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The bestselling citizen's guide to economics Basic Economics is a citizen's guide to economics, written for those who want to understand how the economy works but have no interest in jargon or equations. Bestselling economist Thomas Sowell explains the general principles underlying different economic systems: capitalist, socialist, feudal, and so on. In readable language, he shows how to critique economic policies in terms of the incentives they create, rather than the goals they proclaim. With clear explanations of the entire field, from rent control and the rise and fall of businesses to the international balance of payments, this is the first book for anyone who wishes to understand how the economy functions. This fifth edition includes a new chapter explaining the reasons for large differences of wealth and income between nations. Drawing on lively examples from around the world and from centuries of history, Sowell explains basic economic principles for the general public in plain English.

Despite great progress around the world in getting more kids into schools, too many leave without even the most basic skills. In India’s rural Andhra Pradesh, for instance, only about one in twenty children in fifth grade can perform basic arithmetic. The problem is that schooling is not the same as learning. In The Rebirth of Education, Lant Pritchett uses two metaphors from nature to explain why. The first draws on Ori Brafman and Rod Beckstrom’s book about the difference between centralized and decentralized organizations, The Starfish and the Spider. Schools systems tend be centralized and suffer from the limitations inherent in top-down designs. The second metaphor is the concept of isomorphic mimicry. Pritchett argues that many developing countries superficially imitate systems that were successful in other nations— much as a nonpoisonous snake mimics the look of a poisonous one. Pritchett argues that the solution is to allow functional systems to evolve locally out of an environment pressured for success. Such an ecosystem needs to be open to variety and experimentation, locally operated, and flexibly financed. The only main cost is ceding control; the reward would be the rebirth of education suited for today’s world.

From one of America's best-known economists, the one book anyone who wants to understand the economy needs to read.

Universal basic income (UBI) is emerging as one of the most hotly debated issues in development and social protection policy. But what are the features of UBI? What is it meant to achieve? How do we know, and what don’t we know, about its performance? What does it take to implement it in practice? Drawing from global evidence, literature, and survey data, this volume provides a framework to elucidate issues and trade-offs in UBI with a view to help inform choices around its appropriateness and feasibility in different contexts. Specifically, the book examines how UBI differs from or complements other social assistance programs in terms of objectives, coverage, incidence, adequacy, incentives, effects on poverty and inequality, financing, political economy, and implementation. It also reviews past and current country experiences, surveys the full range of existing policy proposals, provides original results from micro†“tax benefit simulations, and sets out a range of considerations around the analytics and practice of UBI.