The book by Thomas Sowell called “Economics Today” has been out for over ten years and is one of the most popular and influential books in the entire country. In the first three chapters, he addresses the basic economic basics that every individual should know. If you want to know about the market economy, economic history, how to handle your money, etc., this is the book for you.
The next chapters deal with the economic history of America and what it is like today. There are chapters that deal with the American economy's growth in the industrial age, the Great Depression, the rise and fall of the New Deal, the rise and fall of the World War II generation, the Reagan revolution, the present and future of our economy, how the global economy affects the United States, the current trends in the international economy, the global economy and many other aspects. These chapters all make up Economics Today. There are even chapters dealing with other countries and the economic policies they use.
After dealing with the macro view of economics, the micro view deals specifically with the financial crisis in the United States during the late eighties and early nineties. There is also a brief section discussing the current economic policy of President Bush and how he plans on dealing with it.
After dealing with the micro view, there is a short chapter that discusses foreign economics and the economics of various countries around the world. There are chapters that discuss the political and social situations of many countries around the world and there is also a section dealing with international trade and its effects on the United States.
Another chapter focuses on government spending and its effect on the economy. Finally, there are chapters that focus on education and other social services, government spending programs, and the various laws and regulations that govern these.
It is interesting to see how Thomas Sowell's view differs from others as he believes that all economic theories have their own unique way of thinking and that they should be analyzed and tested. He even goes as far as to state that each and every theory should be tested in the field of economics and then the results should be compared to the theories that have already been examined.
In addition, Thomas Sowell also takes note of the economic philosophies of all the previous generations, including both left and right-leaning views. In fact, the only time he deviates from his own macro view is when he mentions socialism and liberalism, which he sees as two different ideologies that are not very viable in our modern day economy.
Overall, economics Today is an excellent book that provides a concise and easy to understand look over overview of economic issues and how they affect the world today. Whether you are interested in learning about the macro view of economics or the micro view of economics, this book will provide an understanding that is essential for any student of economics.