Reason one: Basic Economics is practical. Dr. Sowell has written this book is written so that virtually anyone can read it and come away with a basic grasp of economic principles. Basic Economics is not intended to replicate an economics curriculum, but you will find some economics classroom principles, written in layman’s terms, in this book.
Reason two: Basic Economics is relevant to today’s economic environment. Although Dr. Sowell’s book was first published in 2000, Basic Economics is now in its fourth edition, with updated chapters on such topics as government finance, as well as current examples of the economic principles he discusses. Basic Economics gives unbiased, rational explanations for the causes of such events as the Soviet Empire collapse and California’s energy crisis of 2001. Additionally, Sowell gives rational explanation to the impact of government policies such as rent control laws, wage and price freezes, subsidies, and import tariffs.
Reason three: Thomas Sowell explains economic principles in a very clear, non-partisan manner. It is clear that many government programs, campaigns, and agendas go against basic economic sense, and Dr. Sowell gives very concise explanations so the layman can understand both sides of a particular issue. Dr. Sowell’s argument is that without respect to party lines, most government programs have an adverse impact on the free movement of the market economy. Many of these economic issues are discussed every election campaign, and Dr. Sowell discusses each of them in depth throughout Basic Economics.
Thomas Sowell’s Basic Economics gives a clear explanation of our economic system, and how it impacts everyday life throughout the world. However, Dr. Sowell’s best achievement lies in the fact that he explains these economic principles in terms that any layman can understand.