Basic Economics by Dr. Thomas Sowell

So many people talking so much bogus crap about why prices/wages/job availability/etc. are the way they are in this city or that country... you can tell they just never learned the fundamentals, and that all they have ever read was one or two Marxist critiques (probably in some first year Sociology class) without ever learning the basics of how things like prices actually work. So much good could be done if more people just read a book like Sowell's here.

An excellent book, I need to start applying some of the knowledge I've been garnering over these past few years, good point you made at the start 🙏🏽

Sowell is a personal hero, I wish more people new about him and read his work

Thomas Sowell....one of the last propagandists in economics. 😂

If you want an education in economics you should....study it. Or you can start reading from Adam Smith's The Wealth of Nations to reading Karl Marx's Capital. Might as well look up Mutualism.

Thomas Sowell got you one more subscriber

FYI, if anyone has a homeschooling high schooler, Memoria Press’ online school ( called Memoria Academy Online or MAO) uses “Basic Economics” by Thomas Sowell as one of their 2 main texts for their half credit Economics class.

Great video

I see the Manly P. Hall back there, solid library bro. Peace

Ive read many Thomas Sowell books. He really changed the way I look at the world, especially on social issues like race.

I have read tons of economics books. Thats what i specialize in. I respect that you read to continue your knowledge. I know this was uploaded a while ago but you struggled explaining prices and profits/loss system. Prices are essential to know where resources will be allocated. What consumers want. Where investors should invest. What material entrepreneurs need to use. Prices are like road maps. Tell someone to go to some random walmart in another state with no GPS, no map, no street signs or anything.
The profits and loss system is crucial to see which businesses should survive and which businesses shouldnt. When a business profits, it means theyre doing good by society. They have a good or service people desire. They have good business practices. This means the consumer wants them to stay around and the business is using labor/resources correctly. The loss portion tells the economy that their good/service is not welcome. Its not satisfying consumer demand. It needs to be tossed out of the economy. Or the owner is missuing resources and labor. Once theyre out from the market that frees up resources so someone else can do right with it. The free market is self regulating like you mentioned.

There are many good economics books out there if you want to learn more about the most interesting subject out there(my opinion of course haha).
Economics in one lesson by henry hazlitt
The politically incorrect guide to capitalism by Robert Murphy
The politically incorrect guide to economics Thomas Dilorenzo
Free to choose by Milton Friedman
Freakanomics by Steven Levitt
The armchair economist by Steven Landsburg
The Machinery of Freedom by David Friedman
For a New Liberty by Murray Rothbard
The market for Liberty by Linda and Morris Tannehil
How an economy grows and why it crashes by Peter schiff
Meltdown by Tom Woods
So many more. Way too many to list.