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Lunch » Tags » Books » Reviews » Applied Economics: Thinking Beyond Stage One Revised and Enlarged Edition » User review

Great education about basic economic issues

  • Dec 27, 2009
Rating:
+5
Many political considerations have the underlying economic dimensions. In fact, probably every political decision has major economic ramifications. Unfortunately, it is not always easy to discern all of those ramifications and the consequences of those decisions that come up further down the road sometimes take time to manifest themselves. This book provides the reader with some basic tools of analysis in order to fully appreciate some of the major political issues of today. The main focus is on the US politics, but the issues discussed have cropped up under different guises around the world and the book could certainly be read by international audience.

Thomas Sowell is one of the most respected political columnists of today, and his popularity and influence are in large measure due to the fact that he is exceptionally skillful at writing at the level that can be readily appreciated by the general readership. He's particularly adroit at breaking down complex issues and presenting them in terms of their most salient components. It is exactly this style that he brings to this book. The book is not a highbrow academic treatise, nor even a real textbook. Its aim is to promote economic literacy on the part of general public, and in that respect it does an admirable job. The title of the book suggests that this is a sequel to Sowell's "Basic Economics," but this is a largely self-contained work and can be read independently of the earlier book. In fact, each one of the chapters can be read in its own right. The only thing that links them in a single volume is the general theme of considering economic consequences "beyond stage on," i.e. beyond the immediate impact that various political decisions have.

This is one of those books that everyone should read. If everyone did, it is very likely that we wouldn't be straddled with the consequences of unfortunate political decisions for decades at a time.

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More Applied Economics: Thinking Be... reviews
review by . November 28, 2008
An abundance of common sense in this volume.
Throughout "Applied Economics" author Thomas Sowell continually tries to impress the reader of the importance of "thinking beyond stage one".  As Sowell so artfully points out "stage one thinking" is part and parcel of a great many politicians these days.  As an economics major myself (many years ago) I was anxious to see how Sowell would argue the conservative case on many of these issues.  I must say he makes his points eloquently and with great clarity.  …
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Bojan Tunguz ()
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I am a benevolent rascal. I love lounging in bed on a Sunday morning. Rainy days make me melancholy, but in a good kind of way. I am an incorrigible chocoholic. I hate Mondays, but I get over it by Wednesday. … more
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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.


Thomas Sowell 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.

--Basic Books
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Details

ISBN-10: 0465003451
ISBN-13: 978-0465003457
Author: Thomas Sowell
Genre: Development & Growth, Economic Policy & Development, Policy & Current Events, Red Politics
Publisher: Basic Books
Date Published: December 8, 2008
Format: Hardcover
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