Basic Economics: A Citizen's Guide to the Economy

For those who want to comprehend how the economy works but are uninterested in technical terms or calculations, Basic Economics is a citizen's guide to economics. Sowell exposes the fundamental ideas underlying all economic systems, whether feudal, socialist, capitalist, and so on. He demonstrates in easily understood words how to evaluate economic policies based on the incentives they provide rather than the objectives they declare. This book is essential reading for anybody who wants to understand how the economy works, since it provides in-depth explanations of every aspect of the subject, including rent control, corporate growth and decline, and international balance of payments.