Thomas Sowell -- Basic Economics
2,227,221
Published 2011-01-06
Thomas Sowell has studied and taught economics, intellectual history, and social policy at institutions that include Cornell University, UCLA, and Amherst College. Now a senior fellow at the Hoover Institution, Sowell has published more than a dozen books, the latest of which is a revised and updated edition of his classic volume, Basic Economics.
"Through its various editions," Sowell writes, "the fundamental idea behind Basic Economics remains the same: Learning economics should be as uncomplicated as it is informative." Here, Sowell seeks to uncomplicate some of the economic issues confronting the country today, from the financial crisis and the role of the Fed to the economics of health care and trade imbalances.
All Comments (21)
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"Wealth is created when the conditions are such that the people who know how to create it are free to do so"
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Regardless of your political affiliation, how is it possible to dislike Thomas Sowell?
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This guy would dismantle Bernie Sanders
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Thomas Sowell is an America treasure. Thank you, sir.
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"A surplus is when the government has so much money, congress can't spend it all." Way too accurate😂
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"There are no new ideas. Just proposals by Milton Friedman that haven't been enacted yet." Well said.
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The fact that schools don't teach this stuff just shows their agenda
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Kinda sounds stoopid but knowing there are people like tom Sowell in the world helps me sleep at night. I often drift off to his soothing baritone
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I bought this man's book called "Basic Economics," and it blew me away. I highly recommend reading it or buying the audio book.
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Concerning the Federal Reserve—“When someone removes a cancer, what do you replace it with?” Brilliant answer.
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This is timeless intellectual advice! I am watching this on June 1, 2020, while the country is reopening from the COVID-19 shutdowns and being re-shutdown by the George Floyd riots! Thank you, Dr. Sowell!
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Thomas Sowell for President. He's far too great a man to accept such a bid, and that's so much a reason why he should be it. He's the best thinker in contemporary America. Full stop
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A leader is best when people barely know he exists, when his work is done, his aim fulfilled, they will say: we did it ourselves. Lao Tzu
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The sheer amount of historical knowledge this man not only has but can recite is simply astounding.
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Good interviewer, modest and humble, proper interview etiquette
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This man is a genius! We are so blessed to have the opportunity to listen to him.
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1:55 Wealth is created when people are free to create it. Laissez-Faire 2:30 What went wrong? 7:16 Quantitative Easing 8:07 Monetizing the debt. Inflation Tax 9:15 What is Bernanke thinking? 10:50 Tax Rates matter to growth 11:39 Increase in Tax Revenue 12:12 Explain Clinton Tax Revenue 14:27 US Medical Care 15:35 Milton Friedman says it’s untenable 16:49 Private Room vs Ward 17:23 Politicians face incentives. 18:35 Chris Christie 18:50 Trade and China 20:30 Smoot-Hawley Tariff was a disaster 22:17 Boris Yeltzin 23:57 China 24:28 The Dollar 💵 . The Euro 💶 25:36 Do you share Ron Paul’s skepticism of The Fed? 28:09 2 brief downturns. Economy takes off. 29:23 Bank Bailouts? Keynesian Economics? Keynes tools are better than his prescription 31:58 Average citizen needs to know Economi
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"When you remove a cancer what do you replace it with?"
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Should be taught in High School
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Thomas Sowell for president
