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Freedomnomics: Why the Free Market Works and Other Half-Baked Theories Don't
 
 
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Freedomnomics: Why the Free Market Works and Other Half-Baked Theories Don't (Hardcover)

~ John R. Lott Jr. (Author)
Key Phrases: reputational penalties, accidental gun deaths, campaign finance restrictions, African Americans, United States, Are You Getting Ripped Off (more...)
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Editorial Reviews

Product Description

Freedomnomics is everything you wanted to know about the world but didn't know economics could tell you. Economist and bestselling author John Lott shows the logic of free market economics through clear and hard-hitting examples.


From the Inside Flap

How free-market economies really work

(and why they work so well)

Are free market economies really based on fleecing the consumer? Is the U.S. economy truly just a giant free-for-all that encourages duplicity in our everyday transactions? Is everyone from corporate CEOs to your local car salesman really looking to make a buck at your expense?

In Freedomnomics: Why the Free Market Works and Other Half-Baked Theories Don't,

economist and bestselling author John R. Lott, Jr., answers these and other common economic questions, bravely confronting the profound distrust of the market that the bestselling book Freakonomics has helped to popularize. Using clear and hard-hitting examples, Lott shows how free markets liberate the best, most creative, and most generous aspects of our society--while efforts to constrain economic liberty, no matter

how well-intentioned, invariably lead to increased poverty and injustice. Extending

its rigorous economic analysis even further to our political and criminal justice

systems, Freedomnomics reveals:

● How the free market creates incentives for people to behave honestly

● How political campaign restrictions keep incumbents in power

● Why legalized abortion leads to family breakdown, which creates more crime

● Why affirmative action in police departments leads to higher crime rates

● How women's suffrage led to a massive increase in the size of government

· Why women become more conservative when they get married and more

liberal when they get divorced

● How secret ballots reduce voter participation

● Why state-owned companies and government agencies are much more likely to engage in unfair predation than are private firms

● Why the controversial assertions made in the trendy book Freakonomics are almost entirely wrong

Entertaining, persuasive, and based on dozens of economic studies spanning decades, Freedomnomics not only shows how free markets really work--but proves that, when it comes to promoting prosperity and economic justice, nothing works better.

See all Editorial Reviews

Product Details

  • Hardcover: 256 pages
  • Publisher: Regnery Publishing, Inc. (June 4, 2007)
  • Language: English
  • ISBN-10: 1596985062
  • ISBN-13: 978-1596985063
  • Product Dimensions: 9 x 5.9 x 1.3 inches
  • Shipping Weight: 1.2 pounds (View shipping rates and policies)
  • Average Customer Review: 4.2 out of 5 stars  See all reviews (104 customer reviews)
  • Amazon.com Sales Rank: #139,742 in Books (See Bestsellers in Books)

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John R. Lott
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Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Search Inside This Book:
Inside This Book (learn more)
Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
reputational penalties, accidental gun deaths, campaign finance restrictions, concealed handguns, campaign finance regulations, voting rates
Key Phrases - Capitalized Phrases (CAPs): (learn more)
African Americans, United States, Are You Getting Ripped Off, Supreme Court, New York City, Hurricane Katrina, West Coast, Western Union, Different States, University of Buffalo, The Kelly Bluebook, Academic Research, Washington State, Violent Crime Violent Crime Refereed, Year Olds, Washington Post, University of Chicago
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Customer Reviews

104 Reviews
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Average Customer Review
4.2 out of 5 stars (104 customer reviews)
 
 
 
 
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155 of 186 people found the following review helpful:
5.0 out of 5 stars A serious response to a non-serious work, June 14, 2007
By Xrlq (Richmond, VA) - See all my reviews
Personally, I liked Freakonomics. By pointing out "the hidden side of everything," it forces the reader to think about how things are connected in ways the average non-economist might not imagine. However, that's all the book is really good for. There's not a lot of serious economic analysis in there, only interesting ideas thrown about at almost at random. Thus, reading Freakonomics for the conclusions makes about as much sense as reading Playboy for the articles. For this reason, a book responding to Freakonomics shouldn't have been necessary. Given the buzz created by Freakonomics, though, it probably was, and Lott is as good an economist as any to do that.



For example, Levitt and Dubner wrote in Freakonomics that realtors keep their homes on the market a little longer than their customers do, and also make a bit more profit upon selling them. From this, Levitt and Dubner jumped to the conclusion that this meant realtors are systematically scamming their customers. Lott rightly countered with a much simpler and more straightforward explanation: every realtor follows his own sage advice, but not every realtor's customer does. Lott's conclusions regarding the interplay between crime and abortion are a bit more questionable. True, the fact that the U.S. and Canada experienced a similar drop in crime at the same time in the early 1990s, while Canada's version of Roe came a decade too late to fit neatly with Levitt and Dubner's theory, does appear at first blush to be problematic for their theory. However, at second blush it's not clear how how problematic that factor is, given that the very few Canadians live more than a couple hundred miles from the U.S. border, meaning that nearly all could have easily availed themselves of Roe in the interim. Lott is on shakier ground still when he argues that legalized abortion caused an increase in crime, while citing data equally consistent with the view that some other factor, e.g., the sexual revolution, caused both the increase in uncommitted sex (with or without contraception) and the push for legalized abortion. Given the relatively short history between Griswold and Roe, in which Americans enjoyed a "constitutional" right to contraception but not abortion, it's not clear we will ever know which factor caused the other. That said, Lott does appear to have made as strong of a case for the view that abortion causes crime as Levitt did for the view that it prevents it, thereby neutralizing the abortion-as-crime-control argument with which Levitt himself stops short of fully endorsing.



