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 functions. In readable language, he shows how to critique economic policies in terms of the incentives they create, rather than the goals they proclaim. Bestselling economist Thomas Sowell explains the general principles underlying different economic systems: capitalist, socialist, feudal, and so on. In short, it is a book about analysis as well as history.About the Book Sowell explains the principles of economics in plain jargon for the general public, answering questions like: Why are homeless people sleeping on the sidewalks of New York in the winter, when abandoned apartment buildings have four times as many dwelling units as there are homeless people in the city? Why did Russians have to import food to feed people in Moscow, when Russia itself had vast amounts of some of the richest farmland in Europe? What are the reasons for the large differences in income and wealth between nations? Book Synopsis The bestselling citizens guide to economics Basic Economics is a citizens guide to economics, written for those who want to understand how the economy works but have no interest in jargon or equations. Clear, engaging, and very readable, without being either cute or condescending, On Classical Economics can enable a course on the history of economic thought to make a contribution to students’ understanding of economics in general-whether in price theory, monetary theory, or international trade. In addition to a general understanding of classical macroeconomics and microeconomics, this book offers special insight into the neglected pioneering work of Sismondi-and why it was neglected-and a detailed look at John Stuart Mill's enigmatic role in the development of economics and the mysteries of Marxian economics. It is not simply a Cook's tour of colorful personalities of the past but a study of how certain economic concepts and tools of analysis arose, and how their implications were revealed during the controversies that followed.

On Classical Economics is a book from which students can learn both history and economics. The classical era in the history of economics is an important part of the history of ideas in general, and its implications reach beyond the bounds of the economics profession. A reexamination of classical economic theory and methods, by a senior economist of international stature Thomas Sowell's many writings on the history of economic thought have appeared in a number of scholarly journals and books, and these writings have been praised, reprinted, and translated in various countries around the world.

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