This revised edition of Applied Economics is about fifty percent larger than the first edition. It now includes a chapter on the economics of immigration and new sections of other chapters on such topics as the “creative” financing of home-buying that led to the current “subprime” mortgage crisis, the economics of organ transplants, and the political and economic incentives that lead to money earmarked for highways being diverted to mass transit and to a general neglect of infrastructure. On these and other topics, its examples are drawn from around the world. Much material in the first edition has been updated and supplemented. The revised and enlarged edition of Applied Economics retains the easy readability of the first edition, even for people with no prior knowledge of economics.
Applied Economics: Thinking Beyond Stage One
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"Thomas Sowell is one of the fine scholars of our time."
About the Author
Thomas Sowell has taught economics at Cornell, UCLA, Amherst and other academic institutions, and his Basic Economics has been translated into six languages. He is currently a scholar in residence at the Hoover Institution, Stanford University. He has published in both academic journals in such popular media as the Wall Street Journal, Forbes magazine and Fortune, and writes a syndicated column that appears in newspapers across the country.
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Thomas Sowell has taught economics at Cornell, UCLA, Amherst and other academic institutions, and his Basic Economics has been translated into six languages. He is currently a scholar in residence at the Hoover Institution, Stanford University. He has published in both academic journals in such popular media as the Wall Street Journal, Forbes magazine and Fortune, and writes a syndicated column that appears in newspapers across the country.
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Most Helpful Customer Reviews
63 of 64 people found the following review helpful
By K. Hammond
Format:Hardcover|Amazon Verified Purchase
Once again, Sowell clearly explains everyday economic concepts with a series of interesting real-life examples from around the world and throughout history. The focus of the book is not only to explain sound economic concepts but also to explain why it is often in the personal interest of the political class to act contrary to these principles. The negative effects of their actions are often not felt until they are long out of office and few are likely to trace these effects back to their original cause. In the short term, doing the wrong thing gets them elected or re-elected.
Every voter should read this to inoculate themselves from the lies of our politicians. The book is non-partisan, exposing the political thinking of both US parties, as well as many others in other countries.
If you don't think you are interested in economics, you should be, because it affects the life of every man, woman and child on the planet. This book makes what can be a dry subject interesting. It's hard to put down!
Every voter should read this to inoculate themselves from the lies of our politicians. The book is non-partisan, exposing the political thinking of both US parties, as well as many others in other countries.
If you don't think you are interested in economics, you should be, because it affects the life of every man, woman and child on the planet. This book makes what can be a dry subject interesting. It's hard to put down!
32 of 32 people found the following review helpful
Format:Hardcover
This book explains the world of economics better than any other I have ever read. Dr. Sowell demonstrates why he has been so successful in the academic world by reducing a boring, complex subject to that which is easy to read and understand.
I highly recommend this book to the reader who wants fact, not fiction. It will be a hard read for many liberals but a necessary one if they ever hope to understand the world as it really is!
I highly recommend this book to the reader who wants fact, not fiction. It will be a hard read for many liberals but a necessary one if they ever hope to understand the world as it really is!
21 of 21 people found the following review helpful
By C. Wilburn
Format:Hardcover|Amazon Verified Purchase
Very good book, well written and informative. Provides an in depth view of current economic problems and why they exist. This author also explains why politicians make decisions that are a "quick fix" for current economic problems to get them re-elected but the decisions they make are often harmful to the economy in the long run.
Most Recent Customer Reviews
4.0 out of 5 stars
Very Heavy but a good writer
A deep look into our economic situation and how we got into this mess. Good for home economies. I was impressed with the author.
Published 2 months ago by Roni Masse
5.0 out of 5 stars
Should be required reading for all high school students
Great examples by Dr. Sowell. If this was taught in high school, our representatives would not need to act stupidly to get our votes. Read more
Published 4 months ago by John E. Steinmetz
5.0 out of 5 stars
If only every economist were as honest as Thomas Sowell
Economics is called a dismal science for a good reason: economists of different schools of thought never agreed even on definition of money, let alone anything else. Read more
Published 5 months ago by Michael Vilkin
5.0 out of 5 stars
Amazing Book! Just tells the Facts!
This book, like all of Thomas Sowell's books, stick to the facts. There are sources for every fact, study, or idea that is posed in this book which makes it extremely useful for... Read more
Published 6 months ago by G. Clough
5.0 out of 5 stars
Amazing book, one of the best I have read.
I cannot stress this enough: everyone needs to read this book. It gives a detailed account of everything we need to know about economics. Read more
Published 8 months ago by Bfunk
1.0 out of 5 stars
Shoddy Scholarship
I can fully understand why folks might want to get a "simple" introduction to a rather complicated subject such as economics. Read more
Published 13 months ago by Ryan Davis
5.0 out of 5 stars
Applied Economics - Thomas Sowell
Thomas Sowell is an American Treasure.
His knowledge and understanding of economics is nonpareil.
He may be the greatest thinker of our time. Read more
His knowledge and understanding of economics is nonpareil.
He may be the greatest thinker of our time. Read more
Published 13 months ago by K. Mihara
2.0 out of 5 stars
Book was doing all right until I read the health care chapter
Reading the health care chapter I realized there were some points Sowell did not discuss that greatly detracted from his arguments. Read more
Published 18 months ago by Govis
5.0 out of 5 stars
An abundance of common sense in this volume.
Throughout "Applied Economics" author Thomas Sowell continually tries to impress the reader of the importance of "thinking beyond stage one". Read more
Published 21 months ago by Paul Tognetti
5.0 out of 5 stars
My favorite economist
My review will be very short -- after reading this book (I actually listened to it -- it was an audiobook narrated by the author), I planned right away to read all the rest of... Read more
Published 22 months ago by elena
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