As someone who knows next to nothing about economics (studying in the health care field) and someone who admires Thomas Sowell I decided to pick up pic related and although I have made it through the first three chapters, I find it really hard to imagine how anyone could be against a free market society in favour for government fixed pricing such as the "fixed rental prices" he talks about and the fixed pricing of food products that causes unnecessary surpluses of food that keep those same food products priced well above their market values.
TLDR; Have people who support communism and socialism read this book and what were their thoughts on it?
>>1016983
People that support socialism or communism go out of their way to NOT read legitimate economics books.
>>1016990
and avoid logic and reason at all costs
>>1016990
Is this book considered legitimate? I tried my best to find something that wasn't partial to one system or another and I noticed this one is slanted towards capitalism.
>>1016999
form your preliminary opinion based off the quotes from the author
>>1017006
Tell me if its worth buying, I want to read it too, looks interesting
what's an economic argument against communism tho
>>1017023
No business reinvestment of earnings means no growth without excess debt.
>>1017018
OP here it's worth buying, like I said i'm studying in the health care field and know next to nothing about economics and by reading the first three chapters I have learned a lot in regards to just the foundation of economics especially the comparisons against a socialist/communist economic system and a free market.
Be warned it's thick but a good read none the less.
>>1017023
This was one thing I was really surprised which was tackled early on. It is virtually impossible to have people regulate/manipulate the prices of ever single commodity available as Thomas points out every resource has many different uses (can be turned into different things). Why communism fails is because yes it creates an equal standard of living for everyone, but its an equally terrible/ poor quality of living in relation to the standards we live in today.
>>1016983
If you had no fixed food prices farming would become a break even / net negative business without slave labor. This is why the US went to war with itself. Fixed rental prices / rent control is a flawed system, but in places like San Fransisco / New York it helps combat price hikes every year. Neither system is perfect, but they are there to try to help solve an underlying problem.
>>1016990
basically this
>>1017018
anything by Sowell is worth buying, not trolling
