Applied Economics: Thinking Beyond Stage One

Applied Economics: Thinking Beyond Stage One

by Thomas Sowell

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Product Details

ISBN-13: 9780786722709
Publisher: Basic Books
Publication date: 12/09/2008
Sold by: Hachette Digital, Inc.
Format: NOOK Book
Pages: 352
Sales rank: 714,572
File size: 377 KB

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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Applied Economics: Thinking Beyond Stage One 4.6 out of 5 based on 0 ratings. 9 reviews.
Guest More than 1 year ago
If everyone were to read this book, we'd have a much better America and world. I honestly mean that. While many critize Dr. Sowell, and brush off his arguments as being 'conservative', he has here produced a work that is filled with fact, not mere opinion. And in fact, if any reader concludes that Sowell's take on the political economy is merely the viewpoint of a conservative economist, then I would argue that his take is that of a right economist, and everyone disagreeing with him is simply wrong. In essence, the facts and studies of real life govenmental control of economic systems and their horrible consequences cannot be refuted. Yet, many liberal politicians keep advocating for many of the same policies Sowell shows to be idiotic. If only everyone would read this book. In closing, my suggestion is this: Buy two copies - one for yourself and one for a friend. Read it carefully, underline the main points, and then laugh everytime a politician says 'affordable health care.'
jahn on LibraryThing More than 1 year ago
This book is highly recommended by G. Gordon Liddy, as is printed on the dust cover, something I find misleading, as even though the author also belongs on the far right on the political scale, his work has little in common with the gun parading antics associated with Liddy and his sphere. The book opens a bit slowly, repeating the organising ability of free market prices, but then launches into the economic realities of slavery, with lots of odd facts and figures from history. Like that the value of the life of a black slave in the American South, as being the property of a rich man, was higher than that of an Irishman, being owned by his poor self; and that the Soviet Gulag slaves were actually less profitable than paid workers doing the same job.A bit slower, or at least less intriguing, is the next section dealing with the health service. Noting that medicine makers need money for research and that this has to be taken out of pill prices is a bit of a yawn. Next up is high California house prices and the reasons for this, selfish and hypocritical lefties being to blame here as elsewhere! Then we¿re into discrimination. Mr Sowell has a lot of examples showing that capitalists, be they anti Jew, anti Black or anti Pole, still hires those who will make their firms most profitable. And he has the figures to show that equally qualified people to a large degree have been paid the same salary (in a free market), even before anti discrimination laws.The book ends with a section on the economic development of nations; the author finding the long backwardness of Africa more likely to stem from that continent's lack of navigable waterways than anything explainable with an exploitation theory.In spite of the perhaps all too expectable conclusions all through the book that laissez-faire is good and state intervention bad, this is really an entertaining ¿believe it or not¿ collection of economic facts and figures. I found it a good read.
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Guest More than 1 year ago
I totally agree with the review by 'Policy': If there is a single recent book that can advance economic literacy in this country, it is Thomas Sowell's latest book, Basic Economics.... Sowell has managed to make economics humane again, relevant and interesting to young people and ordinary citizens.... Buy a copy and read it immediately¿no: buy two,(no, buy ten - TA) and give [them] to a school teacher, a journalist, or a politician near you!
Guest More than 1 year ago
This excellent, short, clear book should be part of everyone¿s reference library, particularly those who wish to understand standard conservative economic thought. The distinctions author Thomas Sowell draws between political and economic logic should become a valuable part of each voter¿s mental apparatus. Writing to educate the general reader, not to further instruct the sophisticated economist, the author advocates minimal government interference. He calls for as little regulation as possible, mainly because regulations have unintended and usually undesirable economic consequences when seen with a long-range perspective. Sowell¿s concise, easy-to-read style cuts through the jargon of most economic discussions to lay bare the underlying, plain heartwood. It is easy to quibble here and there. Sowell doesn¿t offer lots of statistics and back-up material. And, he seems to argue against individual economic decision making when he tilts a drug pricing discussion into a sermon against Americans buying medicine at low Canadian prices. However, we find that his book stands on its merits nonetheless, as long as you understand that the author has a political ¿ as well as an economic ¿ point of view.
Anonymous More than 1 year ago
I thoroughly enjoyed the red, right up to the final paragraph. But i was surprised thre was no ending. I turned the page expecting another topic but I was at the notes. No conclusion, no take away. Not at all what expected after such lucid exposition.