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Applied Economics (Second Edition): Thinking Beyond Stage One: Revised and Enlarged, by Thomas Sowell
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Applied Economics is an accessible guide to how our economic decisions develop. It explains the application of economics to major world problems, including housing, medical care, discrimination, and the economic development of nations, illustrating with examples from around the world. This new, expanded edition has been updated to address economic questions that are particularly relevant to our times, with chapters on the economics of immigration, the economics of organ transplants, the creative financing of home buying that led to the current mortgage crisis, and the political and economic incentives that lead to money earmarked for highways being diverted to mass transit and to a general neglect of infrastructure. The book retains its easy readability, even for people with no prior knowledge of economics.
- Sales Rank: #3337968 in Books
- Published on: 2009-08-01
- Formats: Audiobook, Unabridged
- Original language: English
- Number of items: 1
- Dimensions: 7.40" h x .60" w x 5.30" l, .25 pounds
- Running time: 41400 seconds
- Binding: MP3 CD
- 1 pages
Review
Applied Economics...is simply the must-have field guide to our economic landscape. --Jonah Goldberg, Los Angeles Times columnist
Applied Economics is full of...good sense and serves as an excellent defense against the counterproductive promises of political candidates. --Wall Street Journal
About the Author
THOMAS SOWELL graduated magna cum laude with a B.A. degree in economics from Harvard University, received an M.A. in economics from Columbia University, and a doctorate in economics from the University of Chicago. He has taught economics at Howard University, Cornel, Brandeis, and UCLA. Since 1980 he has been a Senior Fellow of the Hoover Institution at Stanford University, where he holds a fellowship named after Rose and Milton Friedman. He is also the author of several books, including Basic Economics and his recent Economic Facts and Fallacies.
Most helpful customer reviews
3 of 3 people found the following review helpful.
A bit of overlap
By Leib Gershon Mitchell
Perhaps it's because I've read so many of Dr. Sowell's books and columns, but I'm beginning to see a lot overlap in what he writes.
1. He has talked about the role of navigable rivers in economic development several times before-- not least in his "Migrations and Culture" book among other places (columns).
2. The notion that the amount of "dead capital" that is sitting in places like Haiti and other third world countries that cannot be erected because of poorly functioning legal systems is not new either. This is something that was covered at great length in William Easterly's book "Misadventures in the Tropics" and (I believe) in "Wealth and Poverty of Nations" (David Landes). Both of them are great books. Of course, Dr. Sowell writes about them in an interesting and easy-to-understand way, but the book feels very much like a secondary source since I know exactly where these arguments come from
3. A lot of the data on differences in income between different ethnic groups was trotted out from older works (but updated), so one gets a strong sense of deja vu when reading this.
Overall, it's a good and very readable work. It is worth reading for people who never bother to fill in their ideas with specific case studies or case examples of what *actually happened* under certain circumstances.
His discussion of health care economics was also very interesting and made the whole book worth its purchase price. So, on the strength of that alone, I recommend the book.
79 of 80 people found the following review helpful.
A must-read for every voter!
By K. Hammond
Once again, Sowell clearly explains everyday economic concepts with a series of interesting real-life examples from around the world and throughout history. The focus of the book is not only to explain sound economic concepts but also to explain why it is often in the personal interest of the political class to act contrary to these principles. The negative effects of their actions are often not felt until they are long out of office and few are likely to trace these effects back to their original cause. In the short term, doing the wrong thing gets them elected or re-elected.
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!
2 of 2 people found the following review helpful.
This should be required text for high school and college ...
By Danilo Morales
This should be required text for high school and college students. Too many students speak of free college education, relief from student loans, and many social justice gobbledygook without understanding what they are talking about. too many people, both young and old but primarily leftists seem to have missed what their parents taught them that "money doesn't grow on trees!" (Unless their parents believed that and taught them that).
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