Trade-Offs: An Introduction to Economic Reasoning and Social Issues (Paperback)

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Editorial Reviews

Review

"Harold Winter's engaging volume is a great starting point for introducing students to the economic approach to policy issues. Where other disciplines see absolutes, economics sees trade-offs. And, as Winter shows, the guidance economics provides as to what these trade-offs are and what balance we should strike is often surprising. Trade-Offs illustrates the broad range of economic reasoning with a wealth of case studies that runs the gamut from auto safety to organ transplants. This book will get students excited about learning economics." - W. Kip Viscusi, Harvard Law School"

Review

"With this slim volume, Winter joins the ranks of recent economists who have tried to unlock the mysteries of economic reasoning for the uninitiated. Winter''s book boasts one major advantage over its competitors: its organization around a unifying theme (benefit-cost analysis and the gains from trade) provides a conceptual framework that enables the reader to see patterns among the different issues surveyed. Given the target audience for this volume, the value of this pedagogical device cannot be overestimated. The topics are interesting, the writing is crisp, technical terms are adequately explained, and the tone is entertaining. Winter''s interest in law is readily apparent throughout the book, from his discussion of piracy and copyright infringement to his analysis of product liability. . . . Winter''s book is a wonderful introduction to economics for the layperson, as well as an excellent supplement for use in an entry-level economics course."--J. H. Turek, Choice (J. H. Turek CHOICE 20041220)

Choice "Outstanding Academic Title" 2006 (Choice )

"This is a delightful book. It made me feel proud to be an economist."-Miles Kimball, University of Michigan (Miles Kimball Miles Kimball ) --This text refers to the Hardcover edition.

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Product Details

• Paperback: 126 pages
• Publisher: University Of Chicago Press (May 1, 2005)
• Language: English
• ISBN-10: 0226902250
• ISBN-13: 978-0226902258
• Product Dimensions: 8.5 x 5.5 x 0.4 inches
• Shipping Weight: 5.3 ounces (View shipping rates and policies)
• Average Customer Review: 4.3 out of 5 stars  See all reviews (7 customer reviews)
• Amazon.com Sales Rank: #405,089 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

11 of 14 people found the following review helpful:

5.0 out of 5 stars Infinitely Better than Freakonomics, September 23, 2005

By	Dmitri Ulinov (California, USA) - See all my reviews

I love the popular writings of Steven Landsburg, Gary Becker and Walter Williams. This book is in the same vein, bringing jargon-laden economics down to a level of prose that everyone can understand and enjoy. (Most of the jargon and formal modeling in AER articles and econ textbooks is entirely useless.) On top of this, Winter has wit. How many econ professors actually have wit? I've done a study -- it's 5 and Harold Winter can happily put himself in that class now.

And this book vastly outshines "Freakonomics," which is nothing more than a book on measurement (not economic theory as it portends) and a incessant celebration of its authors.

My only critique of "Trade-Offs" is that I wish it were longer. I anxiously await "Trade-Offs II: Revenge of the Neoclassicists."

3 of 3 people found the following review helpful:

3.0 out of 5 stars The economics of policy, February 8, 2006

By	Arya B. Gaduh (Los Angeles, CA USA) - See all my reviews (REAL NAME)

'Trade-offs' is a good introduction to the economic analysis of policy, with a message clearly conveyed by its title: There are trade-offs for every (public) policy. Excellent for explaining economic analysis to people with little background in economics.

Disagree with the previous reviewer's comparison with Freakonomics: Though both are good, Freakonomics describes things that are at the frontier of current economic research (in an amazingly clear way). So, Freakonomics offers both clarity and novelty, while (at least for most people educated in economics), Trade-Offs mostly offers the former.

I would have given Trade-Offs a four star, but I think it is a bit too short for the money.

1 of 1 people found the following review helpful:

4.0 out of 5 stars Short and sweet., June 23, 2007

By	K. MacDonald (Baltimore, MD) - See all my reviews (REAL NAME)

This no non-sense, straight to the point book demonstrates clearly that no solutions exist to any social situation. There are only trade-offs. I especially liked his argument that there may be too little smoking in the world.

Winter clearly understands that pleasure, life, and many other things do indeed have a dollar value associated with them. Ignoring this exposes you to a variety of logical flaws, leading to false or misleading solutions.