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"Basic Economics" by Thomas Sowell. Helped me gain a more intuitive understanding of economics. On a side note, the man is a machine. He's been writing close to

"Basic Economics" by Thomas Sowell. Helped me gain a more intuitive understanding of economics. On a side note, the man is a machine. He's been writing close to a book a year since the age of 80 (he's 92 now).

vavooom 4y ago
Incredible summarization on the topic. Chewed through this during Covid and gave me a new appreciation for the high-level implementations of economic concepts in society. Second-order thinking is a crucial skill in economics, and Sowell makes it clear that incentives drive everything. Most notably, incentives must actually encourage behavior that they were designed to implement, not 'promise' they will, something government and politicians fail to grasp even today (e.g. rent control, stimulus, etc.)
luuuzeta 4y ago
I've read the book partially (which reminds me I need to pick it up and finish it) and it's amazing yet frightening to realize how naive I am when it comes to economics. I like his arguments about how politicians use people's naivety and ignorance to peddle policies that aren't possible if we're to believe that economics is about "scarce resources with alternative uses". In my book, Sowell is a national treasure.
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racl101 4y ago
That guy is amazing.
keepquestioning 4y ago
I started to read this book but it seems to be full of political bile. How does it compare to Economics in One Lesson?
- WillPostForFood 4y ago
  Can you give an example of "political bile"? Sowell is an incredibly even-keeled writer, and I'm surprised someone would find the book angry (or political, other than believing in traditional economics).
  - rednerrus 4y ago
    "Political Bile" = things I don't agree with.
    - datavirtue 4y ago
      - SantalBlush 4y ago
        Jesus, the constant martyrdom being spewed on this site is nauseating. Sowell isn't tucked away; the book under discussion is famous and known by pretty much all economists in the US.
    - yamtaddle 4y ago
      I dunno—another if-anything-even-more-right-wing economist seems to be the poster's point of comparison, so I too am curious what rubbed them the wrong way about Sowell. I certainly get a right-wing tone from the preface and first few pages of this book—I'm hoping later chapters will moderate the "if you're not maximizing economic utility you're definitely screwing up and must just be too stupid to realize it because there can't possibly be a good reason" subtext, and it just seems so strong at the beginning because he's trying to present the very-basics without nuance at this point, but I can't see that striking a Hazlitt fan as anything but a point in its favor.
  - RockyMcNuts 4y ago
    he seems to have a lot of antagonistic partisan talking points https://www.brainyquote.com/search_results?q=thomas+sowell https://www.brainyquote.com/search_results?q=thomas+sowell
ghastmaster 4y ago
His book "Race and Culture: A World View" was an eye opener. After being very politically naïve for many years, my reading of this book changed how I view economic, regulatory, and political consequences.
datavirtue 4y ago
While slogging through an economics course in college I was frustrated that there were not teaching me anything. Then I discovered Sowell and Friedman and started watching every video I could find. Such a relief. I just did what they wanted me to do for the rest of the economics courses but basically just ignored it all. No one in academia or the media wants to hear what Sowell and Friedman have to say. I should have been made aware of these guys and been assigned books and videos from them on day one.
- kylestlb 4y ago
  I majored in econ. Friedman is as mainstream as it gets. Not sure why your econ courses ignored the guy. He made quite a few appearances in my 200 and 300 level courses.
  - reducesuffering 4y ago
    Yep, even Fed Chair Bernanke was lauding him: "I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again." https://www.federalreserve.gov/boarddocs/speeches/2002/20021108/ https://www.federalreserve.gov/boarddocs/speeches/2002/20021...
    - petrusnonius 4y ago
      They did it again
rramadass 4y ago
Economics: The User's Guide by Ha-Joon Chang is a must read for everybody who wants to get started in this subject.
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deterministic 4y ago
I recommend reading everything by Thomas Sowell. A true original thinker.

vavooom 4y ago

Incredible summarization on the topic. Chewed through this during Covid and gave me a new appreciation for the high-level implementations of economic concepts in society. Second-order thinking is a crucial skill in economics, and Sowell makes it clear that incentives drive everything. Most notably, incentives must actually encourage behavior that they were designed to implement, not 'promise' they will, something government and politicians fail to grasp even today (e.g. rent control, stimulus, etc.)

luuuzeta 4y ago

I've read the book partially (which reminds me I need to pick it up and finish it) and it's amazing yet frightening to realize how naive I am when it comes to economics. I like his arguments about how politicians use people's naivety and ignorance to peddle policies that aren't possible if we're to believe that economics is about "scarce resources with alternative uses". In my book, Sowell is a national treasure.

deleted 4y ago

[deleted]

racl101 4y ago

That guy is amazing.

keepquestioning 4y ago

I started to read this book but it seems to be full of political bile. How does it compare to Economics in One Lesson?

WillPostForFood 4y ago
Can you give an example of "political bile"? Sowell is an incredibly even-keeled writer, and I'm surprised someone would find the book angry (or political, other than believing in traditional economics).
- rednerrus 4y ago
  "Political Bile" = things I don't agree with.
  - datavirtue 4y ago
    - SantalBlush 4y ago
      Jesus, the constant martyrdom being spewed on this site is nauseating. Sowell isn't tucked away; the book under discussion is famous and known by pretty much all economists in the US.
  - yamtaddle 4y ago
    I dunno—another if-anything-even-more-right-wing economist seems to be the poster's point of comparison, so I too am curious what rubbed them the wrong way about Sowell. I certainly get a right-wing tone from the preface and first few pages of this book—I'm hoping later chapters will moderate the "if you're not maximizing economic utility you're definitely screwing up and must just be too stupid to realize it because there can't possibly be a good reason" subtext, and it just seems so strong at the beginning because he's trying to present the very-basics without nuance at this point, but I can't see that striking a Hazlitt fan as anything but a point in its favor.
- RockyMcNuts 4y ago
  he seems to have a lot of antagonistic partisan talking points https://www.brainyquote.com/search_results?q=thomas+sowell https://www.brainyquote.com/search_results?q=thomas+sowell

ghastmaster 4y ago

His book "Race and Culture: A World View" was an eye opener. After being very politically naïve for many years, my reading of this book changed how I view economic, regulatory, and political consequences.

datavirtue 4y ago

While slogging through an economics course in college I was frustrated that there were not teaching me anything. Then I discovered Sowell and Friedman and started watching every video I could find. Such a relief. I just did what they wanted me to do for the rest of the economics courses but basically just ignored it all. No one in academia or the media wants to hear what Sowell and Friedman have to say. I should have been made aware of these guys and been assigned books and videos from them on day one.

kylestlb 4y ago
I majored in econ. Friedman is as mainstream as it gets. Not sure why your econ courses ignored the guy. He made quite a few appearances in my 200 and 300 level courses.
- reducesuffering 4y ago
  Yep, even Fed Chair Bernanke was lauding him: "I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again." https://www.federalreserve.gov/boarddocs/speeches/2002/20021108/ https://www.federalreserve.gov/boarddocs/speeches/2002/20021...
  - petrusnonius 4y ago
    They did it again

rramadass 4y ago

Economics: The User's Guide by Ha-Joon Chang is a must read for everybody who wants to get started in this subject.

deleted 4y ago

[deleted]

deterministic 4y ago

I recommend reading everything by Thomas Sowell. A true original thinker.