Basic Economics, Fourth Edition

A Common Sense Guide to the Economy

By: Thomas Sowell

Narrated by: Tom Weiner

The fourth edition of Basic Economics is both expanded and updated. A new chapter on the history of economics itself has been added, and the implications of that history examined. Among other additions throughout the book, a new section on the special role of corporations in the economy has been added to the chapter on government and big business.

Basic Economics, which has now been translated into six foreign languages, has grown so much that a large amount of material previously found in the back of the book has now been put online instead so that neither the book itself nor its price will have to expand. The central idea of Basic Economics, however, remains the same: 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.

©2011 Thomas Sowell (P)2010 Blackstone Audio, Inc.

Critic reviews

“Clear and concise…Among economists of the past 30 years, [Sowell] stands very proud indeed.” ( Wall Street Journal)

This Must-Read will inoculate you against fraud

Sowell covers so many economic fallacies (fallacies we have heard propagated daily in the news, for all of our lives), and explains why they are wrong. He uses inventive illustrative scenarios to make clear difficult concepts. He takes you well-past a limited concept or idea, to the full consequences of that idea, and makes the case using real-world historical examples from around the world. This will inoculate you against future fraud for the rest of your life. My only critique: the reader, while clear and understandable, is a bit dry and devoid of expression. Still worth it though. I have "re-read" many chapters since I bought it.

A big blow on economic fallacies

This book covers a lot of ground on economics. As I am a beginner on the subject I found this book very interesting. If I had had the printed version I'm not sure I'd have been able to go through the whole thing since it's a long book but the narrator did a fantastic job. Students of economics would find this book useful as well.

The first half of the book is mainly about concepts and explaining how things work on the market. The second half was way my favorite where the author destroys many of the fallacies we hear politicians talking. I wish everyone who votes would hear this book.

Fantastic Economics Primer

This book should be read (or listened to) by every high school senior in the United States, and anyone older who has not yet been exposed to the clear sanity of Thomas Sowell. The country would immediately shift to a more conservative stance, and our reliance on government would be reduced.
Very well written, and read by the narrator, a must buy for any serious follower of politics.

great info!!!

Would you listen to Basic Economics, Fourth Edition again? Why?

yes, a lot of great info. learn a lot about how economic works and see how the government got it wrong and how it effect us.

It just perfect

Where does Basic Economics, Fourth Edition rank among all the audiobooks you’ve listened to so far?

I liked this book!
Great explanations !
Easy reading ! Thanks for this great book Thomas

Get 5th Ed. Thomas Sowell is by far one of the greatest economists of our time

Sowell has well thought out and easy to follow ideas about our economy. He debunks the common myths and fallacies which we hear on a daily basis. This buck and the newer edition are a must listen and read.

Should be recommended reading in high school

Easy to follow along. Excellent examples and clever ways of unpacking analysis. I’ve imagined myself as well inoculated against communist propaganda. But Sowell shattered some remaining assumptions probably remaining from my public education.

A lost story...........

The "story" of economics, sadly, is not part of the basic education fabric in this country. One would think, a country built on a free-enterprise/captialism model would do a better job of informing it's citizens about what all of that means. Mr Sowell does a fine job of unpacking the baggage, talking about each piece along the way in understandable words and anecdotes, for the "interested" reader. What a great refresher or primer, depending on where you are when you pick it up.

A must listen for any registered voter!

The book explains the basics of economics in simple language. The author uses real world examples from multiple eras, nations and economic systems, along with more basic thought experiments from everyday life. He does an excellent job hammering home the basic by using progressively more nuanced real world scenarios.

I usually only listen to sci-fi or fantasy books, but I could not put this down. I'm going to buy the hard copy for my wife who doesn't like audiobooks. It's worth buying twice!

I was a little put off by the aerator at first because I kept thinking, "why is a Pearson's Puppeteer explaining economics?"

A very fact-based and well-researched Book

Thomas Sowell does an excellent job in this book explaining the way the exchange of resources effects the world we live. this was the first book I've ever listened to on economics and I found it to be eye opening. It was fascinating to learn about the exchange of goods would even more fascinating was gaining an understanding of how economic impacts people. After being exposed to this book I had a change of mind. With the facts presented and varying sources that came to similar conclusions, it made it difficult for me to hold onto ideas that didn't really hold water. Economics is so powerful that after gaining a more clear understanding of it, the way I view Life has changed. If you approach this book with an open mind and with a hunger for founded information, I believe you will appreciate its contents.