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Basic Economics, Fifth Edition

A Common Sense Guide to the Economy
Lu par : Tom Weiner
Durée : 23 h et 47 min
5 out of 5 stars (4 notations)
Prix : 36,89 €
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Description

In this fifth edition of Basic Economics, Thomas Sowell revises and updates his popular book on commonsense economics, bringing the world into clearer focus through a basic understanding of the fundamental economic principles and how they explain our lives. Drawing on lively examples from around the world and from centuries of history, Sowell explains basic economic principles for the general public in plain English.

Basic Economics,which has now been translated into six languages and has additional material online, remains true to its core principle: that the fundamental facts and principles of economics do not require jargon, graphs, or equations and can be learned in a relaxed and even enjoyable way.

©2014 Thomas Sowell (P)2014 Blackstone Audio, Inc.

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Global

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  • Global
    5 out of 5 stars
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  • M. Kunze
  • 10/02/2018

The most eye-opening book I have ever read

A fantastic book by a brilliant author, fantastically read by a brilliant orator.
To anyone who thinks "economics does not interest me", I say: Give this book a try regardless. I promise that, unless you have read other economics books before, this one will feel truly earth shattering. It is well-written, well-researched, easily understandable by everyone and enormous in its educational value. Grab it while you can.

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  • Global
    5 out of 5 stars
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  • Trenton
  • 04/10/2015

Phenomenal!

People say that is all the time, but this REALLY NEEDS to be required reading (listening in this case), and here is why:

Mr. Sowell expertly explains economics in this 25 hour long monster in a way that everyone can understand and enjoy. Everything he says is very well supported either using simple logic, hypothetical situations and many real world international and domestic examples.

Even if you don't agree with his explanations, you will still come out of this book with a better understanding of economics as you would have to come up with a logical reason to disagree with him, because his beautiful explanations and examples are essentially devoid of emotion, which is a very good thing.

Some of my favorite things of the book are:
- His often repeated statement is his definition of economics: Utilization of scarce resources which have alternative uses.
- His explanation of the difference between prices and costs.
- His examples of the effects of price controls.
- The absolute lack of mudslinging towards liberals, he actually operates under the assumption of people encouraging government intervention all with the best of intentions.
- His reminders how economists are known for being boring because of splashing cold water on policies due to cold hard boring facts.

This thing is almost 25 hours long, takes a while to listen to but it is like music to your ears. It's economics pure and simple and is fascinating.

Thomas Sowell for president! (Hey he's only 85, that isn't too old is it?)

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  • B. Davis
  • 17/03/2015

Great Publication

This is one of the best audio books I've purchased so far. I believe it should be required reading and that the principles should be taught early in the educational system. There is a lot of information that explains a lot of economic problems - poverty and unemployment, for example - that could be eliminated through policy adjustments or eliminations. The concepts are so clearly conveyed, in fact, that it's difficult to fathom how or why any great society would implement contradictory regulations.

The narrator spoke at a pace and pitch that facilitated ease of reception of the material (this is subjective, I suppose).

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  • Global
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  • DWR
  • 10/02/2015

Excellent Book on Basic Economics

Not really a "story" but it does tell the history and continuing effect of economics on our lives.

Thomas Sowell presents Economics in a very easy to understand and well illustrated way. This is the 5th edition so is up to date with current examples. There is a lot of information and a plethora of quotable quotes, so probably warrants additional listens to absorb it all.

Tom Weiner is perfect for this type of a book as he reads as one would expect an "expert" in this field might read.

A great book that I will definitely listen to again.

16 sur 19 personne(s) ont trouvé cet avis utile.

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  • Chris
  • 19/02/2018

Painful listening to this presenter

I found parts of this book frustrating and sections that felt like they dragged on for far too long when a more concise description would have been sufficient.

The author writes about complexities in determining effects of economic decisions and that more than a superficial analysis is needed which seems reasonable. He then gives an example of Microsoft not being a monopoly in the late 90s during their antitrust case for internet explorer with zero analysis and no facts. it makes me question the rest of his examples. Microsoft controlled almost the entire desktop market at a time when mobile computing didn’t exist and were bullies - making it difficult to install another browser, lying about the tight integration between IE and windows, and butchering web standards that companies are still paying the price for today with applications written on IE6 for example.

5 sur 6 personne(s) ont trouvé cet avis utile.

  • Global
    5 out of 5 stars
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  • Jeff M
  • 03/12/2017

Astonishing brilliance

Would you consider the audio edition of Basic Economics, Fifth Edition to be better than the print version?

I haven't ready the print version. But this translates well into audio; there are no charts or graphs in this economic tome. It's simple logic, presented clearly.

