Basic Economics: A Common Sense Guide to the Economy (5th ed.). Basic Books, December 2014.

This is an updated edition of Basic Economics — a citizen’s guide to economics for those who want to understand how the economy works but have no interest in jargon or equations… In readable language, [Sowell] shows how to critique economic policies in terms of the incentives they create, rather than the goals they proclaim. With clear explanations of the entire field, from rent control and the rise and fall of businesses to the international balance of payments, this is the first book for anyone who wishes to understand how the economy functions.

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