for Research in California. He has to his credit, numerous books, articles and syndicated columns for general public. He has taught economics at a number of renowned academic institutes including University of California, Los Angeles. The themes of his writings are varied in range; from social policies on race, ethnic groups, education and decision-making, to classical and Marxist economics, to the problems of children perceived as having disabilities. He had been awarded the Bradley Prize for intellectual achievement in the year 2003 and also the National Humanities Medal for prolific scholarship in the subject areas of economics, history, and political sciences. His writings are attributed to his easy way of explaining the most complicated of concepts. He writes with such clarity that leaves no space for confusion and ambiguity (Sowell, 2004).

Description

The book has been updated for changing trends and theories in economics over time. This “new and improved” version of the Book has some special chapters added to it which ...