In his section on "Popular Economic Fallacies," Sowell takes on the straw man of homo oeconomicus: The main problem Austrians will have with this book is indicated by my phrase, "as he understands it." Sowell's approach to economics could probably best be described as "semi-Austrian." On the positive side, Sowell's handling of some topics is excellent. While I would prefer to review sections myself if I need to, rather than have the author decide for me what I need to review, I realize that others may prefer this repetitive style. For example, every third or fourth chapter is an overview of the previous two or three, so that well over a quarter of the chapters are just reviews of the other chapters! Sowell obviously considers this style a useful aid to learning. Stylistically, the one complaint I have about this book, which applies to some of his earlier works as well (e.g., Conquests and Cultures), is a tendency toward repetition. He is skilled at finding numerous, real-world examples to illustrate the theoretical ideas he presents, something that I feel is crucial to reaching a lay audience, but too often is neglected. Sowell writes with clarity, and he does an excellent job of explaining economics, as he understands it, to the non-economist. Sowell's book is, as the title implies, targeted toward the general public.
The prospect of saving thirty dollars eased my fears and pushed my scruples to the side. And if I agreed to review it, I could get a free copy.
If I disliked Sowell's work and trashed it, would it be seen as an underhanded attempt to sabotage a competitor? Or if I loved it, would I have to conclude that my own book was superfluous? Still, I wanted to read Basic Economics, as checking out the competition is an important part of a writer's work.
After all, I'm working on an economics book for laymen myself. When I took on the review of this book, I did so with some trepidation.
Basic Economics: A Citizen's Guide to the Economy
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