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Economics

March 23, 2016 | Author: | Posted in history, native-american studies

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Book Review on Basic Economics by T . Sowell

27 Sept 2006

The Book written by Thomas Sowell entitled Basic Economics , is intimidating as it is intriguing . This was according to an author who wrote a book review and published it online in his personal webpage Pete Storz described the book as reader friendly intended for general reading . He furthered that Basic Economics presents a very interesting and practical balance of principles and illustrations (Storz . 2005 While it is true that the author ‘s [banner_entry_middle]

original intention of defining what Economics is all about has been clearly addressed and advanced even in the early chapters of the book , the revelations and practicality of every example cited by the author in the book examines the existing reality . Reading this book gives us a view of the daily applications of Economics together with its evolution enfolding before us , without even realizing that these was happening . It makes us aware of the things we don ‘t normally see in the activities happening around us . Most of the academic books I ‘ve read got me through only halfway in one sitting , but with this book , I found myself flipping each page without the anticipation of boredom from the time I was seated . Each was enlightening as if flipping through the pages of an autobiography of an inspiring person . There was a strange familiarity in the author ‘s manner of presenting instances that expounds his theory giving the aura like I was there at that time it happened . This book consists of seven s clearly discussed , they are : 1 . Prices and Markets 2 Industry and Commerce 3 . Work and Pay 4 .Time and Risk 5 . The National Economy 6 The International Economy and finally the seventh section , The Special Economic Issues . Each section is simplified and dissected into its basic essence , giving its readers less difficulty in understanding what the intends to purport . This book begins with a discussion of how Economics and the comprehension of the word , evolved into a well applied notion . This is thoroughly backed with an illustration pointed out in the succeeding as discussed in the section entitled , Industry and Commerce which substantiates the ground whereby the life of a business revolves upon (Riley . 2006 . Such section elaborates the framework whereby a business operates , its driving force , its core and nature , as well as its external factors that is responsible of its viability and longevity . These are the clearly highlighted in the various situations pointed out , that exists to be true in a business (Riley . 2006 . From the management styles , to trends in corporate organizations and marketing skills , from product oriented into consumer oriented . All these exist even until now , as these are the very backbone of economics being the strategy that makes a simple Idea materialize

What I admire in this book , is the reality that it presents . It points me into a direction of keeping a keen watch of everything , to… [banner_entry_footer]

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