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Binding: Hardcover
Dewey Decimal Number: 330
Edition: 2nd
Format: Bargain Price
Label: Basic Books
Manufacturer: Basic Books
Number Of Items: 1
Number Of Pages: 352
Publication Date: December 08, 2008
Publisher: Basic Books
Studio: Basic Books
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Editorial Review:
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.
Average Rating: 
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I had previously read "Basic Economics" by the same author, and this book not only adds more insight but shows how it applies to situations that are very important today. Great read - I'm recommending it to my family and friends.
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I haven't read anything in this book except the chapter on the economics of medical care, however that was fantastic and may be worth buying just for that.
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Sowell's main thesis is that political decision-makers, which include both politicians, administrative agencies, and large government bureaucracies, often are rewarded for what he calls "stage one" thinking. In other words, because a politician's main objective is to get re-elected, policies which are popular and appear to, or do, have short-term benefits are often pursued without regard to the policy's long-term consequences. Ultimately, the politician will not be rewarded for the benefits that ... Read More
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This author is simply at the top of his game in the relatively new arena of making economics popular for the masses. There are all sorts of new economic books out but Mr. Sowell is a cut above. He simply has a way of making difficult problems seem simple to fix. Also he makes you really think which is probably the best compliment you can give this book.. it makes you think.
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This book offers great timely details of all the contributions social, political and market driven that likely affect today's economy. It asks the real questions behind the current predicaments of staggering health care costs, housing booms and busts, and the all too many unintended consequences of legislation and policy that was crafted without thinking beyond stage one. I appreciated how Sowell writes in a scholarly and objective way devoid of rhetoric and attacks on individuals or specific institutions. ... Read More
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