Applied Economics

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Product Description

This revised edition of Applied Economics is about fifty percent larger than the first edition. It now includes a chapter on the economics of immigration and new sections of other chapters on such topics as the -creative- financing of home-buying that led to the current -subprime- mortgage crisis, the economics of organ transplants, 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. On these and other topics, its examples are drawn from around the world. Much material in the first edition has been updated and supplemented. The revised and enlarged edition of Applied Economics retains the easy readability of the first edition, even for people with no prior knowledge of economics.

Customer Reviews:

  • Read another book
    Thomas Sowell's central point is that government intervention to correct economic or social problems can lead to unintended subsequent consequences. The book's main weakness is that it only provides examples where implemented governmental policies have caused problems: as if all government interventions are bad. A second weakness is that it provides no guidance in making better policy. There is little to learn from this book....more info
  • Thomas Sowell his current book
    Thomas Sowell latest book Basic Economics is a must read especially for the uninformed. The book belongs in schools through the country. Mr. Sowell is a national treasure who few people are aware of and will be sadly missed one day....more info
  • Economics for Dummies
    This book explains the world of economics better than any other I have ever read. Dr. Sowell demonstrates why he has been so successful in the academic world by reducing a boring, complex subject to that which is easy to read and understand.

    I highly recommend this book to the reader who wants fact, not fiction. It will be a hard read for many liberals but a necessary one if they ever hope to understand the world as it really is! ...more info
  • Basic Economics 101
    I found very little useful information in this book. The author takes the most basic elements of economics and attempts to apply them to very complex issues. If you have any econ or business knowledge, save your money and look elsewhere....more info
  • Excellent overview of how Economics & Politics affects everyday life
    Mr. Sowell's book explains things in very clear language... it's easy to see the cause and effect, and then subsequent effects, etc. that have affected many areas of our life. You don't need to have any previous knowledge of economics to understand this book.

    To be honest, I bought the book because I saw Mr. Sowell on TV where he was discussing health care in our economy. In that interview he said something that was so simple, yet so profound, I had to find out more about his ideas. I'm paraphrasing, but he said that people think that medical care is too expensive; and he couldn't understand why they might think that adding a government bureacracy's costs to medical care would help reduce that cost! I found out later, by reading this book, that the notion of price controls that the government could institute to attempt to keep medical care costs down, won't work. The underlying actual costs don't go away... the price controls would simply have people pay less for the medical care. And the economic result would be fewer people wanting to provide medical care (since profits are reduced or even wiped out) while more people would be demanding it (since it's cheaper). The net result would be shortages of medical care... long waiting times and/or poorer care.

    Mr. Sowell explains the concepts far more eloquently that I can. He covers topics in free vs. unfree labor; medical care; housing; businesses and their risks; immigration; discrimination; and the economic differences between nations. I highly recommend the book....more info


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