The bestselling citizen's guide to economicsBasic Economics is a citizen's guide to economics, written for those who want to understand how the economy works but have no interest in jargon or equations. Bestselling economist Thomas Sowell explains the general principles underlying different economic systems: capitalist, socialist, feudal, and so on. In readable language, he 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.This fifth edition includes a new chapter explaining the reasons for large differences of wealth and income between nations.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.

This title offers a withering and clear-eyed critique about (but not for) intellectuals that explores their impact on public opinion, policy, and society at large. It has not been by shaping the opinions or directing the actions of the holders of power that modern intellectuals have most influenced the course of events, but by shaping public opinion in ways that affect the actions of power holders in democratic societies, whether or not those power holders accept the general vision or the particular policies favored by intellectuals. In "Intellectuals and Society", Thomas Sowell not only examines the track record of intellectuals in the things they have advocated but also analyzes the incentives and constraints under which their views and visions have emerged. Ultimately, he shows how often intellectuals have been proved not only wrong, but grossly and disastrously wrong in their prescriptions for the ills of society.

A Leading Conservative Intellectual Defends Charter Schools Against The Teachers' Unions, Politicians, And Liberal Educators Who Threaten To Dismantle Their Success. The Black-white Educational Achievement Gap -- So Much Discussed For So Many Years -- Has Already Been Closed By Black Students Attending New York City's Charter Schools. This Might Be Expected To Be Welcome News. But It Has Been Very Unwelcome News In Traditional Public Schools Whose Students Are Transferring To Charter Schools. A Backlash Against Charter Schools Has Been Led By Teachers Unions, Politicians And Others -- Not Only In New York But Across The Country. If Those Attacks Succeed, The Biggest Losers Will Be Minority Youngsters For Whom A Quality Education Is Their Biggest Chance For A Better Life.

An enlarged edition of Thomas Sowell's brilliant examination of the origins of economic disparitiesEconomic and other outcomes differ vastly among individuals, groups, and nations. Many explanations have been offered for the differences. Some believe that those with less fortunate outcomes are victims of genetics. Others believe that those who are less fortunate are victims of the more fortunate.Discrimination and Disparities gathers a wide array of empirical evidence to challenge the idea that different economic outcomes can be explained by any one factor, be it discrimination, exploitation, or genetics. This revised and enlarged edition also analyzes the human consequences of the prevailing social vision of these disparities and the policies based on that vision--from educational disasters to widespread crime and violence.

Economic And Other Outcomes Differ Vastly Among Individuals, Groups, And Nations. Many Explanations Have Been Offered For The Differences. Some Believe That Those With Less Fortunate Outcomes Are Victims Of Genetics. Others Believe That Those Who Are Less Fortunate Are Victims Of The More Fortunate. [this Book Examines A] Wide Array Of Empirical Evidence ... To Challenge The Idea That Different Economic Outcomes Can Be Explained By Any One Factor, Be It Discrimination, Exploitation, Or Genetics--amazon.com. Thomas Sowell. Includes Bibliographical References And Index.

The influence of intellectuals is not only greater than in previous eras but also takes a very different form from that envisioned by those like Machiavelli and others who have wanted to directly influence rulers. It has not been by shaping the opinions or directing the actions of the holders of power that modern intellectuals have most influenced the course of events, but by shaping public opinion in ways that affect the actions of power holders in democratic societies, whether or not those power holders accept the general vision or the particular policies favored by intellectuals. Even government leaders with disdain or contempt for intellectuals have had to bend to the climate of opinion shaped by those intellectuals. Intellectuals and Society not only examines the track record of intellectuals in the things they have advocated but also analyzes the incentives and constraints under which their views and visions have emerged. One of the most surprising aspects of this study is how often intellectuals have been proved not only wrong, but grossly and disastrously wrong in their prescriptions for the ills of society—and how little their views have changed in response to empirical evidence of the disasters entailed by those views.

From one of America’s most distinguished economists, a short, brilliant, and revelatory book: the fundamental ideas people most commonly get wrong about economics, and how to think about the subject better Publishers Weekly The heart of the matter for Thomas Sowell (Basic Economics) is to ask, "What are the facts?" In his latest book, economist Sowell examines numerous misconceptions about life and economics. Sowell writes like an exacting scholar, but his arguments, which rely on economic analyses primarily, may suffer from oversimplification. Sowell argues that zoning restrictions and rent-control policies hurt those whom they're meant to help; intones that women earn less than men because they are far less likely than men to choose occupations that require very long hours; believes tenure helps neither students nor professors; demonstrates that even the poor have successfully moved up economically; tackles fallacies about race in America; and aims to convince that "there is nothing baffling or morally wrong about the fact that different nations have different per capita incomes." He falters in his chapter on the academy, when he becomes an advocate rather than an observer, and oddly neglects the individual choice available to students. Sowell's purpose is to teach readers to "examine [their] beliefs more closely and more analytically," and the conclusions he draws are certain to inspire rigorous debate. This readable volume is a useful primer exposing how economics relates to the social issues that affect our country. (Jan.)Copyright 2007 Reed Business Information

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. A new section on the special role of corporations in the economy has been added to the chapter on government and big business, among other additions throughout the book. Basic Economics, which has now been translated into six languages, has grown so much that a large amount of material in the back of the book in previous editions has now been put online instead, so the book itself and its price will not have to expand. The central idea of Basic Economics, however, remains the same: 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.

