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Basic Economics Summary

Thomas Sowell

Basic Economics

by Thomas Sowell

Basic Economics

Thomas Sowell

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Renowned economics professor Thomas Sowell explains how economics works, and how to understand the world through its theories.

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Basic Economics

by Thomas Sowell

Basic Economics

Thomas Sowell

Overview

Because we live in a world with limited resources, it's impossible to provide all human beings with everything they desire. So how do we allocate resources? And how do we determine what to produce? This is where economics comes in.

Economics, according to Stanford economics professor, social theorist, and senior fellow at Stanford's Hoover Institution Thomas Sowell, is the study of the use and distribution of the limited resources we have access to. In Basic Economics, Sowell gives a comprehensive beginner's guide to the subject from a conservative, free-market perspective.

Originally published in 2000 and now in its fifth edition, the book is written in readable language free from jargon, graphs, and equations. Sowell covers basic concepts such as supply and demand, the institutions of national and international economies, and the misconceptions surrounding this subject.

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Favorite Quote

"There has never been enough to satisfy everyone completely."

Thomas Sowell

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Basic Economics

Thomas Sowell

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