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This citizen's guide to economics is aimed at those who want to understand how their country's economy works but have no interest in graphs, jargon, or equations. In accessible language, Sowell reveals the general principles behind any kind of economy - capitalist, socialist, or feudal.With explanations of rent control and the rise and fall of businesse s to the international balance of payments, the author aims to help the reader critique economic policies in terms of the incentives they create, rather than the goals they proclaim.
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This is the revised and enlarged edition of a new kind of introduction to economics for the general public-without graphs, statistics, or jargon. In addition to being updated, Basic Economics has also become more internationalized by including economic problems from more countries around the world, because the basic principles of economics are not confined by national borders. While most chapter titles remain the same, their contents have changed considerably, reflecting the experiences of many different peoples and cultures.
Thomas Sowell has taught economics at a number of colleges and universities, including Cornell, University of California Los Angeles, and Amherst. He has published both scholarly and popular articles and books on economics, and is currently a scholar in residence at the Hoover Institution, Stanford University.
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