By James Gwartney, Richard L. Stroup, and Dwight Lee

“This book provides the ABC’s of how the world creates wealth without anyone having to be in charge because of market incentives-people are free to specialize, and by focusing on what they can do best for themselves, do unintended good for the rest of us. There is no other route to human betterment and poverty reduction.”

— Vernon L. Smith, 2001 Nobel Prize Winner
“This book is a must read for anyone who wants to understand how the world really works and why economic freedom is the central ingredient of prosperity. If every citizen would read this book, our politics would be more enlightened and our nation more prosperous.”

— Senator Connie Mack

* Do taxes help more than they hurt?
* What effect does redistributing wealth have on our economy—and those who participate in its redistribution?
* What is the role of government?
* How does an economy work?

James Gwartney, Richard L. Stroup, and Dwight R. Lee are three of the most prominent economists today, and in Common Sense Economics they show us why economic understanding is an essential ingredient for life in today’s society, a key element that empowers those who possess it to better take charge of their own lives and their own responsibilities to their society. In clear, powerful language free of any hint of jargon or obscurity, they illuminate the basic principles of supply and demand, private ownership, trade, and more. In a world where free trade, taxes, and government spending are issues everyone needs to understand, Common Sense Economics is a lucid, simple explanation of how and why our economy and our world work the way they do, and how and why individuals and nations prosper.