Common Sense Economics: What Everyone Should Know About Wealth and Prosperity

As the global economy recovers from recession, understanding economic fundamentals has become increasingly important. Core principles—including gains from trade, the role of profit and loss, and the effects of government spending, taxes, and borrowing—shape how America's economy functions and affect both professional and personal financial decisions. Common Sense Economics examines key economic points and theories to help readers make wiser personal choices and develop informed positions on policy matters. Now in its third edition, this updated work by James D. Gwartney, Richard L. Stroup, Dwight R. Lee, and Tawni H. Ferrarini reflects on the recession and subsequent progress. It provides insight into political processes and demonstrates how economics informs policy decisions.