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Applied Economics: Thinking Beyond Stage One Hardcover – Bargain Price, December 8, 2008
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Top Customer Reviews
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!
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!
This book is no exception, in Thomas Sowell's hands the "dismal science" brightens up a bit and shows its importance in explaining human affairs. I suppose it is too much to hope that a significant number of political types will read this book and start "Thinking Beyond Stage One." The few politicians that do, must be supported by unusually intelligent constituents that look beyond claimed legislative goals to the real incentives presented and their effects.
Dr. Sowell clearly explains the contrasting incentives that drive most politicians and their constituents. Living in the Bay Area he has numerous examples of the extreme form of this pathology. My friends in his area who do evaluate incentives, and do the numbers, are appalled by the stage one thinking that so dominates public affairs.
The author's chapter on free labor and slavery and all the variations between is clear and informed. He has spent a lifetime studying this issue and he presents the economics in a very robust form with excellent examples from his wide studies of many human societies.
His chapters on medical care and housing should be read by everyone interested in current affairs.
His treatment of risk and insurance and the perverse effects caused by government agencies is wide ranging and clear. He also describes private individuals who make a living by promoting costly conclusions based on "Stage One" thinking.
With the inclusion of chapters on immigration, discrimination, and the economic development of nations, Dr.Read more ›
The basic claim of Applied Economics is that political policies must be analyzed, not based on their avowed goals, but rather on their foreseeable short AND long-term consequences. By considering the incentive policies such as rent control create, it is easy to see how policies that sound good, and are therefore popular, may have disastrous results, often for precisely those persons whom the policy is designed to protect. To establish this point, Sowell amasses significant historical and empirical evidence to back up his claims in a variety of topics. His analysis of the economics of housing, immigration, and insurance are particularly excellent.
Free and Unfree Labor:
The first topical discussion begins with a history lesson, providing an eye-opening account of the many forms of unfree labor. Americans tend to think of labor as either being free (wage labor) or unfree (slavery), but in fact, there were many forms of labor that fell somewhere in between these poles.Read more ›
Most Recent Customer Reviews
Great read! Sowell makes Economics easy to understand and interesting!Published 3 months ago by Amazon Customer
I've read many of Dr. Sowell's books. They are all clear cut, easy to understand and to read. Examples make some of the concepts easier to understand. Read morePublished 6 months ago by Bill
As usual Sowell is superb. Written in easy to follow language.Published 9 months ago by vaughn dunlap
Anything written by Mr. Sowell is well worth the price.Published 11 months ago by Raymond J. Shipley