What did you like best about this story?

It's hard to argue with this guy. I have to be careful and not simply accept what he says at face value. Surely there are counter points! But how can you argue with history? That's his brilliance. History repeats itself, and Sowell uses history to demonstrate fallacy. Those who do not learn history are doomed to repeat it

What about Tom Weiner’s performance did you like?

He has a clear voice. I would imagine reading an economics book is difficult. He does a fine job

Did you have an extreme reaction to this book? Did it make you laugh or cry?

When I listen to the brilliant words of Thomas Sowell I feel my mind opening up to truth. Thank you, Thomas Sowell.

Any additional comments?

This should be required reading to anyone who votes. I admit I wish I knew someone who could present counter points to this; surely there must be a counter to his obvious brilliant analysis of the fallacy of anything other than free, open markets. He makes everything seem so self evident!

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  • d
  • 29/09/2017

Economics does not need to be esoteric.

This properly named book explains complicated economic concepts in simple language that anyone can understand. I highly recommend it to anyone interested in learning more about the fundamental forces at work in economics and to a certain degree, society as a whole.

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  • Palmetto Bob
  • 13/05/2017

Phenomenal Primer

Superior book on basic economics. Dr Sowell explains principles and gives examples that even an ol' boy with a Nebraska education can understand. Highly recommend this book to everyone, most especially to voters and potential voters. Politicians won't read it so we must...and then hold them accountable.

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    5 out of 5 stars
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  • CJA
  • 26/07/2015

Beautiful Economics

The Adam Smith of our generation, beautifully composed & presented in very understandable common sense logic.

The book tackles how a government's economic policies directly enhance or inhibit citizens's quality of life back up by a plethora of rich case history examples from rich sources.

I especially agreed with the consistent theme of getting needless government policies out of the way (price controls, central planning, etc.) & let the people be free to build & grow their businesses through the simplicity of supply & demand without letting government officials tangling up progress with needless & counterproductive legislation (Smoot-Hawley Tariff).

I was also surprised to learn that during the Great Depression of 1930s the Fed needlessly increased interest rates adding further crushing pressure on credit/money supply.

This is why we need authors like Thomas Sowell to prevent the mistakes of the past & see the power of the invisible hand of just letting people grow & build their dreams, to buy & sell, & simply let the market economy have room to work on its own. Government needs to have a balanced role in ensuring justice in economic transactions but the best thing it can do is wisely strategize its fiscal & monetary policies; then step out of the way, let people buy & sell, let people build their dreams, let people build their economy. Beautiful Economics.

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  • Sean
  • 09/01/2015

Smartest man in economics

You don't know what you don't know.
Never has it been more self evident.
Thanks to Mr Sowell for putting this together.

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  • stephan lins
  • 29/01/2019

free market propaganda

I consider myself to be a somewhat moderate European leaning slightly to a conservative standpoint. The book was highly appraised in the US media and I hoped to find an informative summary about the mechanisms and modes of economy, it’s theories, it’s constraints and controversies. I was baffled to listen to the highly politicized one-sided description of a free market-proponent, nothing short of propaganda.
The book is written in a simple language an it is easy to follow the line of thought. The narrator with his sonore voice does a wonderful job. Sowell vividly describes the basic mechanisms of an economy, but he always expresses a distaste to any form of regulation. While he claims to understand the motives of politicians who impose regulations in order to appease their constituents, in the end, Sowell always deems their decisions to be short sighted and any infringement on the free market to have negative effects for the consumers. This is an unscientific, unfalsifiable position which in light of some of the disastrous effects of deregulation and privatization in European countries is more than questionable. He frequently belittles politicians and people who do not share his extreme viewpoints in a condescending tone. As an open-minded and impartial analyst writing a book on the basics of economy one should refrain from such ad hominem attacks and assume the possibility that politicians are not just unable or unwilling to understand the mechanisms of the free market, but that they have to even out the undesirable effects the free market obviously can not answer for.

