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I read Sowell's "Economics in One Lesson" and recommend against it. It's basically a libertarian promotional pamphlet. If one wants an economic education, somet

I read Sowell's "Economics in One Lesson" and recommend against it. It's basically a libertarian promotional pamphlet. If one wants an economic education, something like "The Undercover Economist" is much better. edit: oops, I definitely mixed Sowell and Hazlitt up. Leaving this up anyway, so that the replies make sense. Sorry!

jwallaceparker 10y ago
> Sowell's "Economics in One Lesson" "Economics in One Lesson" was written by Henry Hazlitt.
jnordwick 10y ago
Even UC Berkeley, not exactly known as being a libertarian stronghold used Economics in One Lesson when I went there. I wouldn't exactly throw it away just because you don't agree with it.
- nl 10y ago
  I think the parent poster is misremembering. Economics in One Lesson isn't by Thomas Sowell. Not sure it should be characterized as a libertarian textbook either - most would class it as coming from the school of classical economics. http://delong.typepad.com/sdj/2005/04/economics_in_on.html http://delong.typepad.com/sdj/2005/04/economics_in_on.html is worth reading.
  - jnordwick 10y ago
    I can't believe that Delong actually approves (at least partially) of EiOL. I'm shocked! The libertarial, classical, and supply-side ideas can all be very close to each other but often come at them from different directions.
davidf18 10y ago
I strongly recommend "The Undercover Economist" written by Tim Harford, A Financial Times columnist with a BS and MS Economics from Oxford. It is fun to read and focuses on microeconomics (market inefficiencies, market failures). He has a chapter dedicated to the failing economy of Cameroon which he visited and the growing economy of China. https://www.amazon.com/dp/0199926514/ https://www.amazon.com/dp/0199926514/ Harford also as a book on macroeconomics, "The Undercover Economist Strikes Back" https://www.amazon.com/dp/159463291X/ https://www.amazon.com/dp/159463291X/ Harvard Economist Eduard Glaeser is an expert on cities and he will help to explain (as does Harford) that the reason for the high cost of housing in NYC, London, SF, SD, LA, DC, Boston, and other cities is because of "economic rents" which is a market inefficiency that in this case uses politics to create artificial scarcity in housing through zoning density restrictions. These economics rents benefit landlords by transferring wealth from apartment renter to landlord. Glaeser: Build Big Bill: http://www.nydailynews.com/opinion/build-big-bill-article-1.1913739 http://www.nydailynews.com/opinion/build-big-bill-article-1.... Glaeser book: "Triumph of the City" https://www.amazon.com/dp/0143120549/ https://www.amazon.com/dp/0143120549/
tomcam 10y ago
"Economics in One Lesson" is not by Sowell. "Undercover" is an entertaining read. Highly recommended. Has none of the rigor of Sowell's work. Much more highly recommended.

jwallaceparker 10y ago

> Sowell's "Economics in One Lesson" "Economics in One Lesson" was written by Henry Hazlitt.

jnordwick 10y ago

Even UC Berkeley, not exactly known as being a libertarian stronghold used Economics in One Lesson when I went there. I wouldn't exactly throw it away just because you don't agree with it.

nl 10y ago
I think the parent poster is misremembering. Economics in One Lesson isn't by Thomas Sowell. Not sure it should be characterized as a libertarian textbook either - most would class it as coming from the school of classical economics. http://delong.typepad.com/sdj/2005/04/economics_in_on.html http://delong.typepad.com/sdj/2005/04/economics_in_on.html is worth reading.
- jnordwick 10y ago
  I can't believe that Delong actually approves (at least partially) of EiOL. I'm shocked! The libertarial, classical, and supply-side ideas can all be very close to each other but often come at them from different directions.

davidf18 10y ago

I strongly recommend "The Undercover Economist" written by Tim Harford, A Financial Times columnist with a BS and MS Economics from Oxford. It is fun to read and focuses on microeconomics (market inefficiencies, market failures). He has a chapter dedicated to the failing economy of Cameroon which he visited and the growing economy of China. https://www.amazon.com/dp/0199926514/ https://www.amazon.com/dp/0199926514/ Harford also as a book on macroeconomics, "The Undercover Economist Strikes Back" https://www.amazon.com/dp/159463291X/ https://www.amazon.com/dp/159463291X/ Harvard Economist Eduard Glaeser is an expert on cities and he will help to explain (as does Harford) that the reason for the high cost of housing in NYC, London, SF, SD, LA, DC, Boston, and other cities is because of "economic rents" which is a market inefficiency that in this case uses politics to create artificial scarcity in housing through zoning density restrictions. These economics rents benefit landlords by transferring wealth from apartment renter to landlord. Glaeser: Build Big Bill: http://www.nydailynews.com/opinion/build-big-bill-article-1.1913739 http://www.nydailynews.com/opinion/build-big-bill-article-1.... Glaeser book: "Triumph of the City" https://www.amazon.com/dp/0143120549/ https://www.amazon.com/dp/0143120549/

tomcam 10y ago

"Economics in One Lesson" is not by Sowell. "Undercover" is an entertaining read. Highly recommended. Has none of the rigor of Sowell's work. Much more highly recommended.