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eBook Applied Economics: Thinking Beyond Stage One epub

by Thomas Sowell

eBook Applied Economics: Thinking Beyond Stage One epub
  • ISBN: 0465081436
  • Author: Thomas Sowell
  • Genre: Business
  • Subcategory: Economics
  • Language: English
  • Publisher: Basic Books; 2nd edition (November 13, 2003)
  • Pages: 256 pages
  • ePUB size: 1474 kb
  • FB2 size 1607 kb
  • Formats docx lrf lit txt


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: 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

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

The ideal companion volume to the acclaimed Basic Economics-a guide to how our economic decisions turn out in practical terms. It examines economic policies not simply in terms of their immediate effects but also in terms of their later repercussions, which are often very different and longer lasting. The interplay of politics with economics is another theme of Applied Economics, whose examples are drawn from experiences around the world, showing how similar incentives and constraints tend to produce similar outcomes among very disparate peoples and cultures.

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. Библиографические данные. Applied Economics: Thinking Beyond Stage One. Автор.

Applied Economics book. Goodreads helps you keep track of books you want to read. Start by marking Applied Economics: Thinking Beyond Stage One as Want to Read: Want to Read savin. ant to Read.

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Thomas Sowell has taught economics at Cornell, UCLA, Amherst and other academic institutions, and his Basic Economics has been translated into six . I've lost track of the number of Dr. Sowell's books I have read.

com User, 10 years ago. Thomas Sowell has written a book that is timely and easy for any of us to get our hands around.

An important read for all of us! Published by Thriftbooks. com User, 10 years ago. I have read many books over my 62 years and I am putting this one on my "top 10" list. America, please read this one! Jim Mullaney Fairfield, Ohio. An Election Year Must Read. Published by Thriftbooks. com User, 15 years ago.

External metadata update. Thomas Sowell - Applied Economics (1 of 7. gg download. 2019-04-11T07:46:52Z. Thomas Sowell - Applied Economics (2 of 7. Thomas Sowell - Applied Economics (3 of 7. Thomas Sowell - Applied Economics (4 of 7. Thomas Sowell - Applied Economics (5 of 7. Thomas Sowell - Applied Economics (6 of 7. Thomas Sowell - Applied Economics (7 of 7.

The application of economics to major contemporary real world problems--housing, medical care, discrimination, the economic development of nations--is the theme of this new book that tackles these and other issues head on in plain language, as distinguished from the usual jargon of economists. It examines economic policies not simply in terms of their immediate effects but also in terms of their later repercussions, which are often very different and longer lasting. The interplay of politics with economics is another theme of Applied Economics, whose examples are drawn from experiences around the world, showing how similar incentives and constraints tend to produce similar outcomes among very disparate peoples and cultures.
Comments: (7)
Hulore
Thomas Sowell describes economics as thinking beyond Stage One-considering the later consequences of present policies. This is a great message, and one I wish our national leaders understood. I am a biochemist and a patent attorney, and I consider myself an environmentalist. Most environmentalists, unfortunately, need to think much more about Stage Two and beyond. This book is a good way to start this process and correct some of the naivete that surrounds environmental policy proposals. Mr. Sowell's analysis of recycling, for example, is a much-needed insertion of reality into this area.
I enjoyed the analyses of medical care and risk-taking. Mr. Sowell makes the excellent point that drug prices convey an underlying reality that is not nearly as easily changed as the prices are; drug price controls are therefore self-defeating. I felt Mr. Sowell did not go far enough on this, however. Life insurance works because it is reasonably easy to tell whether someone is dead or not, and because successfully killing someone for the insurance money is difficult and risky. Health insurance works poorly because there simply is no way to define "good" health care, much less tell whether or not someone else's child is receiving it. The demand for medical care is essentially infinite; nearly everyone would like themselves and their families to have better health than they presently do. As soon as a third party payer enters the picture, the necessary connection between demand for health care and the available resources of the patient or his family becomes a fog filled with conflicts of interest.
Mr. Sowell's analysis of zoning laws is basically good. I agree that we need much more consideration of the role of zoning laws in creating urban sprawl. I think Mr. Sowell puts too much emphasis on the role of "open space" in this, though. The main problem is not that we don't allow people to build in the remaining open space, but that thanks to too-restrictive zoning, housing density is far too low in the locations (such as near jobs, shopping, schools, parks, and subway stations) where people want to live. In my own neighborhood (Falls Church, Virginia), demand for housing is intense and home prices are soaring, but thanks to zoning and local politics, the few remaining lots are mostly having single-family houses built on them. Ridiculous!
Mr. Sowell's analysis is faulty in some areas. He too easily dismisses overpopulation as a serious problem. The difficulty is that if people are not required to pay the full costs of raising their own children, they will raise more children than they or their society can afford. If we are going to have such "pro-child" policies as universal free education, therefore, we must balance that with taking steps to control population.
Mr. Sowell admits that there is a limit to the earth's capacity to sustain human life, but says this is not a problem because we are still far from the limit. I am not convinced that we are as far from the limit as he thinks. The earth's resources (and its waste sinks) are being used at a rate which is simply not sustainable even over a time span of decades, never mind centuries. Mr. Sowell's analysis would be correct if there were no externalities. The fact is, though, that resource use is in effect very heavily subsidized. Users of crude oil, for example, do not now have to pay the costs of air pollution, roads, auto accidents, wars to protect the oil flow, climate change, and the like, but instead shove these costs off onto others. As long as this continues, crude oil will continue to be overused and the economy will be less efficient as a result. I would like to see Mr. Sowell's formidable abilities applied to the problem of solving the "Stage Two" problem of externalities, rather than simply sweeping it under the rug.
Lightbinder
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.
Thetath
Dr. Sowell picks up here where he left off with "Basic Economics." For the average person who would like to learn more about economics on a practical and not just theoretical level, start with "Basic Economics" and then move on to "Applied Economics." The author does a wonderful job in both books of explaining concepts and giving practical examples to illustrate the concepts. There is a good chance you will walk away from this book with a brand new perspective on certain accepted policies and ideas. Dr. Sowell is especially adept at making the point that politicians and much of the public live in the world of short term thinking, while economics forces you to think beyond stage one.
Ericaz
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 called a dismal science, tells us of the necessary trade offs that people and institutions with vested interests will not.
Erennge
Dr. Sowell does a superb job of explaining the unintended consequences of well-intentioned, but incompletely thought-out public policy. as a highlight, Dr. Sowell details the downstream, negative impact of rent control laws on the very people the laws are intended to protect. Rent control laws mean less income for the owner, more people in line to rent, and less income for the owner to use in the maintainance of his property. As a result the very properties protected by rent control fall into disrepair and are then abandoned.

As a non-economist, I found the concepts and illustrations very accessible.
Waiso
Regardless if you are studying economics, or looking for some exposure to the way such people think, this book will be a fun adventure. The chapters are detailed case studies for the how economics applies to the major issues of today. Written for a general audience, the book is perfect to round out some thoughts in economics. I have always thought that reading economics is the only way to understand it, this book is a great step in that direction.
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