Lott has plenty of books filled with tables, linear regressions, and all that other geeky stuff few of us could understand if we tried. Freedomnomics is not such a book. Rather, it reads as exactly what it purports to be: a conservative reply to Freakonomics. Like Freakonomics, it is written to be accessible to the layman, not to provide the reader with a mountain of data supporting every conclusion. For this reason, I'd urge readers to read both books in much the same way: use both to help you recognize issues you may otherwise not have noticed, but take both books' conclusions on these issues with an appropriately sized grain of salt. And I'm saying this as one who agrees with many of Levitt and Dubner's conclusions, and almost all of Lott's.
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95 of 117 people found the following review helpful:
5.0 out of 5 stars Excellent defense of free markets, May 17, 2007
By James D. Miller (South Deerfield, MA USA) - See all my reviews
(REAL NAME)   
Excellent book showing the power of free markets and the harm that manifests when governments interfere in markets. Many economists claim that free markets work great in theory but there are many types of market failures that require government intervention. Lott points out how markets themselves can overcome these so called market failures and how government attempts to correct these failures often makes the situation much worse.

Lott takes on very politically incorrect topics that the mainstream media would never touch such as how affirmative action influences police effectiveness and how giving women the right to vote has influenced the size of the government.

The book is very readable and is clearly intended for a general audience. I would strongly recommend it to people who enjoy the writings of columnists such as Walter Williams and Thomas Sowell.
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72 of 90 people found the following review helpful:
5.0 out of 5 stars Freedom, An End in Itself., June 25, 2007
Even though I have no background in economics I picked up Dr. John Lott's Freedomnomics the other day and was somewhat surprised to find it as fascinating a read as it was. It's designed to be a direct response to the wildly successful Freakonomics, and the text here was definitely written with laymen in mind. In other words, the statistics he presents are more educational than they are overwhelming. As far as the politics goes, Dr. Lott is obviously a man of the right but the book is not a partisan affair. It is a sincere attempt to demystify the innerworkings of economics. There's no plugging of any candidates or of a party here. It's kind of sad to acknowledge but recognizing the inherent inefficiency of government, along with the way in which private individuals spend their earnings more efficiently, is often a partisan issue in this country but it really shouldn't be.

Dr. Lott emphasizes the liberty and justice inherent to capitalism, and debunks numerous arguments about the limitations of the free market along the way. The bottom line here is that capitalism is what has allowed America to become as well-off as we are. In how many other countries is the overeating of poor people a major concern? As far as what positions struck me as being the strongest, I'd have to say that his link between women's suffrage and the swelling of government was ironclad. Further, in but two pages, he gave one of the best explanations that I've heard for why college faculties are ideologically skewed. I also have to admit that the Myth of Double Giving was completely unknown to me before opening this book. I always just accepted the idea that corporations covered their bets by giving to both political parties simultaneously. Upon reading this I discovered that the press reporting of these figures is completely inaccurate. The company net for donations is a total of what private donators, who happen to work for a particular corporation, give. They do not come from the company itself. Nowhere was Dr. Lott stronger than in his examination of the fashionable theory that increased abortion rates decrease crime. He found the opposite to be true and was most persuasive--in fact, the whole book is most persuasive. The whole country would be better off if half of our young people were lucky enough to read the chapter, "Government as Nirvana?"
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Most Recent Customer Reviews

5.0 out of 5 stars Outstanding scholarship
Fascinating academic approach and reproach to the journalistic 'freakonomics'. You won't be disappointed. Read more
Published 3 months ago by D. Ferry

5.0 out of 5 stars An excellent perspective on free market economics
I read and enjoyed both editions of "Freakonomics", as much for the sleight of hand employed by the authors as for the bits of actual information. Read more
Published 5 months ago by Jerry Saperstein

4.0 out of 5 stars concise defense of the free market system
In the age of bailouts and high-handed government interference in the markets, it seems like no better time for a book like this. Read more
Published 5 months ago by ironman96

5.0 out of 5 stars If you love capitolism buy this book
I was excited to see a book that was pro capitalism. This book did not disappoint one bit so when I saw it I had to pick it up. Read more
Published 6 months ago by Scott S, Bell

5.0 out of 5 stars A great read...Milton Friedman would be proud
Reading Lott's book, Freedomnomics, made me wish out loud, "why couldn't I have had a professor like John Lott? Read more
Published 9 months ago by Tracey Wyatt

5.0 out of 5 stars Teaching (and learning) how markets work
As a professor of economics, I am aware of how difficult it is to communicate the "simple" principles of economics. Read more
Published 9 months ago by Edgar K. Browning

5.0 out of 5 stars John Lott hits another home run with Freedomnomics
Noted economist John R. Lott, Jr. is known for his books arguing that gun restrictions have the unintended consequence of actually increasing crime and gun violence (More Guns,... Read more
Published 9 months ago by Tracy W. Price

5.0 out of 5 stars An Excellent Counterpoint to Goofy Freakonomics
While Devon's critique of John Lott's book is valid as far as it goes, he misses the overall context of Freedomomics. Read more
Published 9 months ago by Taiji 218

2.0 out of 5 stars Half Baked
While Mr. Lott can make some strong arguments, mostly in the introduction of his book, and bring light to some interesting possibilities within economics, he makes one serious... Read more
Published 9 months ago by Devon Inman

1.0 out of 5 stars Freedom-Fries!
If you think "Freedom-Fries" was an intelligent idea you will appreciate this book. Otherwise....don't bother.
Published 11 months ago by Cardinal

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