Common Sense Economics: What Everyone Should Know About Wealth and Prosperity

St. Martin’s. 4th ed. Jul. 2024. 272p. ISBN 9781250292629. $30. ECON
Veteran economists Gwartney (emeritus, Florida State Univ.), Dwight R. Lee (Ball State Univ.), Tawni Hunt Ferrarini (Lindenwood Univ.), Joseph P. Calhoun (Florida State Univ.), and Jane Shaw Stroup (James G. Martin Ctr. for Academic Renewal) update their classic text on economics. This edition discusses the effects of the COVID pandemic on the global economy and the workplace, provides insights into the recent rise in inflation, and explains how knowledge of economics can improve personal lives. The authors also include ideas they received from some of the thousands of students who have taken their economics classes over the years. The main sections cover seven significant sources of progress, 10 critical components of the economics of government, and 12 key elements of practical personal finance.
VERDICT This reader-friendly work concisely explains vital economic principles. The section on personal finance should be required reading for everyone. The superb electronic supplemental material package can be used to structure any introduction to economics course, and this work nicely supplements the fifth edition of Thomas Sowell’s Basic Economics. Highly recommended for public libraries and all high school and university economics instructors.
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