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Applied Economics, First edition: Thinking Beyond Stage One download epub

by Thomas Sowell,Brian Emerson


Epub Book: 1172 kb. | Fb2 Book: 1467 kb.

I suppose it is too much to hope that a significant number of political types will read this book and start "Thinking Beyond Stage On. The few politicians that do, must be supported by unusually intelligent constituents that look beyond claimed legislative goals to the real incentives presented and their effects.

Applied Economics" is full of the calm voice and sound thinking that readers have come to expect from Thomas Sowell who regularly makes compelling reading out of "the dismal science.

Applied Economics: Thinking Beyond Stage One. Thomas Sowell (Author), Brian Emerson (Narrator), Inc. Blackstone Audio (Publisher). Applied Economics" is full of the calm voice and sound thinking that readers have come to expect from Thomas Sowell who regularly makes compelling reading out of "the dismal science. Economics can be helpful for making decisions, but it doesn't make them for us. All it can do is help us to see the trade-offs, the costs and benefits inherent in different choices we make.

Applied Economics: Thinking Beyond Stage One (. ISBN 0-465-08143-6) is a 2003 nonfiction work by economist Thomas Sowell. Sowell discusses how basic economics is generally misapplied because politicians think only in Stage One. Stage One is the immediate result of an action, without determining what happens then. He argues that many politicians cannot see beyond Stage One because they do not think beyond the next election

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Applied Economics book.

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On these and other topics, its examples are drawn from around the world.

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73} Martin Wainwright, Girl, 12, to Get Breast Implant, The Guardian (London), November 9, 1998, p. 6; Condition Still Critical, The Economist, April 13, 2002, pp. 55–56. 81} Andrew Martin, Awash in Milk and Headaches, New York Times, January 2, 2009, pp. B1, B5. {82} Scandalous, The Economist, October 5, 2002, p. 13. {83} David Barboza, Sugar Rules Defy Free-Trade Logic, New York Times, May 6, 2001, section 1, pp. 1, 40.

The ideal companion volume to the acclaimed Basic Economics-a guide to how our economic decisions turn out in practical terms.

[Read by Brian Emerson]FIRST EDITION This book is geared to the average citizen with little or no economics background who would like the tools to think critically about economic issues. Many of today's economic issues are obscured by their inherent complexity and the often confusing and conflicting views coming from political talking heads. Sowell, a leading conservative economist and senior fellow at the Hoover Institution, seeks to alleviate this confusion. -- He begins by elucidating the differences between politicians, who are often compelled by political considerations to act for the short term, and economists, who are more concerned with long-term ramifications. Sowell then focuses on the application of economics to major contemporary real-world problems-housing, medical care, discrimination, and the economic development of nations.

Comments: (7)

Chuynopana
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.
fetish
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!
Beanisend
I've read many of Dr. Sowell's books. They are all clear cut, easy to understand and to read. Examples make some of the concepts easier to understand. This one rehashed a lot from Basic Economics, I recognized some of the principles and then it went further into why one must think down the road and why politicians don't. I'll probably use it as a reference in discussions I have with other people about 2nd hand effects of some policies. We are already seeing it with the $15/hr minimum wage in Seattle and San Francisco.
terostr
"Applied Economics" is full of the calm voice and sound thinking that readers have come to expect from Thomas Sowell who regularly makes compelling reading out of "the dismal science." Economics can be helpful for making decisions, but it doesn't make them for us. All it can do is help us to see the trade-offs, the costs and benefits inherent in different choices we make. Thus, "what policies will most likely lead to higher productivity?" is an economic question. While the question "is it better to grow our economy or to share its benefits more equally?" while important, is not an economic question.

Economics can also help to clarify the longer-term consequences of those decisions, what Sowell calls the stage two consequences. Political decision making (or rather politicians) often ignore this stage. Since their primary motivation is usually to remain in power, they are mostly interested in short-term results that will appear before the next election. They also prefer to talk about "solutions" rather than trade-offs. They sell benefits but hide costs. The necessary corrective to this is an informed electorate to hold them accountable. That's where books like this one come in.

Sowell's presentation is very compelling and richly illustrated with examples from economic and social history. Since a large percentage of the bad ideas currently in circulation have already been tried, it makes a great deal of sense to look at the outcomes.

There is a fair bit of overlap between this book and Sowell's 2007 title "Economic Facts and Fallacies." Both are very worthwhile but if -- like most people -- you haven't got time for both, I would recommend this one.

The newly revised and expanded 2009 edition includes a new chapter on the Economics of Immigration and new material that is particularly timely in the chapters on the Economics of Housing and the Economics of Medical Care. In addition to these three, there is a discussion of the economic aspects of labor, risk, discrimination, and the development of nations.
Applied Economics, First edition: Thinking Beyond Stage One download epub
Economics
Author: Thomas Sowell,Brian Emerson
ISBN: 0786176601
Category: Business & Money
Subcategory: Economics
Language: English
Publisher: Blackstone Audio, Inc.; 1st,Unabridged edition (February 1, 2006)