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, Less Crime: Understanding Crime and Gun-Control Laws - Lott, 1998), and that our nation has been tricked into having an irrational fear of guns (The Bias Against Guns: Why Almost Everything You've Heard About Gun Control Is Wrong- Lott, 2003). In his new book, Freedomnomics: Why the Free Market Works and Other Half-Baked Theories Don't, Lott steps into a wider study of economics. It's a fantastic read - for those who don't think they have any interest in economics and for those who do.
In Freedomnomics, Lott takes on the conventional economic wisdom of media, the education industry and the talk around the water cooler. He contrasts emotional economic arguments made in the recent, big selling book Freakonomics (big business is ripping us off, all elected officials are liars, more regulations and laws are the answer) with quiet, thoughtful straight talk about these issues. Instead of selling books on the cheap with populist blather, Lott is non-partisan, logical and unemotional while he presents the facts surrounding the debate at hand - leaving the reader to draw his own conclusions. Freedomnomics is steeped in common sense and straight talk about a issues ranging from the effects of women's suffrage to how the threat of a damaged reputation keeps business from dealing with consumers dishonestly.
If you're looking for a book about gross output and supply/demand curves, loaded with graphs and equations, Freedomnomics is not your book. When most people think of economics, they recall the dry study of the flow of money. Lott's economics is a fascinating study of real-world problems and the effects of various "solutions" that have been tried. The book contains no mathematical equations or complex graphs, but does offer a fine helping of frankness and candor from a very smart man who can tell a story well. Freedomnomics: Why the Free Market Works and Other Half-Baked Theories Don't is not a bunch of academic gobbledygook from a condescending professor; it is a refreshing dose of truth and common sense on why the market works, the folly of government intervention, crime solutions, voting fairness and the truth about government-run schools.
Lott begins Freedomnomics with the simple sentence, "The free market works". He's right. But as the name implies, Freedomnomics is about Freedom. Freedom to succeed and to fail, freedom from big government, freedom from the nagging belief that we're constantly being ripped off and lied to, and freedom to understand a little more about how this world works. Freedomnomics: Why the Free Market Works and Other Half-Baked Theories Don't is another extraordinary book by John Lott. Don't miss it.
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Bruno Constante Goedert
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Reviewed in Brazil on January 18, 2023
