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.
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.
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