If the average person understood economics as well as the economists 200 years ago, most of the nonsense that is done in Washington would be impossible politically.
An excellent starting point for any “average person” to easily understand economics is Sowell’s primer, Basic Economics: A Common Sense Guide to the Economy, which has just been newly released in its expanded and revised fourth edition.
The book contains no charts or graphs; there’s no daunting math to intimidate the numerically challenged. Quite a feat for an economics book, but if anyone can pull it off, it’s Thomas Sowell. Just as with his weekly columns, he writes so plainly, simply and compellingly that readers are just stunned that they didn’t know all of this before.
Sowell is a national treasure for his clear thinking and application of economics to the modern problems of our society.
For these reasons, the inaugural Prudence Prize for Best Book of the Week goes to Thomas Sowell and his classic Basic Economics. Buy one for yourself, and one for your liberal friend.
If you are a Sowell fan, you may also be interested in a t-shirt honoring him.