Intellect And Intellectuals -- Knowledge And Notions -- Intellectuals And Economics -- Intellectuals And Social Visions -- Optional Reality In The Media And Academia -- Intellectuals And The Law -- Intellectuals And War -- Intellectuals And War : Repeating History -- Intellectuals And Society. Thomas Sowell. Includes Bibliographical References (p. 319-376) And Index.

Explains How We Got Into The Current Economic Disaster That Developed Out Of The Economics And Politics Of The Housing Boom And Bust. The Creative Financing Of Home Mortgages And Creative Marketing Of Financial Securities Based On These Mortgages To Countries Around The World, Are Part Of The Story Of How A Financial House Of Cards Was Built Up--and Then Collapsed. The Economics Of The Housing Boom -- The Politics Of The Housing Boom -- The Housing Bust -- Housing Mystiques And Housing Mistakes -- The Past And The Future. Thomas Sowell. Includes Bibliographical References (p. 185-225) And Index.

This revised edition of Applied Economics is about fifty percent larger than the first edition. It now includes a chapter on the economics of immigration and new sections of other chapters on such topics as the “creative” financing of home-buying that led to the current “subprime” mortgage crisis, the economics of organ transplants, and the political and economic incentives that lead to money earmarked for highways being diverted to mass transit and to a general neglect of infrastructure. On these and other topics, its examples are drawn from around the world. Much material in the first edition has been updated and supplemented. The revised and enlarged edition of Applied Economics retains the easy readability of the first edition, even for people with no prior knowledge of economics.

The Power Of Fallacies -- Urban Facts And Fallacies -- Male-female Facts And Fallacies -- Academic Facts And Fallacies -- Income Facts And Fallacies -- Racial Facts And Fallacies -- Third World Facts And Fallacies -- Parting Thoughts. Thomas Sowell. Includes Bibliographical References (p. 223-247) And Index.

Thomas Sowell’s “extraordinary” explication of the competing visions of human nature lie at the heart of our political conflicts (New York Times)Controversies in politics arise from many sources, but the conflicts that endure for generations or centuries show a remarkably consistent pattern. In this classic work, Thomas Sowell analyzes this pattern. He describes the two competing visions that shape our debates about the nature of reason, justice, equality, and power: the "constrained" vision, which sees human nature as unchanging and selfish, and the "unconstrained" vision, in which human nature is malleable and perfectible. A Conflict of Visions offers a convincing case that ethical and policy disputes circle around the disparity between both outlooks.

What Is Economics? -- Pt. I. Prices And Markets. The Role Of Prices ; Price Controls ; An Overview --pt. Ii. Industry And Commerce. The Rise And Fall Of Businesses ; The Role Of Profits--and Losses ; Big Business And Government ; An Overview -- Pt. Iii. Work And Pay. Productivity And Pay ; Controlled Labor Markets ; An Overview -- Pt. Iv. Time And Risk. Investment And Speculation ; Risks And Insurance ; An Overview -- Pt. V. The National Economy. National Output ; Money And The Banking System ; Government Functions; Government Finance; An Overview -- Pt. Vi. The International Economy. International Trade ; International Transfers Of Wealth ; An Overview-- Pt. Vii. Special Economic Issues. Myths About Markets; Non-economic Values ; Parting Thoughts. Thomas Sowell. Includes Bibliographical References (p. 569-613) And Index.

These selections from the many writings of Thomas Sowell over a period of a half century cover social, economic, cultural, legal, educational, and political issues. The sources range from Dr. Sowell’s letters, books, newspaper columns, and articles in both scholarly journals and popular magazines. The topics range from late-talking children to 'tax cuts for the rich,' baseball, race, war, the role of judges, medical care, and the rhetoric of politicians. These topics are dealt with by sometimes drawing on history, sometimes drawing on economics, and sometimes drawing on a sense of humor.

These Wide-ranging Essays--on Many Individual Political, Economic, Cultural And Legal Issues--have As A Recurring Underlying Theme The Decline Of The Values And Institutions That Have Sustained And Advanced American Society For More Than Two Centuries...whether These Essays (originally Published As Syndicated Newspaper Columns) Are Individually About Financial Bailouts, Illegal Immigrants, Gay Marriage, National Security, Or The Duke University Rape Case, The Underlying Concern Is About What These Very Different Kinds Of Things Say About The General Direction Of American Society...--dust Jacket Flap. Government Policies --political Issues -- Economic Issues -- Cultural Issues -- Legal Issues -- Random Thoughts. By Thomas Sowell.

