The fourth edition of Basic Economics is both expanded andupdated. A new chapter on the history of economics itself has been added, andthe implications of that history examined. A new section on the special role ofcorporations in the economy has been added to the chapter on government and bigbusiness, among other additions throughout the book.

Basic Economics, which has now been translated into sixlanguages, has grown so much that a large amount of material in the back of thebook in previous editions has now been put online instead, so the book itselfand its price will not have to expand. The central idea of Basic Economics,however, remains the same: that the fundamental facts and principles ofeconomics do not require jargon, graphs, or equations, and can be learned in arelaxed and even enjoyable way.

The Author (Thomas Sowell) is currently the Rose and Milton Friedman Senior Fellowat the Hoover Institute, Stanford University