---
product_id: 231198351
title: "Basic Economics: A Citizen's Guide to the Economy: Revised and Expanded Edition"
brand: "thomas sowellbrian emersonblackstone audio, inc."
price: "Bs.530"
currency: BOB
in_stock: true
reviews_count: 10
url: https://www.desertcart.bo/products/231198351-basic-economics-a-citizens-guide-to-the-economy-revised-expanded
store_origin: BO
region: Bolivia
---

# Basic Economics: A Citizen's Guide to the Economy: Revised and Expanded Edition

**Brand:** thomas sowellbrian emersonblackstone audio, inc.
**Price:** Bs.530
**Availability:** ✅ In Stock

## Quick Answers

- **What is this?** Basic Economics: A Citizen's Guide to the Economy: Revised and Expanded Edition by thomas sowellbrian emersonblackstone audio, inc.
- **How much does it cost?** Bs.530 with free shipping
- **Is it available?** Yes, in stock and ready to ship
- **Where can I buy it?** [www.desertcart.bo](https://www.desertcart.bo/products/231198351-basic-economics-a-citizens-guide-to-the-economy-revised-expanded)

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## Customer Reviews

### ⭐⭐⭐⭐⭐ 5.0 out of 5 stars







  
  
    The Ultimate Scarce Resource
  

*by R***S on Reviewed in the United States on August 18, 2006*

Thomas Sowell is one of the brightest men in the world, but more important than raw intellect, he has a unique capability of making difficult concepts readily grasped by people of all different backgrounds. I like this book because it consciously shrugs off charts, graphs, and equations and gives instead a real-world, example-based overview of basic economic theory.It will come as a shock to no one familiar with Sowell that the book is quite conservative ideologically, though, as one reviewer pointed out, most is just common sense explained more lucidly than usual. The book embraces the classical definition of economics as "the study of the use of scarce resources which have alternative uses" from the outset, and Sowell explains through numerous historical examples, the consequences that flow from that conceptualization.I agree with Sowell on most key issues, though there are a few minor areas where I disagree with him. Both Sowell and I prefer a free market government, but Sowell sees things in such a free-trade light that he overlooks (or at least ignores in the text) needed regulation (licensing for doctors, pilots, etc.) as necessary for the common good of the society as a whole for safety reasons. Likewise he tends to overlook the good in negotiated agreements with groups of workers (largely union but also nonunion) with set scales of seniority and benefits (compensation, vacation accrual, etc.) The time and manpower General Motors or American Airlines would have to exert to manage compensation and status for their legions of employees tends to bog down into an unmanageable morass of intracompany central planning (which Sowell decries in an economy at large.) These critiques are minor nit-picks, though, and do not detract in a significant way from the brilliance of this book.This is an excellent book for anyone wishing to understand economics, and is especially effective at topically dividing free market and centrally planned economies. I have highly recommended this book to many people and will continue to do so. If you thought economics had to be painful, think again: this is an erudite and easily comprehensible text that deserves a place on your bookshelf. Sowell is perhaps the ultimate scarce resource: a man that can explain the theory and practicality of economic theory concisely and interestingly. Brilliant.

### ⭐⭐⭐⭐⭐ 5.0 out of 5 stars







  
  
    Clear, concise, and relevant; a must read for millennials.
  

*by J***. on Reviewed in the United States on August 11, 2021*

The amount of information crammed between the covers of this book will help each reader to develop an accurate perspective of economics... and an understanding that economics is not simply the study of the market; trading of goods, and profit and loss (as at least one such simpleton once thought).  I only wish that I had read this book 20 years ago.  Many of the conclusions I’ve reached in my life through first-person observations, mistakes, and limited understanding, might well have been reached much sooner if I’d read this book years ago.Dr. Sowell helps to clarify the complex topic of economics in a manner that even a moron can understand, and he does so without dumbing down it’s complexity.  Sowell simply defines the subject of economics, presents the many variables which affect economics, and provide examples throughout history which help the reader to truly understand and develop their own processes by which to determine the effects which different actions may have on the economy under a variety of conditions.I was so impressed, that I purchased “Knowledge and Decisions” (also authored by Dr. Sowell) as soon as I finished this book.  By the way... K&D is superb as well; Sowell is brilliant.

### ⭐⭐⭐⭐⭐ 5.0 out of 5 stars







  
  
    Economics based in the real world
  

*by B***S on Reviewed in the United States on September 7, 2004*

Economics, like other fields of inquiry, has its basics and its advanced concepts. However, writers on the subject seem to have a lot of trouble making that distinction.A physicist knows that first you explain the basics - the law of gravity, laws of motion, concepts of weight and mass, and so forth. Then, for those who really need to know, you go on to optics, relativity, quantum mechanics, etc.Unfortunately, most economics texts insist on delving right into the equivalent of quantum mechanics. The result is both soporific and deceptive. It gives the reader the idea that this stuff is really too hard to understand except for "professionals". (I sometimes wonder if they're poor writers, or if they are just trying to set themselves above the masses.)Sowell does the best job I've ever seen of explaining the basics in a lucid, engaging style. We're talking basics of supply and demand, why subsidies cause oversupply, while taxes and controls cause undersupply. Comparitive advantage and why free trade between nations helps both sides overall (though individuals may suffer).I've seen reviews that blast this presentation as "biased". I think such criticism is misplaced. Economics is about what happens under various conditions, and doesn't pretend to make political or moral judgements about the outcome.For example, economics says clearly that having a forced "high-risk" pool for automobile insurance causes distortion in the price of automobile insurance policies - some drivers end up subsidizing those with bad records. That's a simple prediction, akin to saying that if you drop a hammer, it will fall downwards, not hover or rise. It does *not* indicate whether or not such a pool is a good or bad idea. It just lets you know something about the costs of the law, and allows some cost-benefit analysis to see whether it's worth it (perhaps society comes off better because there are fewer uninsured drivers, for example).Where Sowell does become impatient is when advocates of governmental intervention (read: liberals) fail to acknowledge the realities of economics. Many politicians and activists would really rather not look at the economic results of a policy, because it might turn out not to be such a stellar idea after all. Take rent control. By holding prices below market level, basic economics says it will cause supply to run under demand, thereby causing a housing shortage. That's not a moral judgment on rent control - it's just the way the market behaves. It's not being biased to point out that policies have economic costs. It's just reality.If you are ready to gain a decent understanding of the basics, this is the place to get it. If you have an ideological ax to grind concerning how you think the economic world *ought* to work, instead of the way it does work, then you probably won't care much for this book.

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*Product available on Desertcart Bolivia*
*Store origin: BO*
*Last updated: 2026-01-23*