I. The Culture Wars : Ever Wonder Why? -- Animal Rites -- Us Or Them -- Twisted History -- Explaining To The Grandkids -- Human Livestock -- The Wright Stuff -- The Legacy Of Eric Hoeffer -- One-uppers Versus Survival -- The Equality Dogma -- The Inequality Dogma -- Equality, Inequality, And Fate -- Hiroshima -- The Tyranny If Visions -- The Tyranny Of Visions: Part Ii -- The Tyranny Of Visions: Part Iii -- The Immigration Taboo -- The Left Monopoly -- I Beg To Disagree -- 4th Estate Or 5th Column? -- Ii. Economic Issues : Why Economists Are Not Popular -- Housing Hurdles -- The Cost Of Medical Care -- Subsidies Are All Wet -- A Taxing Experience -- Profits Without Honor -- Profits Without Honor: Part Ii -- Two Earthquakes -- Peter Bauer (1915-2002) -- Journalists And Economics -- Stock Crash Aftermath -- Milton Friedman At 90 -- Price Gouging In Florida -- Economic Power -- A Relic Of The Recent Past -- Who Can Afford It? -- Free-lunch Medicine -- Free-lunch Medicine: Part Ii -- Free-lunch Medicine: Part Iii -- Manufacturing Confusion -- A Cold Shower -- An Old New Vision -- Third World Sweatshops -- Third World Sweatshops: Part Ii -- Privatizing Social Security -- Privatizing Social Security: Part Ii -- Living Wage Kills Jobs -- A Happy Birthday? -- Iii. Legal Issues : Calculated Confusion -- Judges And Judgment -- Justice For Little Angelo -- Property Rites -- Property Rites: Part Ii -- Property Rites: Part Iii -- Foreign Law Is Not Law -- Medical Lawsuits -- Fixing The Jury System -- Half A Century After Brown -- Half A Century After Brown: Part Ii -- Half A Century After Brown: Part Iii -- Umpires, Judges, And Others Big Business And Quotas -- The Grand Fraud -- The Grand Fraud: Part Ii -- The Grand Fraud: Part Iii -- The Grand Fraud: Part Iv -- Saving Quotas -- The High Cost Of Nuances -- The Polio Fallacy -- Iv. Political Issues : Spoiled Brat Politics -- Spoiled Brat Politics: Part Ii -- The Compassion Racket -- Ronald Reagan (1911-2004) -- Gun Control Myths -- Gun Control Myths: Part Ii -- A Painful Anniversary -- The High Cost Of Shibboleths -- Why Do They Hate Us? -- Foreign Allies -- My Platform -- The Oldest Fraud -- The Left's Vision -- The Left's Vocabulary -- Abstract People -- Looking Back -- V. Social Issues : Mealy Mouth Media -- Achievements And Their Causes -- Talkers Versus Doers -- Talkers Versus Doers: Part Ii -- Liberals And Class -- Liberals And Class: Part Ii -- Liberals And Class: Part Iii -- The Autism Spectrum -- The High Cost Of Busybodies -- The High Cost Of Busybodies: Part Ii -- The High Cost Of Busybodies: Part Iii -- The High Cost Of Busybodies: Part Iv -- Partial Truth Abortion -- Lying About Yosemite -- Growing Old -- April Fool's Party -- Vi. Education Issues : Choosing A College -- The Idiocy Of Relevance -- Julian Stanley And Bright Children -- For What Purpose? -- School Performances -- School Performances: Part Ii School Performances: Part Iii -- College Admissions Voodoo -- Summer De-programming -- Fat In California's Budget -- A Scary Report -- Teaching To The Test -- Teaching To The Test: Part Ii -- Teaching To The Test: Part Iii -- Smart Problems -- Vouchers Vindicated -- Artificial Stupidity -- Good Teachers -- A Sign Of The Times -- Suspicious Stats -- Peers And Pied Pipers -- Vii. Racial Issues : Older Budweiser -- Rosa Parks And History -- Friends Of Blacks -- Friends Of Blacks: Part Ii -- Recycled Racism -- Dangerous Democracy? -- Are Cops Racist? -- Rattling The Chains -- Roasting Walter Williams -- Diversity In India -- Race And Iq -- Race And Iq: Part Ii -- Race And Iq: Part Iii -- An Old War And A New One -- Silly Letters -- Black History Month -- Bravo For Bill Cosby -- Quota Logic -- Quota Logic: Part Ii -- Viii. Random Thoughts : Random Thoughts. Thomas Sowell.

This essay unscrambles gross misconceptions that have made rational debates about tax policies virtually impossible for decades.