9780465081455

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 is the Rose and Milton Friedman Senior Fellow on Public Policy at the Hoover Institution, Stanford University.

Preface	p. ix
Acknowledgements	p. xi
What Is Economics?	p. 1
Prices
The Role of Prices	p. 7
Price Controls	p. 21
An Overview	p. 39
Industry and Commerce
The Rise and Fall of Business	p. 59
The Role of Profits--and Losses	p. 73
Big Business and Government	p. 89
An Overview	p. 105
Work and Pay
Productivity and Pay	p. 127
Controlled Labor Markets	p. 149
An Overview	p. 167
Time and Risk
Investment and Speculation	p. 175
Risks and Insurance	p. 193
An Overview	p. 207
The National Economy
National Output	p. 215
Money and the Banking System	p. 223
The Role of Government	p. 237
An Overview	p. 261
The International Economy
International Trade	p. 269
International Transfers of Wealth	p. 283
An Overview	p. 297
Popular Economic Fallacies
"Non-Economic" Values	p. 305
Prices and Purchasing Power	p. 315
Business and Labor	p. 329
An Overview	p. 343
Sources	p. 347
Index	p. 359
Table of Contents provided by Syndetics. All Rights Reserved.

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Basic Economics : A Citizen's Guide to the Economy

Basic Economics : A Citizen's Guide to the Economy

0465081452

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Table of Contents

Supplemental Materials