Friday, April 23, 2010

#9 - Basic Economics by Thomas Sowell

Now I'm sure that a nice thick book on economics is about as exciting to most of you as a root canal. But for some strange reason, I've always had an interest in economics. In college, I took an intro to economics course which was quite enjoyable to me. So I'm a bit of a weirdo. But this book, really should be a must read for all voting adults in the US though I know most people won't ever read it.

Sowell explains how a free market works in everyday language. No charts, no math, no formulas, just common sense explanations for how the world works. It was really eye opening for me. He explains how rent control and wage minimums though well intentioned, actually create higher rent and fewer jobs - hurting the poor those laws are supposed to help.

He is an advocate for less government intrusion and explains why a free market helps everyone in the long term. He shows how lower tax rates typically create more tax revenue rather than vice versa. There is so much more that is both interesting and informative. But at 500+ pages, it is a lot. However, if you have any interest in politics, this is a must read.

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