Applied Economics: Thinking Beyond Stage One

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Applied Economics: Thinking Beyond Stage One
by Thomas Sowell
from Basic Books

Customer Reviews:

• Avg. Customer Rating: 4.5 / 5.0

• Price controls lead to shortages
  1. The purpose of economic analysis is not the goals being sought but the incentives and constraints that are created in pursuit of those goals. What we need to know is the characteristics of the processes set in motion and the incentives and constraints inherent in such characteristics rather than judging these processes by their goals. Once we start thinking in terms of the chain of events set in motion by particular policies and follow these events beyond stage one - the world begins to look very... more info

• The 'look before you leap' principle applied to economics
  This book is absolutely fantastic. Thomas Sowell is truly an intellectual of the highest breed. His explainations on how economic policies, which look good on paper, can have far reaching and counter productive effects is clear and interesting. Somehow all his books apply to more then the sphere of life he intends to educate. This book likewise contains a message - of looking at long term outcomes - which applies to not only economists and policy makers but the average man as well. Economics, which has been... more info

• Even nobility has real consequences
  I studied forensic chemistry in college and I very much enjoyed and was good at it. But, If i chose another discipline to study economics would have been it. Thomas Sowell has brought great enjoyment to a very real and useful subject. Economic thinking is wonderful because you can use it everywhere.
  Even though this book comes after Basic Economics, I don't think the first is required to follow this book. Sowell simply takes us into real life examples of "incentive" and "constraint" and the... more info

• Good on its own merit.
  Alone, this book is a very good, quick read on several important issues of our time for anyone who already understands the most basic economic concepts like prices, supply and demand. I rate it 5 stars based own its own merit, but for those who have already read Sowell's "Basic Economics," little extra can be found here. In this book, Sowell skips the introduction to basic economic concepts and goes directly to briefly analyzing issues like health care, discrimination and the development of nations. While... more info

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