I first became skeptical when Sowell wrote about the negative effects of rent control in various countries such as Canada, the UK and the USA. The author lists some effects of rent control which contributed to the rise of rents in New York in the post-war period such as affluent couples keeping a second flat because of cheap rents, thereby worsening the shortage of affordable apartments. He than describes the positive effects of free market set rents such as families, old couples etc. just moving from one part of town to another if their need change.
I live in Germany where rents had been relatively stable for many years due to strict regulations designed to protect tenants and a rent control system. In the past years rents rose considerably especially in big cities such as Berlin and Munich and it arguably had nothing to do with restrictions of the free market, but because of mechanism imposed by it. Many factors did contribute to this rise, e.g. the low interest rates and the mass privatization of once state owned housing and apartment-complexes.
The authors pro free market- analysis of rent control constraints fails to describe these kinds of mechanisms which led to once stable and now soaring rents in Germany, where underprivileged and even middle-class families were forced to move into cheaper areas. He also fails to describe any negative repercussions this economic stratification of the population has on the functioning of a society…..well in an unrelated paragraph he describes the negative effects of making less profit for a dollar in poor areas, but he does not even consider the fairly reasonable assumption, that the development of such underprivileged areas, or ghettos, might be, at least in parts, a consequence of free market set rents and that rent control might have the intended positive effects.
What really baffled me was when he repeatedly criticized the model of universal, state-financed and thereby subsidized access to health care by e.g. citing a study which showed that only in the free market-driven health care system in the US patients had to wait less than a certain amount of time for elective surgery. Sowell exposes himself as an one sided agitator. He incessantly stresses the point, that only free market price fluctuations ensures the lowest prices on goods and services for consumers and he often cites media articles such as “The Economist”, but only if they prove his points. As an impartial analyst of economics he should have highlighted the fact, that the health care system is an example for the shortcomings of an unregulated free market to provide services at low costs and to meet the basic needs of all members of society. For example, a 2017 article entitled “The fix for american health care can be found in Europe” published in “ The Economist” compares the basic economic data of the US-system and various european systems. These numbers refute Sowells assumptions. The european health care systems e.g. in Switzerland, the Netherlands and Germany are less bureaucratic, cheaper and more efficient in benefiting all members of society and providing highest quality standards. They provide nearly universal coverage at lower costs and fees than the american system. In the US free market, many people cannot even express their need for health care, because they lack the financial means, a disgrace which would be unbearable for many Europeans who consider health care to be a human right nobody should be deprived of. In many health care related key figures indicating the wealth of a society the US fall behind heavily regulated health care systems even in the third world such as Cuba. (e.g. child mortality). It is a prime example for why one should be skeptical of the notion, that the unregulated free market is the most efficient system to provide all the goods an services a civilized society depends on. But Sowell remains silent on all these controversial issues.
Which brings me to the last point. Sowell frequently depreciates the socialist economic systems. He mockingly describes the lack of professionality and courtesy of soviet waitresses as a result of a lack of financial incentive. This is just one examples of tiring anti-socialist rhetoric which seems more to be fueled by a could war mentality than by a desire to understand the rationals of people. A leftist might have stated, that in the Soviet Union the waitress would have their basic needs meet by the government so that she did not have to degrade herself by showing some false friendliness to costumers she barley knows just to be paid a minimum wage. I think nobody would appreciate such rhetoric in a book entitled “Basic Economics”.

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  • Global
    5 out of 5 stars
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  • Warum_so_wenig_Aktion_gegen_Klimawandel
  • 24/11/2016

Should be required reading for every person

I learned so much about how economics works. So many things now make sense to me. The book was interesting all the way through, despite being 24h long. I now am less of a leftist. I rather think that capitalism makes a lot of sense and alternatives are not as good as they might seem.

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  • Global
    5 out of 5 stars
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  • stefan2030
  • 21/03/2019

Ein muss für jeden Bürger und Wähler

Sollte jeder mündige Bürger und Wähler gelesen / gehört haben! Das Buch vermittelt in normaler Sprache wie unser Wirtschaftssystem funktioniert, was in anderen Wirtschaftssystemen anders / aus dem Ruder läuft (Kommunismus) und welche (desaströsen) Konsequenzen manche gut gemeinte Gesetze haben.

  • Global
    5 out of 5 stars
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  • Amazon Customer
  • 12/03/2019

Decent into to economics

The book does a good job in connecting and explaining various ideas in a digestible manner.

  • Global
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  • Weiwei Cheng
  • 30/10/2018

A masterpiece. Must read.

If you can only read one book about economics, I would recommend this one.

The book is especially valuable as it keeps you clear-headed in current political climate.

Basic Economics doesn't have math formulas, nor complex graphics. It is perfect for Audible.

  • Global
    5 out of 5 stars
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  • Kevin Schmidt
  • 02/09/2018

One of the best books I've read so far

I you're looking for a comprehensive but understandable guide to economics - this is it.
Thomas Sowell introduces numerous economic principles and discusses their implication through various real world examples.

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  • Global
    5 out of 5 stars
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  • Lysia
  • 02/08/2018

wonderful

An instant classic! Everybody should read this book, especially the ones who follows politics or have strong opinions about social issues.

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