This book is for those who want to figure out how the economy works, but do not want to immerse themselves in professional vocabulary and equations. Best-selling author Thomas Sowell explains the general principles underlying various economic systems: capitalist, socialist, feudal, and so on. In accessible language, he shows how to criticize economic policy in terms of the incentives it creates rather than the goals it proclaims. With clear explanations of the entire field, from rent control and the rise and fall of business to the international balance of payments, this is the No. 1 book for anyone who wants to understand how the economy functions. Inside you will find an explanation of the basic economic principles in accessible language, as well as examples from different countries and eras.