Basic economics : a common sense guide to the economy /
Economics Common sense guide to the economy
Thomas Sowell.
- 3rd ed.
- New York : Basic Books, 2007.
- viii, 627 p.
What is economics? -- pt. I. Prices and markets. The role of prices ; Price controls ; An overview -- pt. II. Industry and commerce. The rise and fall of businesses ; The role of profits--and losses ; Big business and government ; An overview -- pt. III. Work and pay. Productivity and pay ; Controlled labor markets ; An overview -- pt. IV. Time and risk. Investment and speculation ; Risks and insurance ; An overview -- pt. V. The national economy. National output ; Money and the banking system ; Government functions ; Government finance ; An overview -- pt. VI. The international economy. International trade ; International transfers of wealth ; An overview -- pt. VII. Special economic issues. Myths about markets ; "Non-economic" values ; Parting thoughts.
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.