Stay Inside This Weekend, Read Dr. Sowell's "Basic Economics"
May 25, 2007
RUSH: Have you seen the big news about the gasoline prices going down? You can make book on it, gasoline prices are down going into Memorial Day weekend. Two tenths of a cent per gallon, but they're down. I told you they were going to be coming down. Also, I want to make this recommendation one more time to you while I've got it in front of me and before I forget it. It came up yesterday during all of the discussion of gasoline prices. We had a call a couple days ago from someone who clearly did not understand the free market and gasoline and oil prices. He believed there wasn't one, essentially. I'm always railing about the notion that economics education in this country is just worthless. It doesn't teach anybody anything that is useful to them about economics.
There is a book out there. I admit, Dr. Thomas Sowell is a good friend of mine, but he's got one of the best books for non-economists to understand the basics of economics. It's called "Basic Economics: A Citizen's Guide to the Economy." It is simple. It doesn't have any of this economic lingo that only advanced economists understand and it's what you should have learned in junior high and high school, and beyond that of course. It's been out for a while now and you will marvel when you read this. Lights will go on inside your fertile little gray cells and you'll be like, "Why didn't I think of that? Why didn't I understand it to happen this way?" This is going to be one of the most valuable books in your economic education that you ever read. I don't care how far along in education, in economics, that you've gone. It is "Basic Economics: A Citizens Guide to the Economy," by Dr. Thomas Sowell.